PTEKVentures.com Adds Derivion to Its Portfolio.ATLANTA--(BUSINESS WIRE)--June 9, 1999-- New Investment Strengthens Premiere's Portfolio Strategy "Powered by Orchestrate(R)" Premiere Technologies, Inc. (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 : PTEK PTEK Parents and Teachers of Explosive Kids ) announced today that it has invested, through its PTEKVentures.com Internet investment initiative, in Derivion Corporation, a pioneering provider of Electronic Bill Presentment and Payment See EBPP. (EBPP (Electronic Bill Presentment and Payment) Sending invoices to customers over the Internet. When payment is due, an e-mail is sent with a link to a Web page that contains the billing information and the payment services that are supported. ) services. One of the goals of PTEKVentures.com is to extend Premiere's Orchestrate(R) Web-based communications technology to emerging Internet companies. Already, PTEKVentures.com initiatives include strategic relationships with companies such as WebMD, USA.Net, Webforia, VerticalOne and IntelliVoice. "PTEKVentures.com's strategy is guided by two key principles. First, we seek savvy Internet partners that create solutions to improve our services and provide long-term sales and marketing opportunities. Second, we seek early round investments in these companies to promote partner loyalty and provide Premiere with upside equity opportunities," said Boland T. Jones, Founder, Chairman 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. of Premiere Technologies. "Our investment strategy has led us to some of the best and brightest young companies and Derivion is clearly one of them," added Jones. "We anticipate that Derivion will become a significant player in the EDPP EDPP Electronic Document Presentment and Payment EDPP Employee Development and Performance Plan (Washington state) EDPP Elevation-Delay-Power Profile EDPP Exploratory Development Program Plan services industry and will join the expanding group of highly successful Atlanta-based Internet companies." Through PTEKVentures.com, Premiere owns approximately 13% of Derivion's outstanding stock, and has also entered into a strategic marketing agreement to provide Premiere's Orchestrate product line to Derivion's customers. About Premiere Technologies Atlanta-based Premiere Technologies (NASDAQ:PTEK) provides innovative solutions to simplify communications by combining the power of the Internet with the reach of the telephone. Founded in 1991, Premiere has operations in 32 countries and can be found at www.premtec.com. NOTE TO EDITORS: Statements made in this press release, other than those concerning historical information, should be considered forward-looking and subject to various risks and uncertainties. Such forward-looking statements are made based on management's belief as well as assumptions made by, and information currently available to, management pursuant to the "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. " provisions of 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 of 1995. Premiere's actual results may differ materially from the results anticipated in these forward-looking statements as a result of a variety of factors, including those identified in Premiere's Annual Report on Form 10-K for the fiscal year ended December 31, 1998 and its Quarterly Reports on Form 10-Q and subsequent filings filed with the Securities and Exchange Commission. |
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