BURLINGAME, Calif., March 6, 2001 (PRIMEZONE) -- SpotOn Inc., a leading provider of rich media communications technology, announced today its intention to sell all or part of its business and has retained the advisory services of Rainmaker Capital to assist in the process. After considering a range of strategic alternatives, SpotOn's Board of Directors determined that the best course of action would be to integrate the company's business communications platform into a company with the sales & marketing infrastructure to sell SpotOn's solutions on a larger scale.
If the company is unsuccessful in finding an appropriate buyer, it plans to close down its operations and Web site by end of March 2001.
SpotOn's rich media business communications platform helps sales and marketing professionals improve the efficiency and impact of their entire sales cycle, from generating awareness to closing customers. Positioned as an "eCollateral" solution, SpotOn allows companies to quickly create voice-enabled, online presentations (called "WebTours") from any Web-based or PowerPoint content. Users can send these presentations as a simple email link and monitor responses in real-time using SpotOn's advanced tracking capabilities. SpotOn presentations can be viewed by anyone with a Web browser.
SpotOn's consumer and business solutions were both awarded top, five-star ratings by ZDNet. The company has acquired more than 300,000 consumer and business customers and is highly regarded amongst sales organizations in the high-technology, electronics, automotive and publishing industries.
According to SpotOn CEO Philip Copeland: "While it is disappointing not to continue as a standalone company, this is the best decision given the current funding climate. We have a powerful, best-of-breed solution that can complement and strengthen an existing eCRM offering."
The company is currently engaging in discussions with potential buyers offering eSales, eMarketing and eSupport solutions.
SpotOn's patent-pending authoring and player technology also presents significant opportunities in the wireless market, as an efficient and rich media approach to delivering advertising and other key messages via handheld devices. Early demonstrations and discussions have captured the interest of Japanese companies and investors in the wireless, electronics and business solutions markets.
"The company has established excellent momentum with its new product offering," said Erik Ott, Partner at Rainmaker Capital and advisor to SpotOn. "A talented team has devoted the last 2 years to build a technology that is both deep and easy-to-use. SpotOn will `snap in' nicely and provide immediate revenue generating opportunities for an acquiring entity."
In the event the company closes down its services, current SpotOn users will be able to easily export any bookmarks or other data from SpotOn's applications for continued use.
About SpotOn, Inc.
SpotOn, Inc. (www.spoton.com) provides a business communications solution that enables sales professionals and Web sites to create rich media presentations, or "WebTours," from existing Web and PowerPoint content to influence and sell more effectively. SpotOn's WebTour authoring technology, player technology, advanced tracking services and hosting infrastructure together form a platform to dramatically improve the productivity of sales, marketing and other organizations with demanding communications needs. SpotOn is a privately held company headquartered in Burlingame, California with a second office in Sydney, Australia.
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CONTACT: SpotOn, Inc.
Masami Suzuki
650.259.8350, x104
msuzuki@spoton.com