OTTAWA, Canada - August 31, 2000 - International Datacasting Corporation (TSE:IDC) announced that it has entered into definitive agreements and has closed the acquisition of Ottawa-based wireless Internet companies Storm Internet Services (Storm) and CDS/Prometheus (CDSP).
Ron Clifton, President and CEO of IDC, said, "These acquisitions will have a positive impact on both our domestic and international business. Now that the deal is done, IDC will be making the investments needed to help grow Storm's infrastructure to increase their coverage in what has become the region's largest wireless Internet network. This is great news for high-tech, government and other consumers looking for high-speed, wireless Internet access. In our international business, we will be integrating Storm's business model into our solutions offerings and exporting CDS's technology through our global distribution network. Both at home and around the world, IDC will be able to provide full, end-to-end wireless Internet and broadband content distribution infrastructure."
About CDS/Prometheus:
CDS/PROMETHEUS (CDSP) is a company devoted to information sharing and is the result of the merging of CDS Data Systems and PROMETHEUS Information Services, both founded in 1996. CDSP was formed in November 1999 as a merging of the teams of talented people from both companies with backgrounds in computers, networking, Intranet, Internet and high-speed communications. CDSP works with ISPs, architects, builders, property management companies, business and communities to provide 2 way high-speed Internet solutions. The solutions that are provided are in the 2Mb to 100Mb range and utilize the latest in wireless technology. Visit CDSP at www.cdsp.net.
About Storm:
Storm Internet officially went on-line July 15th, 1996, providing Internet access to home and business users with a wide variety of internet access services ranging from traditional analog 56K dial up access, domain hosting to dedicated high speed wireless internet connections. Storm prides itself on implementing the leading edge in new technologies to provide faster and more reliable connectivity, as well as simpler and more powerful web interfaces. In four years of operation, Storm's client base has grown to well over 3,000 users and revenues have had an average annual growth rate exceeding 100%. This growth has been achieved consistently and reliably because of the dedication and care taken to maintain excellent customer service. Visit Storm at www.storm.ca
About International Datacasting Corporation:
IDC (TSE:IDC) provides advanced systems and services for the broadband satellite distribution of digital data in a variety of point-to-multipoint applications. With an existing base in 35 countries worldwide, IDC is at the forefront of delivering IP-based satellite datacasting solutions. Applications for IDC's products include high-speed Internet-via-satellite networks, enterprise networks, distance education networks, radio networks, business radio networks, weather networks, financial information and paging networks. IDC is headquartered in Ottawa, Canada, has a US sales office in Atlanta, Georgia and markets internationally through an established network of partners and distributors. Visit IDC on the web at www.intldata.ca.
Certain of the above statements regarding IDC constitute forward-looking statements, which may involve risks and uncertainties. A variety of factors could cause actual results to differ from the anticipated results expressed in such forward-looking statements.
TEL: (613) 596-4120 International Datacasting Corporation Michael E. Rack E-mail: mrack@intldata.ca
TEL: (613) 567-6585 Storm Susan Brandt E-mail: susan@storm.ca
TEL: (613) 747-8845 CDS/PROMETHEUS Earl Matthews E-mail: earl@cdsp.net