Hong Kong, April 13, 1999
Web Connection Japan Established
— LINC Media today announced that its Communications Division has been purchased by leading Hong Kong-based digital communications and Internet development company, the Web Connection Ltd. The Division, which creates, manages, and markets Web sites on a fee basis for commercial customers, will transfer all the related employees, customer accounts, and other assets to the Web Connection by the end of the month. As part of the acquisition, the Web Connection will create a Japanese company called the Web Connection Japan, and will continue to service existing and pending Web customers from LINC Media. In addition, LINC Media will sell Web services in partnership with the Web Connection Japan.
The acquisition will allow the Web Connection to offer Asia-wide services for multinationals, thanks to recent expansion of the company in Taipei, Beijing, Shanghai, and Singapore. At the same time, it will allow LINC Media to focus its energies on technology development and its own media - including Computing Japan and the rapidly growing Dai-Job.com recruiting web site.
The deal was for an undisclosed amount, and involves LINC Media remaining a shareholder and partner in the new company. Web Connection Managing Director, Peter Hamilton, said, "We have been looking for the right partner in Japan for some time now, and we are delighted with the synergy between the two companies. This partnership will accelerate our business development in Japan considerably."
About The Connection Group
The Connection Group, of which the Web Connection is part, (http://www.twc-asia.com), is Asia's leading Internet development company. Founded in 1995, it offers consulting and implementation services to companies seeking real returns on their Internet investment. The Connection Group's customers include such well-known organizations and companies as the Hong Kong Tourist Association, Hong Kong Convention and Exhibition Centre, New World Development, IBM, Star TV, Prudential Assurance Asia, Mandarin Oriental Hotel Group, Review Publishing Group, Sunday, Credit Lyonnais, and Reuters.
About LINC Media Inc
LINC Media Inc., is a technology, publishing, and marketing company founded by local entrepreneur Terrie Lloyd in November, 1996. Following the deal, the company has 5 divisions, covering Consulting, Media (www.dai-job.com and www.cjmag.co.jp), Systems Integration, Outsourcing, and Software development. The company's customers include a number of Fortune 500 banks, securities companies, manufacturers, and other multinationals.
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