Frontline Communications Corp. Acquires Ecommerce Solutions Firm; Deal Expected to Add Over $1 Million to Revenue.Business Editors/High Tech Writers PEARL RIVER Pearl River, uninc. village (1990 pop. 15,314), Rockland co., SE N.Y., near the N.J. line. It is a residential suburb of New York City, and a computer and telecommunications research and development center. Pearl River River, central Mississippi, U. , N.Y.--(BUSINESS WIRE)--Sept. 29, 2000 Frontline Communications Corp. (AMEX AMEX See: American Stock Exchange : FNT FNT Font (File Name Extension) FNT Front FNT Fontana (postal locality, Malta) FNT Fascinating New Thing (song) FNT Flint, MI, USA - Bishop Int'l Airport )(NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : FCCNW), www.frontline.net, announced today that it acquired PlanetMedia, www.pnetmedia.com, a rapidly growing Web development and Ecommerce solutions firm. PlanetMedia of Babylon, New York Babylon, New York can refer to:
"PlanetMedia is exactly the kind of acquisition we wanted to propel us forward in meeting the sales and revenue targets we set in our acquisition and growth plan," said Frontline 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. Stephen J. Cole-Hatchard. "Their strength is delivering creative, functional, Ecommerce Websites and solutions quickly with a high margin. Our strength is production from our sales and marketing efforts. It's a perfect match." PlanetMedia is being acquired by Frontline for a purchase price of up to $1.6 million under the following terms: $400,000 cash at closing, $100,000 in shares of Frontline Common Stock, and $300,000 in convertible debt, convertible into Frontline Common Stock at $6.00 per share. The remainder of the purchase price is a combination of cash and convertible debt contingent on PlanetMedia achieving certain earnings thresholds set on a two-year schedule. About Frontline Founded in 1995, Frontline Communications Corporation provides Effortless Ecommerce and Internet Access to small businesses nationwide. Frontline offers high-quality Internet services (Access, Development and Presence) through its three Ecommerce brands: Frontline.net, www.frontline.net, WOWFactor.com, and iShopNetworks.com, each serving important geographic, demographic and vertical small business market segments. Frontline's focus on specific small businesses and their unique needs helps those customers utilize the Internet more easily to achieve an advantage over their competitors. A member of IBM's Web Integrator Initiative, Frontline provides its clients with full Web design, development and Ecommerce solutions. Frontline is headquartered in Pearl River, New York Pearl River is a hamlet (and a census-designated place) in Rockland County, New York, United States. The population was 15,553 at the 2000 census. Pearl River is in the western part of the Town of Orangetown. , and is traded on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. . The statements which are not historical facts contained in this press release are forward looking statements that involve risks and uncertainties, including but not limited to, changes in the market for Internet services, regulatory and technological changes, economic factors, increased competition, and the nature of supplier of customer arrangements which become available to the Company in the future. The Company's actual results may differ materially from the results discussed in any forward-looking statement 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. . |
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