eMotion, Inc. and AudioBasket.com to Merge
Digital Media Management leader and Audio delivery provider merge to strengthen media management strategy and offering
WASHINGTON, D.C., USA, October 18, 2001 – eMotion, Inc., the
global leader in digital media management solutions today announced
the pending merger with San Francisco based AudioBasket.com, the
technology leader in the personalization of audio news and information
on the Web. The deal leverages the strengths of both companies,
and will add enhanced rich media format support and other features
to the eMotion MediaPartner™ 4.0 product.
"eMotion’s market focus and strategy, strong management
team and customer base, revenue momentum, and path to profitability
significantly enhance the value of AudioBasket for its shareholders"
said Steve Hyndman, CEO of AudioBasket. The deal is clearly a win
for both companies, eMotion will gain valuable transformation and
rich media format support from AudioBasket, and AudioBasket’s
leading edge technology will continue to proliferate through the
integration into eMotion’s flagship product MediaPartner.
"AudioBasket’s technology and expertise in rich media
– particularly its suitability for managing digital audio and
video files in a corporate enterprise environment – combine
with its capital resources to provide eMotion a broader technology
platform with greater capabilities to process and deliver rich media
files over the Internet and wireless networks," said eMotion
CEO, Bob Griffin, who will continue as CEO of the combined company.
Equally important, the deal provides the working capital to solidify
eMotion’s position as the market leader in Digital Media Management,
and supports the continuing research and development through the
time that eMotion is projected to achieve sustainable profitability.
As a combined company, eMotion will continue to be headquartered
in Washington, D.C., with offices in Los Angeles, Chicago, New York,
and London. The company will also consolidate its California offices
in the former AudioBasket headquarters in San Francisco. eMotion
expects to begin including elements of the integrated technology
as early as the 4.1 release of MediaPartner, scheduled for December
of this year. In addition to the technology and financial benefits
of the deal, the combined shareholder group – consisting of
an impressive mix of institutional, strategic, domestic, and international
investors – represents significant additional value that increases
the likelihood of success for the combined company.
For more information, contact press@emotion.com
About eMotion, Inc.
eMotion, Inc. is the global leader in digital media management software and services, with customers that include blue-chip companies, the advertising industry, entertainment and broadcast industries and government agencies. eMotion MediaPartner ™ 4.0, the company’s out-of-the box software solution with patented technology, powers the entire lifecycle of media management - from creation and collaboration to searching, storage and distribution. The technology is available either as a product license or in a hosted environment. eMotion is headquartered in Washington, D.C., with offices in San Francisco, Los Angeles, Chicago, New York, London and Birmingham (U.K.) Most recently, President and CEO Bob Griffin was named the 2001 Ernst & Young Entrepreneur of the Year in the software category for the Greater Washington area.
About AudioBasket.com
San Francisco-based AudioBasket has deployed an exclusive technology
platform that allows keyword personalization of audio news and information
on the Web and beyond. The Company has developed technology to automatically
process audio news and information and deliver customized news streams,
based on users’ individual profiles and preferences, via the
Internet and wireless networks to personal computers and a variety
of audio playback devices.
