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Press ReleaseTuesday 14 March, 2000 FURTHER EXPANSION OF POWERLAN’S E-COMMERCE AND WEB DEVELOPMENT EXPERTISE Powerlan Limited has expanded its Internet development and ASP deployment capability by the acquisition of WebTrax Pty Ltd – a Canberra based company which specialises in web development and web hosting services. WebTrax was established in 1995 with a dedicated focus on the development of complex, web-enabled software solutions. Pioneers in the development of database driven and full-text retrieval web systems, WebTrax has created world-leading sites such as Australia's Cultural Network (www.acn.net.au) which provide search facilities unmatched by any other search engine. WebTrax has also developed a number of e-commerce solutions – the first one in 1995 when e-commerce was still in its infancy. This experience will further strengthen Powerlan’s existing capabilities in the area of e-business enablement. "Powerlan’s access to broader markets in Australia and Asia provides us with a unique opportunity to capitalise on years of investments we put in developing our e-business expertise" said Peter Thomas, the founder and the Managing Director of WebTrax. In web hosting services WebTrax provides a full range of web serving platform (Windows NT, Unix, and Macintosh) and a wide range of back end software and database platforms (such as Active Server Pages, Cold Fusion, PERL, MS SQL Server, Oracle, 4th Dimension, and FileMaker). The cost of the acquisition is subject to a confidentiality agreement and was paid by a combination of cash and Powerlan ordinary shares issued at market prices. The acquisition price represented an earnings before interest and tax multiple for the year ending 30 June 2000 of 4 times. Mr Theo Baker, the Managing Director of Powerlan said, "The WebTrax acquisition is the final piece in our strategy for launching our ASP Portal. WebTrax's skills in web hosting and back-end Internet development capability will both strengthen and complete our ability to deliver a leading ASP service. We have been preparing for this ASP launch for some time now as we wanted to ensure our service is comprehensive at the start. We are now very close to being ready for the launch." For further information please contact: Mr. Theo Baker |
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