Re: industry news posted from east orange, simonwide

[Glenn Barry <glenn@xxxxxxxxxxx>]

Are bamboo.com as Evil as IPIX?

Simon Nathan wrote:

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                                                            Business
News

                        bamboo.com, IPIX Merge

October 26, 1999
                        By Cyrus Afzali
                        InternetNews.com Managing Editor

Business News Archives

                        Interactive Pictures and bamboo.com Tuesday
merged in a deal that will create an
                        $850 million company specializing in interactive
visual content for the Internet.

                        IPIX shareholders will receive 1.3690 shares of
Bamboo (BAMB) for each share
                        they own. The combined company will be split
between shareholders of both.

                        Jim Phillips, IPIX chairman and chief executive
officer, will be chairman and chief
                        executive of the new company which will be
headquartered in Oak Ridge, Tenn.
                        The deal is expected to close in the first
quarter of next year.

                        The companies said the merger will allow IPIX
to:

                             Accelerate awareness and market adoption of
immersive photography and
                             establishing an industry standard for
virtual tours
                             Expand the company's market position
through an increased distribution and
                             sales force
                             Create a leading industry provider through
the combination of complementary
                             technologies
                             Provide opportunities for significant
revenue acceleration

                        "We are very excited about the combination of
our two companies as it brings
                        together the two leaders in Internet imaging,
enabling us to dramatically accelerate
                        the adoption of IPIX technology for business and
consumer applications. The
                        addition of bamboo.com's distribution
capabilities, seasoned sales force and
                        strategic relationships in the real estate
industry enhances our collective position in
                        the marketplace," Phillips said.

                        Kevin B. McCurdy, bamboo.com founder, said the
deal will allow bamboo.com to
                        build on its lead in the virtual tour industry.

                        "With the combined resources and shared vision
of bamboo.com and IPIX, the new
                        company will be an industry leader in many key
vertical markets," he said.

                        Bamboo went public in late August, selling 4
million shares at $7. The stock has
                        traded as high as 27-3/4.

                                                       Go to a printable
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--
Glenn Barry Photography
Studio 1, Level 1
2-14 Mountain St
Ultimo N.S.W. 2007
Australia
Ph (612) 9211 3080
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