SportsLine Europe Acquires Infosis Sport
FORT LAUDERDALE, FL (June 29, 1999)—SportsLine USA, Inc. (NASDAQ:SPLN), the leading global Internet sports media company, announced today that SportsLine Europe Limited, its majority owned subsidiary, has acquired Infosis Group Limited's Sports Division. Infosis Sport supplies sports information and data to many of the United Kingdom and Europe's leading media companies both on- and off-line. SportsLine Europe acquired Infosis Sport in exchange for cash totalling 1.5 million pounds sterling.
SportsLine has been utilizing Infosis Sport's content for its SportsLine Worldwide site for the last year. Founded in 1993, Infosis Sport has gained a significant market share in the United Kingdom as a premier provider of real-time scores, statistics, match reports and features, gathered by a network of correspondents across the U.K. and Europe. SportsLine Europe will utilize Infosis Sport's content for its own family of Web sites, while continuing to license Infosis Sport's content to other European media. SportsLine Europe's first Web site, UK SportsLine, is scheduled to launch this summer.
"The acquisition of Infosis Sport provides ownership of the most in-depth, comprehensive and timely scores and statistics throughout the U.K. and Europe, allowing SportsLine Europe a distinct competitive advantage," said Michael Levy, president and CEO of SportsLine USA and chairman of SportsLine Europe Limited. "Infosis Sport has already established itself as a market leader with an existing client base, making it a valuable asset for SportsLine Europe."
"Acquiring Infosis Sport, the leader in real-time scoring, significantly accelerates the development of SportsLine Europe," said Tom Jessiman, managing director of SportsLine Europe Limited. "Infosis Sport provides us superior content around which we can develop significant commerce and community opportunities."
About Infosis Group Limited
About SportsLine USA, Inc.
Note: This press release may contain forward-looking statements, which involve risks and uncertainties. SportsLine USA's actual results could differ materially from those anticipated in these forward-looking statements. Factors that might cause or contribute to such differences include, among others, competitive pressures, the growth rate of the Internet, constantly changing technology, and market acceptance of the company's products and services. Investors are also directed to consider the other risks and uncertainties discussed in SportsLine USA's Securities and Exchange Commission Filings, including those discussed under the caption "Risk Factors That May Affect Future Results" in SportsLine USA's latest Annual Report on Form 10-K. SportsLine USA undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
# # #Kenneth Sanders
Chief Financial Officer
SportsLine USA, Inc.
(954) 351-2120, ext. 7900
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