Greenlight Communications Inc. Acquires Inmedia Software Inc.TORONTO, Ontario--(BUSINESS WIRE)--Nov. 2, 1995--GREENLIGHT(CANADIAN DEALING NETWORK Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. : GCIX 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 OTC BULLETIN BOARD OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : GLGTF BERLIN EXCHANGE: GLC ) Greenlight Communications Inc., (Greenlight) has entered into an agreement to acquire InMedia Software Inc. (InMedia), a Vancouver-based company that specializes in the creation of interactive multimedia games. The addition of InMedia is viewed by the company as expanding Greenlight's ability to produce entertainment products by adding another strong, synergistic link with the other Greenlight subsidiaries, i.e. AVENU AVENU Avenue Interactive and Everest Entertainment (InMedia has developed a CyberJack CD-ROM CD-ROM: see compact disc. CD-ROM in full compact disc read-only memory Type of computer storage medium that is read optically (e.g., by a laser). for the Everest film of the same name). InMedia's development team brings significant capabilities in multimedia production with many years of success in software coding and graphic design, as well as proven project development and production skills. Most recently, Mr. Tarmie Williams, a director and co-founder of the company, was president of Electronic Arts (Canada) Inc., the largest developer of entertainment software in North America. InMedia products are derived from a proprietary multimedia software engine called Movease, created by the InMedia development team. Movease helps InMedia create CD-ROM based products that provide a high degree of entertainment value for lower development costs. Movease also has design flexibility for easy adaptation to multiple hardware formats. InMedia has two distinct product lines. The Home Entertainment Line includes a series of children's interactive animated adventure games aimed at children under twelve (a market estimated today at five million). The animation is provided through co-production agreements with production studios. A series of familiar Family Classics provides the background for the present series. The first in the series, Return to Treasure Island Return to Treasure Island is a Disney mini-series, starring Brian Blessed as Long John Silver. Cast
The Home Entertainment Line also includes interactive movie games. The market size for interactive movie CD-ROM games is estimated to be seven million today. Like the successful games MYST MYST Mystery Science Theater MYST Mana Youth Sailing Trust (New Zealand) and Under A Killing Moon, InMedia uses the first person interactive game style to create inspiring environments for the user. CyberJack, a futuristic movie thriller, is being converted to a compelling game using InMedia's Movease engine. InMedia's Presentation Line consists of a series of personal multimedia presentation packages. Slides and Sound is a personal digital slide show maker and has been on the market since 1993. Other products in this line offer increasing degrees of sophistication so·phis·ti·cate v. so·phis·ti·cat·ed, so·phis·ti·cat·ing, so·phis·ti·cates v.tr. 1. To cause to become less natural, especially to make less naive and more worldly. 2. for making presentations. Under the terms of the agreement Greenlight agrees to purchase all of the issued and outstanding shares of InMedia for a purchase price of 585,000 common shares of Greenlight stock. An additional 585,000 warrants that are also attached to the terms of the deal will be paid in accordance with InMedia achieving certain levels of performance within a specified schedule. Greenlight Communications Inc. creates, produces and distributes multimedia material that is educational, informative and entertaining. Our products and services, used by corporations, associations and consumers emanate from entrepreneurial subsidiaries. Greenlight has six operating subsidiaries: HealthLink Communications Inc., DHD PostImage Inc., Internet Canada Corporation, Everest Entertainment Inc., (IKON) Integrated Knowledge On Networked Systems Inc. and AVENU Interactive. Greenlight and its subsidiaries have offices in Toronto, Montreal, Vancouver, New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , Los Angeles, and Research Triangle Park Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. in North Carolina. CONTACT: Peter Donato Greenlight Communications Inc. 416/214-2001 email: peter@ican.net |
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