XML Global Technologies, Inc. announced that it has signed a definitive agreement to sell all of its business assets to Xenos Group Inc. Xenos will acquire XML Global’s intellectual property, customer relationships, and operating assets and will retain most employees. The terms of the transaction call for Xenos to pay $1,250,000 and to issue 1,000,000 shares of common stock to XML Global in exchange for the purchased assets, including the GoXML eBusiness product line. Xenos will provide a price guarantee on the Xenos shares to XML Global such that Xenos under certain conditions may make additional cash payments to XML Global, not to exceed C$1,340,000, in the event that Xenos shares are trading below C$3.50 prior to the anniversary date of the closing. The parties hope to be able to consummate the purchase and sale by the end of December 2003. Xenos and XML Global have entered into a co-marketing agreement allowing Xenos to market and sell XML Global’s products and services pending completion of the acquisition. www.xenos.com, www.xmlglobal.com
Day: September 22, 2003
Moreover Technologies announced it has launched a real-time weblog search tool for the enterprise. The product harvests information from over 25,000 hand selected, business-critical weblogs. To overcome the issue of the variable quality of blog content the team of human editors at Moreover Technologies assigns each blog a ranking that corresponds to the reliability, integrity and caliber of the blog thus enabling users to instantly identify high value information. Additionally, each blog is tagged with a wide range of metadata including, but not limited to, the number of incoming and outgoing links to it as well as the blog’s status in the wider blogging community. The aggregated blog information is also available to users as pre-configured or customized topical ‘feeds’. Blog content will also be made available via Moreover’s ci-metabase product — a complete and constantly updated XML feed of all information harvested by Moreover — allowing a completely customized solution for the enterprise. www.moreover.com
