CMGion Acquires Tribal Voice; Instant Messaging Technology to be Integrated into CMGion's Network-Based Platform.Business/Technology Editors ANDOVER, Mass.--(BUSINESS WIRE)--Sept. 15, 2000 Editor's Note Editor's Note (foaled in 1993 in Kentucky) is an American thoroughbred Stallion racehorse. He was sired by 1992 U.S. Champion 2 YO Colt Forty Niner, who in turn was a son of Champion sire Mr. Prospector and out of the mare, Beware Of The Cat. Trained by D. : -- CMGion, developer of a network-based platform designed to enhance the performance and functionality of Internet applications and content delivery, will acquire Tribal Voice, a leading provider of co-branded instant messaging and interactive communications solutions. -- CMGion will integrate Tribal Voice's instant messaging technologies as a component of its network platform offerings. -- The strategic decision enables CMGion to enhance its offerings by adding instant messaging to its feature set, while accelerating and deepening the reach of PowWow via a global distribution channel. -- Today's announcement marks the first internal transaction to be effected under CMGI's recently announced strategy to achieve market leadership, maximize operating efficiencies, and accelerate the path to profitability for its six lines of business. The acquisition enables CMGI to further define its infrastructure and enabling technologies business segment, while achieving significant operating and cost efficiencies. CMGI CMGI Commonly Maintained Grounds Infrastructures CMGI College Marketing Group Information (Services) , Inc. (Nasdaq:CMGI), a leading global Internet operating and development company, today announced that its majority-owned operating company operating company A business that engages in transactions with outsiders. CMGion, which is developing a network-based services platform, will acquire fellow majority-owned operating company Tribal Voice
"As a company uniquely positioned to leverage synergies within our diverse network of companies, CMGI realized that integrating Tribal Voice's PowWow technology into CMGion would broaden CMGion's content delivery offerings, while expanding the reach of instant messaging via a global distribution channel," said David Wetherell, chairman 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. of CMGI, and acting CEO of CMGion. Today's announcement marks the first internal transaction to be effected under CMGI's recently announced strategy to leverage and expand upon the business synergies inherent within its new operating structure. Under the new structure, CMGI is focused on achieving market leadership, maximizing operating efficiencies, and accelerating the path to profitability for its six identified lines of business. These lines of business, include: infrastructure and enabling technologies; search and portals; e-business and fulfillment; interactive marketing; and Internet professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. ; as well as CMGI's affiliated venture capital business, CMGI @Ventures. "In addition to the benefits CMGion and instant messaging will reap from this acquisition, this transaction also allows CMGI to further define our infrastructure and enabling technologies business segment, and achieve significant operating and cost efficiencies across both organizations," added Wetherell. CMGion plans to retain the majority of Tribal Voice's technical team, located primarily in Colorado Springs Colorado Springs, city (1990 pop. 281,140), seat of El Paso co., central Colo., on Monument and Fountain creeks, at the foot of Pikes Peak; inc. 1886. It is a year-round resort and a booming military, technological, and commercial city. to maintain the current PowWow technology and customer base. In order to streamline business processes, the Denver office location will be closed. Employees retained in the Colorado Springs office will report to CMGion management headquartered in Andover, Massachusetts. Additionally, Ross Bagully, CEO of Tribal Voice, has been appointed senior vice president, Instant Messaging, CMGI. In this capacity, he will oversee and coordinate the corporation's efforts in the instant messaging arena, as well as continue to spearhead the efforts to establish open instant messaging communications, continuing to work with both the IMUnified coalition and FreeIM, both of which he is a founding member. Bagully will report to David Andonian, president, Corporate Development, CMGI. "Merging Tribal Voice into CMGion reinforces CMGI's commitment to instant messaging and strengthens its chances for long-term success and development within CMGI's largest distribution platform," said Ross Bagully the former CEO of Tribal Voice appointed senior vice president, Instant Messaging, CMGI. About CMGion CMGion, a majority-owned operating company of CMGI, Inc., is creating an open network-based platform that will enable a comprehensive suite of services. CMGion has strategic alliances with Compaq, Novell and Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. . About Tribal Voice Tribal Voice is a leading provider of co-branded instant messaging and interactive communications solutions based on its PowWow technology. Founded in December 1994 and acquired by CMGI in December 1999, the company is headquartered in Denver, Colo. and maintains a development organization in Colorado Springs, Colo. More than eight million worldwide users participate in over 18,000 communities via PowWow-based software. Tribal Voice is a majority-owned operating company of CMGI, Inc. About CMGI and CMGI @Ventures CMGI, Inc. (Nasdaq:CMGI), a leading global Internet operating and development company, represents a network of 70 established and emerging companies, including both CMGI operating businesses and synergistic investments made through its venture capital affiliate, CMGI @Ventures. Companies in the CMGI network span a range of vertical market segments including search and portals; infrastructure and enabling technologies; e-business and fulfillment; interactive marketing; and Internet professional services. CMGI leverages the technologies, content and market reach of its extended network to foster rapid growth and industry leadership across the Internet Economy The Internet Economy refers to conducting business through markets whose infrastructure is based on the Internet and World-Wide Web. An Internet economy differs from a traditional economy in a number of ways, including: communication, market segmentation, distribution costs, and price. . Compaq, Intel, Microsoft, Pacific Century CyberWorks and Sumitomo hold minority positions in CMGI. CMGI's majority-owned operating companies include Engage (Nasdaq:ENGA), NaviSite (Nasdaq:NAVI NAVI Nuclear Arms Verification Instrument NAVI New Analog Video Interface ), 1stUp.com, Activate, AdForce, AltaVista, CMGion, CMGI Solutions, Equilibrium, ExchangePath, iCAST, MyWay.com, NaviPath, SalesLink, Tribal Voice, uBid.com, and yesmail.com. CMGI @Ventures has ownership interests in 53 companies, including Lycos, Inc. (Nasdaq:LCOS (Liquid Crystal on Silicon) A technology used to make microdisplays for rear-projection TVs and head-mounted displays (HMDs). Each LCoS chip hosts a grayscale LCD shutter sandwiched between a cover glass and a mirror. ), Critical Path (Nasdaq:CPTH), MotherNature.com (Nasdaq: MTHR MTHR Mobile Telecommunications and Health Research (UK) ), Ventro (Nasdaq:VNTR VNTR Variable Number of Tandem Repeat(s) ) and Vicinity (Nasdaq:VCNT). CMGI's corporate headquarters is located at 100 Brickstone Square, Andover, MA 01810. CMGI @Ventures has offices there, as well as at 3000 Alpine Road, Menlo Park Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , CA 94028. For additional information, see http://www.cmgi.com and http://www.ventures.com. This release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. which address a variety of subjects including, for example, the expected benefits resulting from CMGI's revised structure and reporting procedures. All statements other than statements of historical fact, including without limitation, those with respect to CMGI's objectives, plans and strategies set forth herein are forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: the revised structure and reporting procedures may not lead to increased market clarity or shareholder value; the success of CMGI depends on the continued and increased acceptance of the Internet as a medium; and increased competition and technological changes in the markets in which CMGI and CMGion expect to compete. For a detailed discussion of cautionary statements that may affect CMGI's future results of operations and financial results, please refer to CMGI's filings with the Securities and Exchange Commission, including CMGI's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the most recently ended fiscal year and the latest Quarterly Report on Form 10-Q Form 10-Q See 10-Q. . |
|
||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion