NTN, the company to whom BMKS sold ZOOM, has picked up another company. The 20,000 shares of NTN may be worth a lot more one day.
NTN Communications, Inc. Acquires Assets of Hysen Technologies, Inc.
- Acquisition Expands NTN's Wireless Paging Offerings For the Hospitality Industry -
CARLSBAD, Calif., May 20 /PRNewswire-FirstCall/ -- NTN Communications, Inc. (Amex: NTN - News), the world's largest out-of-home interactive television network, announced today that it has reached an agreement to acquire the assets of Hysen Technologies Inc., subject to customary closing conditions. Hysen ranked as the fourth largest company in the hospitality paging industry for the year 2001. Today's transaction represents the second major paging company acquisition in as many months for NTN, demonstrating NTN's commitment to this industry segment. In April 2002, NTN acquired the assets of ZOOM Communications, the number three provider of wireless paging products in the hospitality wireless paging industry.
Hysen Technologies has been recognized as an innovator in the hospitality wireless paging industry with a strong presence in New England and selected national chain restaurant accounts. NTN will assume all of Hysen's existing inventory, intellectual property and associated assets, including Hysen's current customer base of approximately 1,400 full service restaurants. Manufactured under the SIGnologies(TM) brand name, Hysen Technologies' key products and services include: SPS 2000 server paging systems, GPS 2000 guest paging systems and server call light system technologies.
"Hysen's innovation lies in its technologically advanced line of server paging products, which complement the guest paging strengths we obtained as part of our recent acquisition of ZOOM", said Mark deGorter, President and Chief Operating Officer of the NTN Network. "Hysen's significant presence in the New England region, as well as the key hospitality chain accounts across the country, positions NTN to reach potential critical mass rapidly as we execute our deployment strategy in the hospitality wireless paging segment. Coupled with the ZOOM acquisition, we believe the Hysen acquisition further validates our strong commitment to becoming the leading provider of front-of-the-house services to the hospitality industry."
About NTN Communications, Inc.
Based in Carlsbad, CA, NTN Communications, Inc. (Amex: NTN - News) is the parent corporation of the NTN Network® division and Buzztime Entertainment, Inc., a subsidiary. The NTN Network division, which focuses on the out-of-home hospitality industries, is comprised of the NTN Network and NTN Wireless Communications, Inc. The NTN Network is the largest out of home interactive television network in the world. Through NTN's Digital Interactive Television technology, the NTN Network broadcasts entertainment and sports programming engaging more than 1.7 million players and reaching more than 6 million unique customers each month in approximately 3,600 North American hospitality locations such as TGIFriday's, Damon's, Applebee's, Buffalo Wild Wings, Bennigan's and others. NTN Wireless? manufactures, sells, and repairs paging equipment for the hospitality industry as well as providing on site messaging solutions for hospitals, church nurseries, salons, business offices and retail establishments. NTN Wireless also offers enhanced stored-value gift certificate and loyalty programs to improve customer retention. Buzztime Entertainment, Inc., with investment from Scientific-Atlanta, Inc., produces BUZZTIME(TM), the interactive television trivia channel, and live sports prediction games such as QB1® from its live interactive broadcast studio. Buzztime's partners include: Scientific-Atlanta, Inc., Liberate Technologies, Microsoft Corporation's MSN®TV and the National Football League.
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