Printer Friendly

SIERRA ON-LINE INC. ANNOUNCES STRATEGIC ALLIANCE WITH AT&T FOR TSN SUBSIDIARY

 OAKHURST, Calif., April 21 /PRNewswire/ -- Sierra On-Line Inc. (NASDAQ: SIER) announced today that it is negotiating with AT&T and General Atlantic Partners, a New York-based private investment firm, to form a strategic alliance. In a letter of intent signed by the parties, AT&T and General Atlantic would gain equity positions in Sierra's wholly owned entertainment and education network subsidiary, The Sierra Network (TSN). In addition, AT&T would provide development support and capital to produce future network content.
 Ken Williams, president and chief executive officer of Sierra On-Line, said, "An alliance with AT&T will allow TSN to realize its full, long-term potential. It will also strengthen our competitive position in the interactive multimedia market and hasten the development of network applications."
 Williams added that AT&T has demonstrated a strong commitment to the interactive multimedia industry through its investments in other related businesses such as 3DO, EO and General Magic.
 According to Williams, the alliance will help position The Sierra Network as an "open" interactive network that will support software content provided by independent software vendors. It will allow TSN to expand its membership base more aggressively and "port" its interactive network software to other home entertainment devices such as the 3DO Interactive Multiplayer.
 Founded in 1991, The Sierra Network offers interactive entertainment and educational content delivered over common telephone lines to home personal computers. TSN allows members from across the continental United States to communicate with each other through bulletin board and electronic mail capabilities and to compete in multiplayer interactive games ranging from classical board and card games to action-packed arcade and fantasy role-playing games, all in real-time.
 AT&T, a global communications and computer company, operates the world's largest and most advanced long-distance network and is the industry leader in providing products and long-distance services for consumers, businesses and government.
 General Atlantic Partners, founded in 1980, is a private investment firm that concentrates its investment activity in the computer software and services industry. Since its founding, the firm has made private investments in a number of leading software companies, including LEGENT Corp., Compuware Corp., Walker Interactive, Davidson & Associates Inc. and Sierra On-Line.
 Sierra On-Line Inc., along with its wholly owned subsidiaries, Dynamix Inc. and Bright Star Technology Inc., publishes entertainment and educational software for IBM PCs and PC-compatibles, Apple Macintosh computers and Sega CD players.
 -0- 4/21/93
 /CONTACT: Ken Williams, president and CEO of Sierra On-Line, 209-683-4468; Michael Zeaman of AT&T Consumer Products Public Relations, 201-581-3938; Steven Denning of General Atlantic Partners, 212-888-9191; or Eugene G. Heller of Silverman, Heller Associates, 310-208-2550, for Sierra On-Line/
 (SIER)


CO: Sierra On-Line Inc.; AT&T; General Atlantic Partners;
 The Sierra Network ST: California IN: CPR ENT SU:


JL-BP -- LA036 -- 9016 04/21/93 17:25 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 21, 1993
Words:462
Previous Article:PEOPLES GAS SYSTEM CEO NAMED SOUTHERN GAS ASSOCIATION CHAIRMAN
Next Article:NEW GENERATION CLAIMS AUDITING SYSTEM HOLDS KEY TO DRIVING DOWN HEALTH CARE COSTS
Topics:


Related Articles
/C O R R E C T I O N -- SIERRA ON-LINE/
/C O R R E C T I O N -- SIERRA ON-LINE/
SIERRA ANNOUNCES EARNINGS, NEW SENIOR EXECUTIVE
PARALLEL TECHNOLOGIES ANNOUNCES STRATEGIC ALLIANCE WITH INTERNATIONAL BUSINESS MACHINES CORPORATION
SIERRA ON-LINE INC. POSTS 24 PERCENT HIGHER REVENUES FOR FISCAL YEAR 1992
THE SIERRA NETWORK(TM) MAKES ON-LINE FUN AFFORDABLE FOR FAMILIES WITH NATIONWIDE FLAT RATE PRICING
LINK TO THE SIERRA NETWORK WILL BRING MORE FUN AND GAMES TO PRODIGY SERVICE MEMBERS
WESTERN PUBLISHING AND SIERRA ON-LINE TO DEVELOP SOFTWARE FOR CHILDREN
You Bet and TSN Join Forces to Launch First Interactive Online Horse Racing Service
Sierra Health and TEAM Mucho Announce Distribution Alliance.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters