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May 9, 1997updated 05 Sep 2016 12:48pm

WAVEPHORE TO ACQUIRE PARACEL

By CBR Staff Writer

WavePhore Inc, the wireless data broadcasting specialist that in January teamed with Microsoft Corp to work on PC-TV technologies (CI No 3,075), says it will acquire Paracel Online Systems Inc, a provider of subscription internet-based corporate information services. The agreement calls for payment to Paracel of $3m at the close of the deal, another $6m after 180 days and possible future considerations. WavePhore says the combined operation will provide real-time business intelligence to roughly 125 corporate customers. A spokesperson for WavePhore said the company had earmarked slightly more than the $9m it is promising Paracel for the research and development of its own internet-based broadcast system, so the acquisition makes sense. WavePhore recently reported a first-quarter net loss of $3.5m on revenue of $3.7m, after losing $10.3m last year and $16m in 1995. Despite support from Microsoft, Compaq and Intel – which invested $4m for a 3% stake in WavePhore last year – the company has never made money but says it is hoping for profitability by the end of 1998.

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