Prime Companies, Inc. Signs Letter Of Intent To Acquire Pixel Factory For Internet-Based Technology Network.SAN FRANCISCO--(BUSINESS WIRE)--Dec. 10, 1998--Prime Companies, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: PRMC PRMC Peninsula Regional Medical Center (Salisbury, Maryland) PRMC Prime Companies, Inc (stock symbol) PRMC Protocol Review and Monitoring Committee PRMC Pratt Regional Medical Center ) announced today that it has signed a letter of intent to acquire The Pixel Factory, Inc. in a transaction valued in excess of $1 million. Prime Companies believes the Internet and direct marketing industries are in a state of convergence and is seeking to develop a global direct marketing information network. The Pixel Factory, Inc. is one of the leading producers of high-end, high-concept digital content for film, video, 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). and the Internet. Since 1993, The Pixel Factory has produced work for domestic and international clients, including: AT&T, Disney, General Electric, Universal Studios, the Orlando Magic The Orlando Magic is a professional basketball team based in Orlando, Florida. They play in the National Basketball Association (NBA). History Early years The Orlando Magic officially entered the NBA as an expansion franchise in 1989. , Dentsu of Japan and TOEI Movie Studios. Pixel has recently negotiated multi-million dollar agreements for 1999 with a major international toy manufacturer for their international animated shows and with Harcourt Brace for their "Edutainment" CD-ROMs for use in school programs. David Lefkowitz David Lefkowitz is a playwright, theater critic and radio personality, born and raised in New York. As "Dave" Lefkowitz, he is the producer and host of Dave's Gone By, a weekly radio show that has aired on Long Island's WGBB (AM-1240) since Oct. 6, 2002. , President of Prime Companies, said, "The acquisition of The Pixel Factory will keep Prime and its planned worldwide Internet-based subsidiary network at the forefront of technology. Through the acquisition of Pixel, Prime will have, under one roof, the expertise and proven ability to manage complex Internet projects through all phases from concept to finished product. The Pixel Factory's services include: broadcast packaging, trailers and titles, commercial production, corporate branding and design, Internet design and programming, interactive presentations and hardware/software integration. The Orlando-based Pixel Factory supplies services to diverse industries, including: film, television, advertising, theme parks, special venue, corporate communications, infomercials, multimedia and interactive. Pixel owns and operates a network of specialized computers and digital workstations to create unique Internet, film and video productions, animations and effects. The Pixel Factory computer network consists of Silicon Graphics workstations and rendering servers as well as PC and Macintosh graphic workstations. In addition to all of the standard design, imaging and illustration software, the workstations are loaded with Alias/Wavefront, Lightwave, Renderman and Xaos animation and effects production software. Fully-integrated into this network is a Scitex StrataSphere non-linear editing system
A non-linear editing system (NLE) is a video editing (NLVE) or audio editing (NLAE) system which can perform random access on the source material. , allowing the Pixel Factory the flexibility of finishing almost any project in-house and outputting to any format, i.e. tape, laserdisc An earlier optical disc used for full-motion video and interactive training. It was introduced in the late 1970s and became obsolete in the 1990s. Videodisc systems based on a stylus were introduced (see CED), but only the optical-based LaserDisc survived, although never very popular. , CD, CD-I (Compact Disc-Interactive) A compact disc format developed by Philips and Sony that held text, audio and animated graphics. It required a CD-I player that contained its own operating system. , DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. or the Internet. Prime Companies, Inc. is a fully-reporting public company located in San Francisco, CA. Prime is building a business-to-business direct marketing database network through aggressive joint ventures with Internet firms and telecommunications companies in the US and foreign markets. The Company is focused on opening formerly closed telecommunications markets with emerging economies, that represent the largest untapped business database opportunity, to develop a world-wide direct marketing network. More information on Prime Companies, Inc. can be found on the Internet at: www.marketmanagement.com. Information about The Pixel Factory can be found on the Internet at: www.pixfactory.com. Press call Thomas Tedrow at: (800) 777-8098. "Safe Harbor'" 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 of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. |
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