SHOCKWAVE.COM AND ATOMFILMS ANNOUNCE MERGER

ATOMFilms and shockwave.com have announced that they have signed a merger agreement to create the world’s leading next generation entertainment company.
The new enterprise will be the premier global entertainment company delivering new forms of content to on-line and off-line consumers and businesses worldwide.
Under the terms of a definitive merger agreement unanimously approved by each company’s board of directors, shockwave.com will acquire AtomFilms in a stock-for-stock deal. After the closing, shareholders of AtomFilms will own 30 per cent of the consolidated company.
Rob Burgess, Chairman of the new company, said: “AtomFilms and shockwave.com were both created to pioneer new forms of consumer entertainment and to develop new business models for content creators. By joining the energies and talents of these two highly creative companies, we have the potential to change the way people are entertained around the world.”
The merger will combine both company’s assets, resulting in an enterprise that will have unrival advantages in the internet and wireless entertainment space.
The deal is expected to be finally close within the first quarter of 2001.
The companies are awaiting Hart-Scott-Rodino approval prior to closing the deal.
(CD)