(OTCBB:WINE) GourmetMarket.com Acquires Williams Software Inc. d/b/a FirstPop Technologies; Interactive Marketing Company Changing its Name to TargitInteractive Inc.
PORTSMOUTH, N.H.--(BUSINESS WIRE)--July 27, 2001-- GourmetMarket.com announced today that it has completed the acquisition of Williams Software Inc. d/b/a FirstPop Technologies, a privately held interactive marketing company based in Deerfield Beach, Fla. This acquisition is consistent with the Company's strategy of increasing shareholder value by building a full function interactive marketing company. This marks the second expansion of the Company's interactive marketing operations, which started with the acquisition of TargitMail, a permission based e-mail marketing company, in May of this year. The new combined company will be headquareterd in Portsmouth, N.H.
The Company also announced that James Baker, FirstPop's Chairman and CEO, has been named President and Chief Operating Officer of the Company, and has joined the Board of Directors. David Smith, a FirstPop Board Member, has been named Executive Vice President of the Company.
Noel Guillama, Chairman of GourmetMarket, stated: "We are happy to add FirstPop's proprietary technology, management expertise and extensive market knowledge to our existing operations. As we continue building a leading interactive marketing company, we believe this transaction is an excellent opportunity for our stockholders."
James Baker, President and COO stated: "After TargitMail was acquired in May 2001, the operations of the two companies were combined and FirstPop's management began working with TargitMail to achieve a smooth integration of the two entities. With the finalization of the FirstPop acquisition, our product and service offerings have been significantly expanded to provide more of a one-stop-shop. As an interactive marketing service provider, we believe that our side-by-side offerings of e-mail and instant windows, combined with our creative capability, make us the leader in the interactive marketing industry."
The Company also announced that it has mailed an Information Statement to its stockholders giving notice of a 30-1 reverse stock split of the Company's outstanding common stock. The Company's name will change to TargitInteractive Inc. to reflect its new focus as an interactive marketing company.
MCG Partners Inc., a Boca Raton-based merchant-banking firm, acted as financial advisor to the Company.
About FirstPop
Formed in 1999, FirstPop Technologies has developed a unique message delivery system platform for use by corporate clients for broadcasting marketing or corporate messages across the Internet or through private intranets or extranets. FirstPop's clients and affiliates include Arm and Hammer, Dell Computer, and IBM. The company anticipates sales of over $1 million for 2001.
About TargitMail
Based in Portsmouth, N.H., TargitMail is a permission based e-mail marketing company whose mission is to be the leading provider of permission based e-mail marketing services and solutions to businesses ranging from small office/home office businesses to Fortune 500 companies. TargitMail aggregates their e-mail active end-use customers into a unified database of rich profiles that enables marketers to launch cost effective direct e-mail marketing campaigns to targeted recipients. The company utilizes its proprietary Electronic Targeted Opt-In Messaging (eTOM) network to collect, sort and analyze e-mail addresses and relevant marketing information as well as cost effectively send advertisements to e-mail recipients in TargitMail's database on a permission only basis.
TargitMail's sales increased from approximately $2 million in 1999 to over $6 million in 2000. The e-mail marketing industry has recently achieved critical mass, and is projected to grow from an estimated $164 million in 2000 to approximately $7.3 billion by 2005, solidifying this channel as the critical advertising application for the future.
Forward Looking Statements
This release contains certain forward-looking statements regarding GourmetMarket.com, including statements about its operations, prospects and expectations about future financial results, including, but not limited to, future revenues and earnings. These forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially and are subject to change at any time. The Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Investors are cautioned that all forward-looking statements involve risk and uncertainties, including those risks and uncertainties detailed in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2000 filed with the SEC.
CONTACT: TargitInteractive,
Portsmouth
James R. Brown, 603/766-8300
or
MCG Partners, Boca Raton, Fla.
Mindy Stein, 561/620-9234
GOURMETMARKET.COM INC - WINE
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:=) Gary Swancey
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