BCE Emergis Snaps Up InvoiceLink Montreal, Quebec - Tuesday, August 29, 2000, 7:03 AM EDT
MEDIA ADVISORY
Media are invited to listen in on the financial analyst
conference call discussing the contents of the attached press
release.
The conference call will start this morning, August 29, 2000 at
9:30 a.m. and will be:
* broadcast live via the Web at www.emergis.com
* accessible by phone Toronto: (416) 695-5806, outside
Toronto: (800) 273-9672
The conference call replay will be available:
* Starting at 1:00 p.m. on August 29th, for 48 hours, by
phone at (416) 695-5800 or (800) 408-3053 (pass code:
547897).
* Or starting August 31st on www.emergis.com
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For additional information:
Sylvia Morin
Director, Corporate Communications
BCE Emergis
514 868-2358
BCE Emergis Snaps Up InvoiceLink Corporation
Adds Advanced B2B Invoice Presentment and Payment Technology and
Another Building Block for Expansion into the U.S
BCE Emergis Inc. today announced that it has entered into a
definitive agreement to acquire InvoiceLink Corporation, of
Greensboro, North Carolina, a privately-held company and a
technology leader in Web-based invoicing and payment solutions
for B2B applications. InvoiceLink has developed and patented a
best-of-breed electronic invoice presentment and payment (EIPP)
technology. In the U.S., BCE Emergis will leverage the strength
of this technology to further develop its B2B services in the
e-health and financial services sectors and will bolster
InvoiceLink's ability to offer EIPP to companies. In Canada, BCE
Emergis will integrate this technology into its leading-edge
e-commerce solutions.
BCE Emergis will acquire InvoiceLink for a purchase price of
US$88.3 million payable in BCE Emergis shares and options. As
well, BCE Emergis will repay InvoiceLink's US$5.3 million in
debt. At closing, BCE Emergis will issue shares and options
representing 50% of the purchase price, while the balance of the
purchase price will be paid in three share installments on the
anniversary dates of the closing, subject to certain terms and
conditions. The transaction, subject to closing conditions
including regulatory approvals, is anticipated to be completed in
September 2000.
"This acquisition clearly positions us at the forefront of the
North American B2B electronic invoice presentment and payment
market. It gives us an important edge, at an important time, in
this emerging EIPP market", stated Brian Edwards, President and
CEO of BCE Emergis. "We plan to combine InvoiceLink's
state-of-the-art technology with our electronic bill presentment
expertise developed in the B2C market and to expand this offering
in Canada. This technology will be a key success factor for our
bank-centric strategy in the U.S. to address the financial
services market. Furthermore, on the strength of their
technology, InvoiceLink is developing a promising pipeline of
customers."
Edwards further added that BCE Emergis will integrate
InvoiceLink's B2B EIPP application with its other solutions,
including electronic procurement and security, as well as
electronic claims processing in the healthcare area.
Founded in 1997, InvoiceLink has created a solution that
addresses the complexity of the B2B invoicing and payment
process. InvoiceLink's technology, integrated architecture and
comprehensive functionality is a compelling solution for the
challenging requirements of B2B invoicing and payment. It allows
trading partners of a company to electronically receive and pay
invoices over the Internet, dispute entire invoices or individual
line items, pay selected invoices over the Internet, view payment
information and history. It also provides billers with an
extensive back office system to support their customer
operations. Employing some 60 people, InvoiceLink has a strong
and experienced management team and a knowledgeable core
development team that will continue on with Alan Neely, its
president, and BCE Emergis. As part of the agreement, and in
order to retain skilled resources, BCE Emergis has agreed to
rollover InvoiceLink's employee share option plan. InvoiceLink
will continue to operate its head office in Greensboro, North
Carolina and its national sales office in Atlanta, Georgia, and
will adopt the BCE Emergis name after the closing.
InvoiceLink, whose focus has been to develop its state-of-the-art
technology, has yet to record significant revenues and currently
has operating expenses of US $1 million per month. It is in the
initial stages of bringing its product to market. In 2001, it
expects to record US$5 million in revenue and a US$12 million
EBITDA loss.
InvoiceLink Corporation (www.invoicelink.com) is the knowledge
leader in Web-based invoicing and payment solutions for
business-to-business applications. InvoiceLink was founded in
1997 to offer major corporations, digital markets and their
trading partners a quick, low-cost and fully integrated solution
that eliminates the need for traditional, paper-based invoicing
and payment transactions. InvoiceLink business solutions are
driven by supplier and trading partner requirements and are
supported by the industry's best underlying technology.
InvoiceLink is based in Greensboro, N.C., with a national sales
office in Atlanta. Intersouth Partners of Durham, N.C., one of
the largest and most experienced early-stage venture funds in the
Southeast, having invested in over sixty private companies,
primarily in the Internet, information technology, and life
sciences sectors has been a financial investor in InvoiceLink.
For this agreement, InvoiceLink was advised by Broadview Int'l
LLC.
BCE Emergis delivers network-centric e-commerce services that
significantly improve customer processes through secure B2B
exchanges. Combining e-commerce, e-payment and security services,
BCE Emergis offers clients in the healthcare, financial services,
telecommunications and transportation industries a full suite of
core and vertical-specific services that are the essential
building blocks and infrastructure required for e-commerce. BCE
Emergis is one of the top e-commerce providers in North America
and its shares are included in the TSE 100 Composite Index. For
more information, please refer to www.emergis.com.
This news release contains certain forward-looking statements
that reflect the current views and/or expectations of BCE Emergis
with respect to its performance, business and future events. Such
statements are subject to a number of risks, uncertainties and
assumptions. Actual results and events may vary significantly.
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For information:
For media :
Sylvia Morin
Director, Corporate Communications
514 868-2358
e-mail : sylvia.morin@emergis.com
For investors:
John Gutpell
Director, Investor Relations
(514) 868-2232
e-mail: john.gutpell@emergis.com
BCE Emergis (TSE:IFM)
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