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|Originally Published: Thursday, 7 October 1999||Author: Jeff Alami|
|Published to: Press Releases/PR NewsWire||Page: 1/1 - [Printable]|
BusinessNet Holdings Corp. Acquires Equity Interest In Linuxlab, Inc.
BusinessNet Holdings Corp. announced today that it had completed the initial funding under an investment agreement to acquire a 10% equity interest in Linuxlab, Inc.
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NEWPORT, R.I., Oct. 7 /PRNewswire/ -- BusinessNet Holdings Corp. (OTC Bulletin Board: BNHC) announced today that it had completed the initial funding under an investment agreement to acquire a 10% equity interest in Linuxlab, Inc., the Silicon Valley-based developer and manufacturer of the new Linux-based WS300 "Plug and Play" Web Server.
Mr. Charles Liu, Chairman of Linuxlab, stated: "We are very pleased to have established this relationship with BusinessNet at this critical phase of our growth. Since we first announced the availability of our Linux-based WS300 web server, we have been focused on implementing our production and marketing programs with our strategic alliance members, U-Tron Technologies and API."
"We believe that during the coming year our web server will become the standard by which the price, capabilities and quality of our competition will be measured. Since our web server can load all present Windows-based web pages, it will be very cost efficient for both individuals and small businesses to have their own servers," Mr. Liu added.
Rounsevelle W. Schaum, Chairman of BusinessNet, stated: "We are particularly pleased to have this opportunity to support Linuxlab as it moves from its product development phase into production. Charles Liu, the Chairman, is the founder of the International Linux Association, the producer of the Linux World Book and an internationally recognized expert on Linux- based systems. We believe that the WS300 "Plug and Play" web server which he has developed will give every PC user, including individuals and small businesses, an affordable way to create and manage their own web site." For Additional Information: Linuxlab: Charles Liu, Chairman (408) 730-9222 BusinessNet: Rounsevelle W. Schaum, Chairman (401) 841-5294
SOURCE BusinessNet Holdings Corp.
/CONTACT: Charles Liu, Chairman of Linuxlab, 408-730-9222, or Rounsevelle W. Schaum, Chairman of BusinessNet, 401-841-5294/
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