Engage Sells its Internet Advertising Business Unit to a Group of Former Engage Employees.Business Editors/High-Tech Writers ANDOVER, Mass.--(BUSINESS WIRE)--Nov. 6, 2002 Agreement Enables Engage to Focus Solely on Digital Asset Management Business Unit, While Allowing Former Engage Employees to Continue to Serve Customers of Former Internet Advertising Delivering ads to Internet users via Web sites, e-mail, ad-supported software and Internet-enabled cellphones. Also called an "ad network," Internet advertising organizations act as a middleman between the advertiser and the Web sites and software publishers that display the ads. Unit Engage, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : ENGA), a leader in enterprise software and services for advertisers, marketers and publishers, today announced the sale of its Internet advertising business to Accipiter Solutions, Inc., a company recently formed by certain former employees of Engage's Internet advertising business unit. The deal will enable Engage to devote singular focus to its core advertising, marketing and promotion (AMP) solutions business, while the customers of the Internet advertising business unit will continue to receive quality ad serving services from Accipiter. As part of the transaction, Accipiter issued Engage a warrant to purchase up to 10% of the shares of Accipiter common stock outstanding at the time of exercise. "After consideration of Engage's long-term strategy, we decided to exit operations of our Internet advertising business," said John Barone, president and COO (Cell Of Origin) See mobile positioning. of Engage. "We believe this deal is a significant accomplishment for Engage, as it allows the Company to focus our efforts on becoming a leading provider of AMP solutions, while enabling us to benefit from the success of the Accipiter business as a result of our ownership interest in Accipiter. We are also pleased that this deal will offer continued quality service for our former Internet advertising customers." About Engage, Inc. Engage, Inc. (OTCBB: ENGA) is a leading provider of advertising, marketing and promotion (AMP) software solutions. Engage's digital asset management and workflow automation See workflow. software enables the creation, production and delivery of marketing and advertising content more quickly and efficiently, increasing time-to-market advantages, boosting productivity and ultimately driving higher ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). from marketing programs and advertising campaigns. A publicly owned Publicly owned can refer to:
Engage is a trademark of Engage, Inc. Other product names mentioned herein may be trademarks and/or registered trademarks of their respective owners. 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 This press release includes 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. about us, including without limitation, statements regarding our ability to become a leading software provider of advertising, marketing and promotion solutions, our belief that we will benefit from our equity interest in Accipiter and our belief that the Internet advertising customers will receive quality ad serving services. These forward-looking statements are based on information available to us as of the date of this press release, and not as of any subsequent date, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. Other risks that could affect us include our ability to reduce expenses and to increase sales of our product offerings, the impact of competition within our industry, our ability to enter into additional strategic relationships, and other risks detailed in our 2001 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. and from time to time in our other reports filed with the SEC. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim dis·claim v. dis·claimed, dis·claim·ing, dis·claims v.tr. 1. To deny or renounce any claim to or connection with; disown. 2. To deny the validity of; repudiate. 3. any obligation to do so, even if the information available to us with respect to the subject of any forward-looking statement changes. |
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