Kazoo3D PLC
16 May 2001
PRESS ANNOUNCEMENT
FOR IMMEDIATE RELEASE
16 May 2001
KAZOO3D PLC ('Kazoo3D' or the 'Company') - TO BE RENAMED ZOO DIGITAL GROUP PLC
('ZOO')
ACQUISITION OF THE BUSINESS AND CERTAIN ASSETS OF STARTLE DIGITAL MARKETING
LIMITED (IN ADMINISTRATIVE RECEIVERSHIP) ('Startle')
The board of Kazoo3D announces that it has purchased the business and certain
assets, including, inter alia, the goodwill, work in progress, employees and
intellectual property, of Startle for a cash consideration of £90,000.
Startle provides digital marketing solutions to a number of high profile,
brand owning clients, including Sony Computer Entertainment Europe, Benetton
Formula One, SEGA Europe and Bridgepoint Capital. The range of services
provided includes project management of digital strategies, creative and
production work for web, CD Rom, interactive television, touch-screen kiosk
devices and wireless devices. Startle is based in London and employs 13 staff.
For the six months ended 31 March 2001, Startle made an operating loss of £
36,000 on sales of £572,000, based on unaudited management accounts. The net
book value of the assets the subject of the acquisition amounted to £93,000 as
at 31 March 2001.
Commenting, Ian Stewart, Chief Executive Officer said: 'This opportunity
provides ZOO with a London base, a highly effective team of professionals
servicing an impressive client roster and additional, complementary skills to
enhance its own digital media offering. ZOO will integrate Startle's 13 staff
and will seek to develop further Startle's existing client relationships. All
technical support will be provided by the Sheffield facility, allowing wider
use of ZOO's proprietary tools.'
Note: Kazoo3D completed the acquisition of ZOO Media Corporation Limited on 14
May 2001. The Company is to be renamed ZOO Digital Group plc subject to
shareholder approval at an extraordinary general meeting to be held on 29 May
2001, notice of which was posted to shareholders on 25 April 2001.
Enquiries:
Kazoo3D plc Tel: 0114 241 3700
Ian Stewart, Chief Executive Officer
Robert Deri, Chief Financial Officer
Hogarth Partnership Limited Tel: 020 7357 9477
James Longfield
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