Press  Releases - Partnership  Releases  Archive

Print print  close window Close
BRIDGES.COM
Announces Proposed Acquisition of Careerware, a business unit of ISM Information Systems Management Corporation, a wholly owned subsidiary of IBM Canada Ltd.



February 8, 2000

Kelowna B.C. - Bridges.com Inc. (CDNX: BIT), North America's leading provider of online career and educational services to middle and secondary schools, today announced the signing of a Memorandum of Understanding for the acquisition of the assets of Careerware, a business unit of ISM Information Systems Management Corporation ("ISM"). As part of the transaction, Bridges.com intends to offer employment to all of the approximately 45 employees involved in the Careerware business. The deal is anticipated to close on March 31, 2000, subject to financing and other usual conditions.

The acquisition will double Bridges.com's market share of career information services to North American middle and secondary schools to 25 per cent. Almost five million students in over 9,000 schools will have access to Bridges.com's resources.

With more than 7,000 school, college, and government customers, Careerware is currently the top provider of career information delivery systems in North America. The company's Choices product line - primarily provided on CD-ROM to schools - is the career information delivery system for 13 states and four provinces.

Bridges.com Chairman, John Simmons, said the acquisition is a major milestone for the company, and is in line with its stated growth strategy. "In the Internet economy, rapid acquisition of market share is necessary to establish a company's brand. Our 25 per cent market share following this acquisition will position Bridges.com as a key player for strategic partnering in this sector."

Simmons said the deal also enhances the company's ability to develop new business. "More than one million of the 4.9 million students who will have access to our services are graduating seniors. This provides us with a strong base for the development of many new e*business opportunities."

Bridges.com CEO and President, Doug Manning, said Careerware's Choices and Bridges.com's Career Explorer are complementary resources. "We can now unify the best aspects of both resources into one career 'super-product.' This will provide increased value to our customers, and will better position our products for migration into the rapidly emerging e*learning marketplace."

The number of schools accessing Bridges.com's services more than doubled last year from 2,305 in December 1998 to 4,742 in December 1999. The company's community of individual planners, featuring over 2.3 million students, recorded 41 million page views on Bridges.com's tools in 1999.

Bridges.com also publishes 14 online daily career news services, including customized services in North Carolina, Pennsylvania, West Virginia and Manitoba. Bridges.com's resources keep people informed about emerging career opportunities, and enable them to take charge of achieving the future they desire. Bridges.com trades on the Canadian Venture Exchange under the symbol "BIT" and received conditional approval in December 1999 to list on the Toronto Stock Exchange.

Bridges.com
7B-1404 Hunter Court
Kelowna, BC
V1X 6E6
Tel: 250 862 8722
Fax: 250 862 8771
Email: info@bridges.com
Website: www.bridges.com

For further information please contact: Norm Thompson

The Canadian Venture Exchange has neither approved nor disapproved the information contained herein.
 
Print print  close window Close