Thanks, Chris. That's very interesting, and quite a press release.
Diane
>>> Robin Gabriel <[log in to unmask]> 02/02/00 03:41PM >>>
FYI: Thought I would pass along that the purchase of 2b Technology by
Ticketmaster was announced this morning. I've taken the below press
release directly from the TicketMaster Online-CitySearch site at
http://www.prnewswire.com/cgi-bin/micro_stories.pl?ACCT=138277&TICK=TMCS
&STORY=/www/story/02-02-2000/0001130005&EDATE=Feb+2,+2000.
--
Robin Gabriel
Director of Education
Monticello
P.O. Box 316
Charlottesville, VA 22902
(804) 984-9854
[log in to unmask]
Ticketmaster Online-CitySearch Acquires 2b
Technology, Inc.
Acquisition Expands Market Opportunity
Adding Premier Museum Ticketing and
Software
Company
PASADENA, Calif., Feb. 2 /PRNewswire/ --
Ticketmaster Online-CitySearch,
Inc. (Nasdaq: TMCS) announced today that it
has acquired 2b Technology, Inc.,
based in Richmond, Virginia, for
approximately $23 million in Ticketmaster
Online-CitySearch stock. 2b Technology is a
fast growing, fully-integrated
visitor management and ticketing firm
targeted at venues such as higher volume
museums, cultural institutions and historic
sites. The Company has over 300
leading clients including the British Museum,
the Guggenheim Museum, CNN
Studios Atlanta, Metropolitan Museum of Art,
the Tech Museum of Innovation San
Jose, the New England Aquarium and the Dallas
Zoo. In a related announcement,
Ticketmaster Online-CitySearch also announced
a new product suite that will
expand its online ticketing scope at the
local level.
"Our goal is to provide our venue
customers with the most innovative
solutions to meet their needs and help them
grow their reach, while allowing
our online users to get more and more things
done online," commented John
Pleasants, President of Ticketmaster
Online-CitySearch. "2b has developed a
premier reputation providing products and
services to leading museums,
cultural institutions, zoos and other general
admission attractions. We are
looking forward to working closely with the
2b team to continue their high
level of service to these premier clients,
while expanding the market for
their products."
2b Technology has three main business
products: a Web-based ticketing
product (http://www.museumtix.com), a
third-party ticketing service, and a
reservations, scheduling and admissions
software solution. 2b currently earns
revenue on over 2 million fee-generating
tickets and its clients sell over
90 million tickets annually. 2b Technology
was profitable in 1999.
"We are excited about the opportunity to
partner with Ticketmaster Online-
CitySearch," commented Eric Martin, President
and Chief Executive Officer of
2b Technology. "The combination of its
strong ties to local community and
cultural institutions and its strength in
ticketing make Ticketmaster Online-
CitySearch an ideal partner for 2b Technology
as we continue to grow in the
future."
"We will continue to provide our
customers with the highest level of
service and the best technological
solutions," added Bryan Bostic, Founder of
2b Technology. "We have always strived to
partner with our customers to help
increase their sales and improve productivity
by offering a complete visitor
management solution."
Ticketmaster Online-CitySearch's
acquisition of 2b Technology is another
step in a series of moves to further position
the company as the leading
innovator in online ticketing. The new
product suite consists of:
-- A Web-based self-service product for
smaller venues announced
separately today (developed by
Ticketmaster Online-CitySearch) - this
online product will serve a variety of
smaller venues, such as
nightclubs, community theater and
comedy clubs and is targeted at
venues selling several hundred tickets
a week. The product is
currently offered in Portland and
Seattle and will be rolled out
nationally by the citysearch.com sales
force within the next six
months.
-- A small to medium size venue product -
2b Technology's fully-integrated
visitor management and ticketing
solution. 2b's VISTA software is
targeted at venues such as higher
volume museums, cultural
institutions, historic sites and other
general admission attractions.
-- A Web-based full-service offering for
major venues - as the exclusive
provider of tickets online for
Ticketmaster, the leading provider of
tickets for sports, music and family
events at major venues,
ticketmaster.com provides tickets for
over 90 professional sports
franchises and thousands of leading
arenas, stadiums, performing arts
venues, and theaters.
-- A comprehensive event database -
through relationships such as the
marketing and distribution agreement
with CultureFinder.com,
Ticketmaster Online-CitySearch offers
an event database that gives
consumers one-stop access to
information and event ticketing for a
broad range of local cultural events
in addition to enhancing
ticketmaster.com's current cultural
event offering that includes
Broadway shows, theater, classical
music, opera, dance, jazz and
museums.
About Ticketmaster Online-CitySearch
Ticketmaster Online-CitySearch, Inc.
(Nasdaq: TMCS) is a leading local
portal and transactions company that provides
in-depth local content and
services to help people "get things done"
online. TMCS offers practical tools
for living that make the Internet an
indispensable part of peoples' everyday
lives. The TMCS family of Web sites includes
citysearch.com,
ticketmaster.com, store.ticketmaster.com,
cityauction.com, match.com,
oneandonlynetwork.com, sidewalk.com,
livedaily.com, astroabby.com,
reservations.citysearch.com and
jobs.citysearch.com. TMCS is located in
Pasadena, Calif.
Safe Harbor Statement under the Private
Securities Litigation Reform Act
of 1995
This press release contains
forward-looking statements about Ticketmaster
Online-CitySearch, Inc. (the "Company"),
including those concerning its future
product plans. These forward-looking
statements involve risks and
uncertainties. The Company's actual results
could differ materially from
these statements. Among the risks and
uncertainties that could adversely
affect the Company's actual results are: the
limited operating history and
early development stage of the Company; the
absence of history of Ticketmaster
Online as an independent company; the
Company's lack of profitability and
anticipation of continued losses; the
Company's dependence on its relationship
with Ticketmaster Corporation; control of the
Company by USA Networks, Inc.;
the potential for conflicts of interest; the
fact that the license agreement
between USA Networks, Ticketmaster
Corporation and the Company is subject to
certain limitations that are contained
therein; possible future sales of the
Company's securities by USA Networks, Inc.;
company integration risks; the
Company's dependence on increased ticket
sales; the Company's future capital
needs and the uncertainty of additional
financing; the unpredictability and
potential fluctuations in future revenues and
operating results. Investors
are encouraged to read the risks and
uncertainties detailed in the Company's
filings with the Securities and Exchange
Commission.
Ticketmaster Online-CitySearch is the
owner or licensee of its name and
logo trademarks and service marks. All other
trademarks and trade names are
the property of their respective owners.
Ticketmaster Online-CitySearch corporate
headquarters is located at
790 East Colorado Boulevard - Suite 200,
Pasadena, California, 91101;
+1-626-405-0050; fax +1-626-405-9929;
[log in to unmask]
SOURCE Ticketmaster Online-CitySearch, Inc.
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