Computer Marketplace Initiates Roll-Up of Interactive Architect Firms.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--Aug. 12, 1999-- Computer Marketplace Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:MKPL MKPL Mount Kisco Public Library (Mt Kisco, NY) ) Thursday announced that it and its newly formed subsidiary, Top Team Inc., have entered into letters of intent to acquire two leading Internet consulting companies. Under the letters of intent, it is contemplated that Computer Marketplace and Top Team will acquire all of the outstanding capital stock of Full Moon Interactive Group Inc. and Orrell Communications Inc., in exchange for the issuance of shares of common stock of both Computer Marketplace and Top Team. Closing of each transaction is subject to the completion of legal, business and accounting due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and the execution and delivery of definitive acquisition agreements. Computer Marketplace and Top Team are in similar discussions with a number of other Internet consulting companies. International Data Corp. forecasts the market for Internet development services to exceed over $40 billion in 2002. Full Moon and Orrell are among the new type of Internet Architects that combine Internet technology skills with strategic and brand management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects services. Full Moon designs, builds, operates and markets mission critical interactive systems for world-class companies, including such notables as Gillette, Dell, Canon Software, Caesars World, Edison International Edison International (NYSE: EIX) is a public utility holding company based in Rosemead, California. Its subsidiaries include Southern California Edison, and un-regulated non-utility assets Edison Mission Energy, a power producer, and Edison Capital. , Cal Fed, and Knowledge Adventure. Robert M. Wallace Robert Minor Wallace (August 6, 1856 - November 9, 1942) was a U.S. Representative from Arkansas. Born in New London, Arkansas, Wallace attended the common schools, and was graduated from Arizona Seminary, Arizona, Louisiana, in 1876. He studied law. , chairman of the board of Computer Marketplace, commented, "After weeks of extensive negotiations with numerous Interactive Architect businesses, we are very excited to have entered into letters of intent with two of the industry leaders. A strategic consolidation of these Internet services companies will allow Top Team to assemble the technology, skills and expertise necessary to provide comprehensive, fully integrated Internet-based solutions to businesses utilizing the Internet. We look forward to continuing our due diligence review of these and other companies, to signing definitive agreements and to adding Full Moon Interactive Group Inc. and Orrell Communications Inc. to Top Team." In connection with the consolidation, Fred Walti, the current chief executive officer of Full Moon will assume the position of 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 Top Team. "Participating in this strategic consolidation of Interactive Architects represents an opportunity to significantly expand the scope and scale of our business, positioning us to provide the range of services offered by larger companies, such as Razorfish, Viant, and Scient," stated Walti. "Together, we can harness our collective strategy, design, and technology expertise to deliver the highest caliber of service to our clients." Computer Marketplace is executing its plan to develop Internet businesses, including an Internet Web site community, commonly referred to as a vertical portal A Web site that provides news, articles and services to a particular industry such as IT, finance and retail. It is the industry-specific equivalent of the general-purpose portal on the Web. Also called a "vortal." See portal, corporate portal, business intelligence portal and Web hub. dedicated to serve the needs of the Small Office Home Office (SOHO Soho (sōhō`, sə–), district of Westminster, London, England, known for its continental restaurants. Once a fashionable quarter, it became popular among writers and artists in the 19th cent. ) market in the United States. In April 1999, the company acquired E-Taxi Inc., the parent corporation of TechStore Inc., an online reseller of computer hardware and software as well as certain consumer electronics products. Office Express Inc., a subsidiary of the company, commenced selling office supplies and equipment online in August 1999. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Investors should carefully consider the preceding information as well as other information contained in this news release before making an investment in the common stock. Information contained in this news release contains "forward-looking statements" which can be identified by the use of forward-looking terminology such as "believes," "expects," "may," "should," or "anticipates" or the negative thereof or given that the future results covered by the forward-looking statements will be achieved. The preceding matters constitute cautionary statements identifying important factors with respect to such forward-looking statements, including certain risks and uncertainties that could cause actual results to vary materially from the future results covered in such forward-looking statements. Other factors could also cause actual results to vary materially from the future results covered in such forward-looking statements. |
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