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Here is most of the Omega-WOW Article for your decernation or as
much as you can stomach..........
"Omega Research, Inc. (Nasdaq: OMGA), a leading provider of
real-time investment analysis software, today announced that it has
acquired privately held Window On WallStreet Inc., a leading
Internet-based provider of streaming real-time and historical quotes
and a developer of award-winning, on-line investment analysis tools.
Omega Research has exchanged 2 million newly issued shares of its
common stock for all of the issued and outstanding shares of Window On
WallStreet. Omega Research will also repay in accordance with its
terms approximately $4.1 million of outstanding Window On WallStreet
indebtedness. The merger, which will be accounted for as a pooling of
interests, will leave Window On WallStreet's shareholders with
approximately 8 percent of the issued and outstanding common stock of
Omega Research.
Bill Cruz, co-chairman of the board and co-chief executive
officer of Omega Research, commented, "We believe this merger will
sharply accelerate the roll out of our Internet strategy and ignite an
exciting period of aggressive growth for Omega Research. Acquiring the
Financial Data Cast Network(TM), one of the Internet's most
sophisticated streaming real-time quote services, along with a host of
powerful, award-winning investment analysis tools, including Internet
Trader (formerly Window On WallStreet) and Day Trader, is expected to
greatly enhance Omega Research's competitive position in the
marketplace.
"We believe this merger combines the industry's two finest
front-end analytical tools with the industry's best Internet-based
streaming real-time data service and will allow us, for the first
time, to offer customers a complete seamless solution. While we will
begin immediately to integrate our newly expanded array of products
and technology to seek to take advantage of the tremendous growth
potential offered by the Internet, we also remain committed to
supporting Window On WallStreet's large installed base of loyal users.
By leveraging our brands and integrating the best features and
functions of both product lines, we expect to significantly increase
the value proposition for our combined customer base."
November Conference Call
As previously disclosed, Omega Research has scheduled a
conference call for November 8, 1999, to discuss the company's rapidly
evolving Internet strategy and its prospects to significantly expand
the company's customer base in the years ahead. Further details on the
timing of the conference call will be distributed prior to the call.
Keith Black, president of Window on WallStreet, said, "In
addition to creating some of the Internet's most powerful
Internet-based analytical tools over the last two years, we have
developed a state-of-the-art solution for delivering streaming
real-time quotes via the Internet. We believe that combining our two
businesses in a way that broadens the market for both companies will
enable us to leverage Window On WallStreet's investment in technology
far more quickly and efficiently than we could on a stand-alone
basis."
Omega Research has acquired valuable Internet technology and an
experienced team of professionals. Among the highlights of the
acquisition:
Financial Data Cast Network (FDCN)
A sophisticated Internet-based subscription service that delivers
streaming real-time quotes, and historical intraday and daily price
data for charts on demand. FDCN includes Nasdaq Level II bid and ask
quotes, fundamental financial information, and real-time streaming
news. This technology is anticipated to allow Omega Research to offer
customers a fully integrated solution using streaming real-time data
to drive the company's powerful analytical tools.
Award Winning Internet Analysis Tools
Over the last five years, Window On WallStreet has received more
editorial and industry awards for its product line than any other
provider in its category. In 1997, the company was awarded the
prestigious Codie Award from the Software and Information Industry
Association. The company's products were Codie Award finalists in
1999, and have won five first-place awards from highly recognized
organizations since 1994. These awards include:
- 1997 Software Publishing Association Codie Award for Best New
Business Software Program of the Year
- Home PC Editors' Choice Top 100 Software for 1997
- PC Magazine Editors' Choice Award for Personal Investment
Software (1996)
- American Association of Individual Investors rated a perfect
score for Technical Analysis Software (1996)
- PC Magazine Editors' Choice Award for Personal Investment
Software (1995)
Talented Team
In addition to a solid and innovative staff, Window On WallStreet
adds a number of talented developers and marketing executives to the
strong team at Omega Research. As a unit of Omega Research, Window On
WallStreet will continue to operate from its offices in the
Dallas-Fort Worth area, enhancing the company's ability to recruit
from one of the nation's premier technology centers."
You
Likey..............jimmy
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