Brocker Technology Withdraws from KyxPyx Technologies Acquisition.Business Editors/Hi-Tech Writers EDMONTON, ALBERTA, Canada--(BUSINESS WIRE)--Dec. 22, 2000 Brocker Technology Group Ltd. (Nasdaq:BTGL BTGL Bisexual Transgender Gay Lesbian , TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BKI), announced today that it will not proceed with its planned acquisition of KyxPyx Technologies Inc. Brocker announced, on September 28th 2000 that it had signed a Heads of Agreement Heads of Agreement A non-binding document outlining the main issues relevant to a tentative partnership agreement. Notes: It is the draft used by lawyers when drawing up the contract. It serves as a guideline for both parties before any documents are legalized. (Letter of Intent) to acquire KyxPyx. Based in Vancouver, British Columbia, KyxPyx Technologies Inc. is a developer of real-time bandwidth adaptive, multi-channeled media streaming system based on the company's proprietary technology. However, Brocker has subsequently been re-evaluating its own product development strategy, which has led to a fine-tuning of its plans. "The KyxPyx technology is very exciting," said Michael Ridgway, Brocker's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "It's a revolutionary product with a great future. But we have decided to focus our corporate resources on the development and marketing of our current proprietary intellectual property. We have concluded that we should tighten our focus and the consequence of this is that we will not proceed with the KyxPyx acquisition. We still think it's great technology and we wish them well." About Brocker Technology Group Ltd. Brocker Technology Group Ltd. (http://www.brockergroup.com) is a global innovator in business-to-business communications focusing on application development, consulting services, online services, and vendor services (Brocker's original technology distribution and service business). Brocker's e-communications products, collectively called EC Suite (Enterprise Communication Suite), include Supercession http://www.supercession.com (e-business transaction processing software), Bloodhound bloodhound, breed of large hound whose ancestors were known in the Mediterranean region before the Christian era. It stands about 25 in. (63.5 cm) high at the shoulder and weighs between 80 and 110 lb (36.3–49.9 kg). http://www.bloodhound.co.nz (one-number communication & unified messaging software) and Powerphone (caller ID software that also displays all of the client's transaction history). Brocker has established partnering agreements with KPMG and PeopleSoft. Brocker's Supercession is designed to integrate with PeopleSoft's non-internet based ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. software. "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses; the risk of obtaining financing, and other risks described in the Company's Securities and Exchange Commission filings. Product names mentioned herein may be trademarks and/or registered trademarks of their respective companies. The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. has neither approved nor disapproved the information contained herein. |
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