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EnigmA Amiga Run 1996 June
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EnigmA AMIGA RUN 08 (1996)(G.R. Edizioni)(IT)[!][issue 1996-06][EARSAN CD VII].iso
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08-April-1996-press-release
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1996-04-18
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VIScorp (Logo)
FOR IMMEDIATE RELEASE
VISCORP MOVES TO ACQUIRE LEADING TECHNOLOGY COMPANY
Letter of Understanding Signed by Escom AG, Amiga Technologies and
VIScorp
Chicago, IL, April 11,1996 -- 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 functions, announced
that it has a binding letter of understanding to acquire the assets of
Amiga Technologies from Escom AG.
"We believe the Amiga television interface technology is clearly
superior to anything that now exists for ITV boxes," said William
Buck, VIScorp's chief executive officer. "Earlier this year, we
licensed this technology for our second-generation prototype box. The
proposed acquisition of Amiga would enable us to fully apply the
proprietary technologies, patents and copyrights that are vital to the
appearance, user appeal and functionality of our product."
The proposed acquisition would include the intellectual property of
the former Commodore Business Machines, except Commodore trademarks.
Terms were not disclosed. The pending acquisition would be subject to
the approval of both boards of directors.
Mr. Buck stated: "Aiding our time to market, the proposed acquisition
of Amiga would provide us with the installed base of our primary
target market for Internet-supported software program distribution,
which may ultimately lead to a new type of television network. This
intended acquisition is part of VIScorp's strategy to build market
leadership in the fast-growing field of ITV."
Mr. Buck explained that the proposed acquisition would give VIScorp
ownership of Amiga intellectual properties, including several that are
currently used in its set-top Electronic Device (ED), as well as
control over the supply of chip sets used in ED, Amiga inventories,
and access to the company's sales and distribution channels.
If the acquisition is completed, noted Mr. Buck, VIScorp anticipates
continued sales and support of popular Amiga computer models.
Commenting that the primary objective of the proposed acquisition is
to give VIScorp full access to the Amiga/Commodore technology to
support development of its ITV device, Mr. Buck said: "Our TVset-top
interactive boxes would give home users capabilities such as telephone
reception and dial-up, facsimile, pay-per-view options, electronic
mail, access to online services, including the Internet, and more."
Product names mentioned herein may be trademarks and/or registered
trademarks of their respective companies.
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VISCORP
111 North Canal Street, Suite 933
Chicago, IL 60606
Corporate Information Contact: Florine Radulovic
Voice 312.655.0903
FAX 312.655.0910
www.vistv.com