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Due to the letter of understanding, VIScorp is restricted from releasing information relating to the negotiations until they are completed. Until such time, Amiga remains the asset of Amiga Technologies/Escom and all inquires relating to current Amiga operations should be directed to Amiga Technologies/Escom.
Our intent to purchase the Amiga comes out of (i) an appreciation of the core technology and its importance to VIScorp's long-term business development and (ii) a belief that the Amiga can -- like the Phoenix -- rise from the ashes and become a profitable technology for the future.
Over the coming days and weeks we anticipate to see a flood a mis-statements in the press, on the Net and via voice communications -- some will be made out of ignorance, others out of malice. We will do our best to keep the Amiga community regularly informed. We have received hundreds of messages and anticipate many more to be received until final resolution of formal negotiations is completed. While we are making every effort to do so, please excuse us if we do not respond to your individual message.
David Rosen Vice President, Business Development
Info: Gilles Bourdin - AMIGA Technologies GmbH - Berliner Ring 89 - D-64625 BENSHEIM Tel +49 6251 802 210 - Fax +49 6251 802 128 email gbo@amiga.de - Amiga Technologies
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.
"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 term 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."
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."
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."
Product names mentioned herein may be trademarks and/or registered trademarks of their respective companies.
Info: Gilles Bourdin - AMIGA Technologies GmbH - Berliner Ring 89 - D-64625 BENSHEIM Tel +49 6251 802 210 - Fax +49 6251 802 128 email gbo@amiga.de - Amiga Technologies
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