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- Path: coranto.ucs.mun.ca!gnoel
- From: gnoel@morgan.ucs.mun.ca (George Noel)
- Newsgroups: comp.sys.amiga.misc,comp.sys.amiga.advocacy
- Subject: Re: VISCORP Deal
- Date: 14 Apr 1996 06:57:58 GMT
- Organization: Memorial University of Newfoundland
- Sender: gnoel@plato.ucs.mun.ca
- Message-ID: <4kq7lm$9fs@coranto.ucs.mun.ca>
- References: <4kjhhc$erd@coranto.ucs.mun.ca>
- NNTP-Posting-Host: plato.ucs.mun.ca
- Summary: Hold on now!
- Keywords: Explain please!
-
- In article <4kjhhc$erd@coranto.ucs.mun.ca>,
- Byron Montgomerie <bmontgom@morgan.ucs.mun.ca> wrote:
- >VISCORP USA AND ESCOM AG ANNOUNCE LETTER OF UNDERSTANDING FOR ACQUISITION
- >OF AMIGA TECHNOLOGIES BY VISCORP
- >
- >Heppenheim, Germany and Chicago, IL, April 12, 1996 -- ESCOM AG, a German
- >computer manufacturer and reseller and Visual Information Services Corp.
- >(Nasdaq: VICP, Bulletin Board), a developer of interactive TV (ITV)
- >set-top-boxes to enhance television use and viewing by providing Internet
- >access and electronic communications function, today jointly announced that
- >a binding letter of understanding has been signed between the companies.
- >
- >The letter states that Chicago-based VIScorp would acquire Amiga
- >Technologies, including the intellectual properties of the former Commodore
- >Business Machines, excepted Commodore trademarks. The transaction value is
- >approximately US $40 million. Terms were not disclosed, and the pending
- >acquisition would be subject to approval by both companies' boards of
- >directors.
-
- Hold it now.. I thought they were just going to LICENSE the AMIGA
- TECNOLOGY and not BUY Amiga Technologies and the rights to the Amiga and
- the chipset etc. Is this what I am reading? Did Helmut Jost indeed get
- rid of the Amiga but hold onto Commodore Trademarks and patents? Was
- this not their intention in the first place?!
-
- >"This intended acquisition is part of VIScorp's strategy to build market
- >leadership in the fast-growing field of ITV", said William Buck, Chief
- >Executive Officer. "As a result, we would own Amiga intellectual
- >properties, including several that are currently used in our set top-box,
- >Electronic Device (ED«). We would also have control over the supplied chip
- >sets used in ED as well as Amiga inventories and access to the company's
- >current sales and distribution channels."
- >
- >Commenting the proposed acquisition, Helmut Jost, chief executive of ESCOM
- >AG, said: "VIScorp has a clear vision of the Amiga technology potential for
- >ITV applications. We are eager to support and work together over the terms
- >of the letter of understanding to ensure a smooth transition between the
- >two companies. VIScorp anticipates the support of ongoing European sales of
- >popular models such as the A4000T and the A1200 as well as the current
- >developments and future releases of Amiga Technologies."
-
- Is this not what I am reading?
-
- >Petro Tyschtschenko, president of Amiga Technologies stated "I am looking
- >forward to being able to take advantage of the research and development
- >support potential that an Amiga-related company like VIScorp can
- >provide."
-
- Selling out are we?
-
- >Commenting that the primary objective of the proposed acquisition is to
- >give VIScorp full access to the Amiga technology to support development of
- >its ITV device, Mr. Buck noted: "Our intention is to rapidly develop and
- >begin manufacturing TV set-top interactive boxes -- products that give home
- >users capabilities such as telephone reception and dial up capabilities,
- >facsimile, video games, pay-per-view options, electronic mail, and access
- >to on-line services, including the Internet."
-
- Could someone official explain this letter of understand as the press
- release and this letter along with recent interviews make this mess very
- confusing.
-
- -=*George*=-
-
-
-