DataTimes Corporation Acquires Avenue Technologies.OKLAHOMA CITY Oklahoma City (1990 pop. 444,719), state capital, and seat of Oklahoma co., central Okla., on the North Canadian River; inc. 1890. The state's largest city, it is an important livestock market, a wholesale, distribution, industrial, and financial center, and a farm , OK--(BUSINESS WIRE)--December 16, 1994--DataTimes Corporation, a fast-growing provider of electronic business information services See Information Systems. , has acquired the San Francisco-based Avenue Technologies, a leading publisher of electronically created, on-demand business intelligence products serving corporations, investors and others. The acquisition couples, under one corporate umbrella, the world's most comprehensive online network of business news and information with Avenue Technologies' on-demand publishing expertise. Avenue Technologies is best known now for producing company profiles, and industry tracking and investment reports marketed under the names "FORTUNE Company Profiles(tm)" (in conjunction with Time, Inc.), and "Kiplinger's Mutual Fund Reports (tm) (in conjunction with Kiplinger's Washington Editors, Inc.). Additional distribution channels include Thomson Financial Thomson Financial A major provider of information, analytical tools, and consulting services to the financial community. The firm, a division of Thomson Corporation, is best known to investors for its First Call segment, which publishes consensus earnings Services' I\Plus Direct service and Disclosure Incorporated. DataTimes last month, meanwhile, announced an early 1995 launch of a new online information network, called EyeQ (sm), which will be the first online service marketed to and priced for a broad business audience. Monthly subscriptions will start at $39. EyeQ(sm) will incorporate online retrieval from more than 5,200 information sources, same-day and real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. news tracking, and on-demand 10-to-12 page corporate profiles created at the time of electronic order and delivered via fax, mail or courier A monospaced typeface originating from the typewriter that is commonly used for letters. It is still considered by many to be the "appropriate" typeface for business correspondence. . Avenue Technologies will produce the reports using proprietary software that scans more than 5,000 different journals and news sources, with the information then packaged into pre-formatted and presentation-quality reports. Profile reports will be available on more than 20,000 publicly traded companies publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. in the U.S. and internationally, and more than 12,000 U.S.-based private companies. "Avenue Technologies brings the proven skills of using technology to develop innovative reporting products to our arsenal of information products and services," said Allen Paschal, DataTimes president. "As we finalize fi·nal·ize tr.v. fi·nal·ized, fi·nal·iz·ing, fi·nal·iz·es To put into final form; complete or conclude: "They have jointly agreed ... our strategies for marketing EyeQ(sm) to the broadest possible audience of business consumers, Avenue will be a tremendous asset for us." Said Bruce Cardinal, Avenue Technologies president: "Joining the DataTimes corporate family is an ideal marriage. They have aggressive plans to reach thousands of business executives and managers not yet touched by the information revolution. We, in turn, provide tremendous experience in developing on-demand reports serving that constituency." Terms of the acquisition will not be disclosed. The four-year-old Avenue Technologies, founded by information industry entrepreneur entrepreneur (än'trəprənûr`) [Fr.,=one who undertakes], person who assumes the organization, management, and risks of a business enterprise. Cardinal, will continue to operate as a separate entity. Prior to launching Avenue Technologies, the 39-year-old Cardinal helped Charles Schwab Charles Schwab can refer to:
Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. capabilities. In addition to its online network, DataTimes Corporation also offers a fax-delivered daily executive briefing service, the DataTimes NewsPipeline(sm) to feed corporate computer networks, and an in-house search service. DataTimes Corporation is a subsidiary of The Oklahoma Publishing Company. CONTACT: DataTimes Corporation, Oklahoma City
John Buckman, 412/471-6348
Avenue Technologies, San Francisco
Rich Kreisman, 415/705-8404
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