IRVINE, Calif., April 14, 2004 (PRIMEZONE) -- Mergence Corporation (OTCBB:MRGN), a holding company that provides merger and acquisition services to Companies, announces eMovies On Demand's (eMOD) new compact Video on Demand System is ready for the largely unserved small hotel property market. The system is ideally suited for hotel properties in the 75 to 200 room range yet offers many of the amenities of much larger systems.
The eMOD System offers 30 titles or more plus unique proprietary channels of entertainment on demand. The titles include recent releases from the studios while the channels offer special interest programming including magazine shows and events.
The system utilizes the hotel's existing cable run and phone system for ordering and distribution so the system is easily and quickly installed. There is no front desk involvement and the system is remotely monitored and maintained virtually eliminating the need for hotel staff and engineering departments to charge-off or repair the system. Without any tape machines, the digital file server distributes movies directly to the rooms as ordered, there is less room and power required to operate the system.
"This marks the beginning of a new market for Mergence Corporation, while continuing to develop the Video on Demand market, we feel comfortable that our new product release will be a success in the Hotel Industry," said Tom Hemingway, Chairman and CEO
The small property market is fast growing in the hospitality industry as owners and management groups look to cut costs per guest and room. There are over 17,000 properties with over 2 million rooms in the 75 to 300 room range hotels, which accounts for over 50% of the total number of rooms in the US, according to the American Hotel and Lodging Association. Oxford expects to capture a significant number of these properties that are not being served by any form of pay-per-view.
About Mergence
Mergence Corporation, founded in 1994, is a Delaware-corporation with headquarters in Irvine, California. Mergence is a parent company for wholly owned subsidiaries, which are in the emerging movie-on-demand marketplace, primarily for the hotel/motel sectors and software technologies industries. Mergence Corporation provides merger and acquisition services to companies with promising services and/or products.
Safe Harbor
Statements herein express management's beliefs and expectations regarding future performance and are forward-looking and involve risks and uncertainties, including, but not limited to, the ability to negotiate outstanding prior debts of acquired companies; properly identify acquisition partners; adequately perform due diligence; manage and integrate acquired businesses; react to quarterly fluctuations in results; raise working capital and secure other financing; respond to competition and rapidly changing technology; deal with market and stock price fluctuations; and other risks. These risks are and will be detailed, from time to time, in Mergence Corporation's Securities and Exchange Commission filings, including Forms 10-KSB, 10-QSB and 8-K. Actual results may differ materially from management's expectations.
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