HSW International, Inc. Completes Merger With INTAC International, Inc.
HSW International, Inc. Completes Merger With INTAC International, Inc.
October 2, 2007 at 12:00 AM EDT
ATLANTA, Georgia--October 2, 2007—HSW
International, Inc. (NASDAQ: HSWI), a developer and operator of Internet
businesses focused on providing consumers in the world’s emerging
digital economies with locally relevant, high quality information, today
announced that it has completed its previously announced merger with
INTAC International, Inc. (NASDAQ: INTN).
Shares of common stock of the merged company, which is incorporated in
Delaware and headquartered in Atlanta, are expected to start trading
Wednesday, October 3, 2007 on the NASDAQ Global Market under the symbol
HSWI. Completion of the merger follows its approval by a majority of
INTAC’s shareholders on August 13, 2007.
As a result of the merger, INTAC International has become a wholly-owned
subsidiary of HSW International, and INTAC International’s stock will no
longer be quoted on NASDAQ. Under terms of the transaction, INTAC
shareholders are entitled to exchange their INTAC shares for an equal
number of shares in HSW International’s stock.
Additional details on the merger and companies involved in this
transaction are available in HSW International’s Form S-4 Registration
Statement, which can be accessed from the Securities and Exchange
Commission’s website (www.sec.gov)
or from HSW International’s website (www.hswinternational.com).
About HSW International, Inc.
HSW International, Inc. (NASDAQ: HSWI)develops and operates Internet
businesses focused on providing consumers in the world’s emerging
digital economies with locally relevant, high quality information. The
Company is headquartered in Atlanta and incorporated in Delaware. HSW
International is the exclusive licensee for the translation and
publication of certain content from HowStuffWorks, Inc. in China and
Brazil.
Forward-Looking Statements
This press release contains "forward-looking statements," as defined in
Section 27A of the Securities Act of 1993, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended. Forward-looking
statements may be in the future tense, and often include words such as
"anticipate", "expect", "project", "believe", "plan", "estimate",
"intend", "will" and "may". These statements are based on current
expectations, but are subject to certain risks and uncertainties, many
of which are difficult to predict and are beyond the control of HSW
International. Relevant risks and uncertainties include those referenced
in HSW International's filings with the SEC, including the registration
statement on Form S-4, and include but are not limited to: general
industry conditions and competition; general economic conditions, such
as interest rate and currency exchange rate fluctuations; economic and
industry conditions specific to China and Brazil, such as the state of
the telecommunications and internet infrastructure in China and Brazil
and uncertainty regarding protection of intellectual property in China
and Brazil; challenges inherent in developing an online business in
China and Brazil, including obtaining regulatory approvals and adjusting
to changing political and economic policies; governmental laws and
regulations, including unclear and changing laws and regulations related
to the internet sector in China; restrictions on certain intellectual
property under agreements with third parties. These risks and
uncertainties could cause actual results to differ materially from those
expressed in or implied by the forward-looking statements, and therefore
should be carefully considered. HSW International assumes no obligation
to update any forward-looking statements as a result of new information
or future events or developments.
For Further Information:
HSW International Investor Relations
telephone: +1 (404) 926-0660
email: ir@hswint.com
or
Brion Tingler
Gavin Anderson & Co.
telephone: +1 212 515 1941
email: btingler@gavinanderson.com