Subject: Medio Update From: NinaBondarook@medio.net (Nina Bondarook) Date: Fri, 7 Jul 1995 08:23:47 -0700
How the Web Was Won
Subject: Medio Update
From: NinaBondarook@medio.net (Nina Bondarook)
Date: Fri, 7 Jul 1995 08:23:47 -0700
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For those of you who have been following our story....Thanks for your
ongoing support, and here's the latest.
Regards,
Nina B.
For Immediate Release
July 5, 1995
ConnectSoft and Medio Sign Letter of Intent
Arrangement marries emerging leaders of digital communication,
commerce and content
BELLEVUE, Wash. -July 5, 1995 - ConnectSoft, Inc., announced
today that it has signed a letter of intent to acquire Medio
Multimedia. ConnectSoft is the provider of the most powerful and easy-
to-use interfaces to digital communication and commerce and Medio is
well-known as a leading publisher of highly interactive CD-ROM-based
multimedia titles, magazines and on-line software that brings together
exciting, high-quality content with state-of-the-art multimedia
technologies. The deal is contingent on the completion of due
diligence and final documentation as well as Medio creditor and
ConnectSoft shareholder and board approval. The parties expect to
close the acquisition by the end of this month.
"Medio has great product distribution, the best-selling CD-ROM
magazine, numerous award-winning titles and has made significant
headway with hybrid CD-ROM/on-line technologies," said Mitchell
London, Chairman and CEO of ConnectSoft. "Combining their technology,
content and products with ours will enable us to jointly pursue many
exciting new opportunities in the on-line and consumer software
arenas."
"The synergy between the two companies make this acquisition
ideal. I*m personally very excited as our companies share a similar
vision and philosophy regarding the potential of interactive
technologies and the roles they will play in the future," said Steve
Podradchik, president and CEO of Medio. "Although a number of
companies approached us about possibly acquiring Medio, the
combination of ConnectSoft*s strong digital communications and
commerce technology with our multimedia publishing expertise made the
most sense."
ConnectSoft, founded in January 1988, currently employs more than=20
140 people in its Bellevue and Kirkland, Wash. offices. ConnectSoft
operates three divisions (Consumer Online Products
and Services, Commercial Software Development Services and Commercial
Network Services) that are each highly regarded for their innovative
solutions and use of technology. Through its Consumer Online Products
and Services division, the company markets a family of Windows-based
telecommunication programs known as "Desktop Connections" for
accessing on-line information services. Additionally, ConnectSoft*s
Commercial Software Development Services division provides consulting
software development services primarily to commercial PC software
publishers, peripheral manufacturers and Fortune 1000 clients. The
recently formed Commercial Network Services division, was created to
focus on the development of a high-quality, national Internet and
TCP/IP service.
Based in Redmond, Wash,. Medio Multimedia Inc. is a leading
publisher of highly interactive multimedia titles, magazines and on-
line software that brings together exciting, high-quality content with
state-of-the-art multimedia technologies. Medio has created and
published award-winning products such as JFK Assassination: A Visual
Investigation=D6, Vietnam, Jets!, World Beat, Exploring Ancient
Architecture=D6, Safari, Extreme Sports and Medio Magazine=D6.
# # #
ConnectSoft is a registered trademark of ConnectSoft, Inc.
Medio, the Medio logo and Medio Multimedia are trademarks of Medio
Multimedia Inc. Other product and corporate names may be trademarks
or registered trademarks of other companies and are used only for
explanation and to the owners* benefit, without intent to infringe.
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Nina Bondarook, On-Line Services Business Development Manager
Medio Multimedia Inc., 2643 151st Place N.E., Redmond, WA 98052-5562
Voice: 206/867-5500 ext. 280 Fax: 206/883-8412
ninabondarook@medio.net or ninab@medio.com
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