Copernic Inc. Announces the Sale of its Search Assets
2009年5月15日 - 5:30AM
Marketwired
Copernic Inc., (the "Company"), (NASDAQ: CNIC), a leading software
development company in the technology sector, specializing in
internet, desktop and mobile search products, today reported that
it entered into an agreement to sell Mamma.com and its third party
Ad Network for USD 5 million to Empresario, a privately owned
digital media network based in Chicago, Illinois. The transaction
is subject to customary closing conditions, including the approval
of the sale by the shareholders of Copernic.
Copernic's desktop search business including CDS Corporate, CDS
Professional, and CDS Home products along with Copernic Agent,
Summarizer and Tracker will be retained.
Shareholder approval will be solicited at the Company's Annual
General Meeting and Special Shareholders' Meeting on June 17, 2009
with the transaction anticipated closing on or before June 30,
2009. The purchaser will pay the purchase price by way of 25 equal
monthly payments of USD 200,000. The agreement also stipulates that
if the purchaser makes a monthly payment of less than USD 200,000,
as required, the purchase price shall be increased by the amount of
any shortfall. The outstanding balance of the purchase price will
bear interest at the rate of 4% per year, compounded monthly and
shall accrue on a monthly basis. All such interest shall be paid 30
days after all of the outstanding amounts on the purchase price are
due and payable. Title to the sold assets shall remain with the
Company until all amounts due by the purchaser have been paid in
full.
Proceeds from the sale of these assets will be utilized to
invest in research and development to grow the Copernic desktop
search business.
Marc Ferland, President and CEO of Copernic stated that "search
and graphic advertising revenue has been in significant decline
over the past 3 years due to industry concentration in a few very
large competitors and consolidation of mid and low tier players. It
was time to crystallize the value of this important asset and
concentrate our resources in building winning products in the
desktop search market segment. Backed by over 10 years of product
development, Copernic can create shareholder value by the
application of proven technology and new proprietary advancements.
With the size of our company, Copernic needs to focus on developing
and marketing products where we have the resources and expertise.
Empresario, a search partner for many years, has a unique set of
assets and market positioning to capitalize on Mamma.com and its Ad
Network."
With the acquisition of Mamma.com, Empresario will now be able
to offer strategic value to its advertisers. Juan Rodriguez, SVP
Empresario, stated that "Mamma.com has a loyal user base spanning
generations and cultures, and our primary focus will be to enhance
the user experience on Mamma.com, creating additional value, for
both, our users and advertisers".
About Copernic Inc.
Copernic Inc. specializes in developing, marketing and selling
cutting-edge search technology, providing innovative home and
business software products and solutions for desktop, web and
mobile users, through its online properties, including
www.mamma.com and www.copernic.com.
About Empresario Inc.
Empresario is a privately owned digital media network based in
Chicago, Illinois. Empresario operates a meta-search platform,
multiple content driven community sites, and an advertiser network
that spans across several vertical markets.
Empresario also offers quality web services to distinguished
publishers. Its white-label product line allows digital publishers
to leverage Empresario's web applications and network
infrastructure under their own brands.
Statements contained in this press release, which are not
historical facts, are forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements are subject to risks and
uncertainties that can cause actual results to differ materially
from estimated results. Such risks and uncertainties are detailed
in the Company's filings with the Securities and Exchange
Commission and the Ontario Securities Commission. The Company
expressly disclaims any intent or obligation to update any
description of the scope, focus or subject matter of the statements
in this press release.
Contacts: Copernic Inc. Marc Ferland President and Chief
Executive Officer 418-527-0528 or Toll Free: 877-289-4682 #139
mferland@copernic.com www.copernic-inc.com
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