Push technology outfit, PointCast Inc is to abandon the Asian Edition of its PointCast Network web-based information service, after an agreement collapsed with the China Internet Corp. The company’s exit from the Asian market comes in the same week that speculation emerged the company may have abandoned its initial public offering, and is instead looking for a buyer (CI No 3,436). PointCast would not speak to Computergram, as it is in the quiet period in the run up to its IPO. A spokesperson at PointCast insisted that the company has said nothing about abandoning the IPO. PointCast has blamed its exit from Asia on the region’s economic difficulties. It started its Asian Edition in December, but has failed to finalize the agreement with Hong Kong-based China Internet Corp which was initiated last February, and would have led to the establishment of a joint venture company (CI No 3,127). The service, which caters for SouthEast Asia and Greater China will stop on July 1, but PointCast’s Japanese Edition, which kicked off last October, will continue. It is not known whether PointCast will re-enter the Asian space in the future, but it does plan to continue to expand the PointCast Network to other countries and geographic regions.
