TMM Completes Acquisition of AMCI
October 9, 1997
CAMARILLO, Calif., Oct. 9 /PRNewswire/ -- TMM (Nasdaq:TMMI) is proud to announce the finalization of the purchase of AMCI. Thursday October 9, 1997 TMM and AMCI have finalized the purchase of AMCI, its assets and engineering power. AMCI brings the original personnel and vision which founded TMM, back into the fold. In addition, AMCI brings its highly acclaimed TRUDEF line of still and video graphic product to TMM.
TRUDEF is a hi-quality graphic compression product that has been acclaimed by many Internet and magazine review articles as the best lossless compression product to hit the Market in years. TRUDEF fills a huge gap in the market for Internet users wishing to store and send graphics at a fraction of their original size without loss of quality. TRUDEF has beep accepted as a preferred plugin for both Netscape and Microsoft Internet browsers. TMM sees the coming TRUDEF video product as a major component in their DVD compression and gaming business.
TRUDEF will be marketed and represented by SMG Software Solutions. SMG is a manufacturer representative and marketing representative based in San Diego. It is estimated that TRUDEF will sell 50,000 units in its initial Internet, wholesale and retail offerings, with TMM receiving $20 per unit.
AMCI brings a million dollar infrastructure of office and computer equipment along with its award winning engineering group that has been responsible for many top selling CD/ROMs and software products including ``SoftVideo,'' the first Fractal based software only video package for consumer use. Tom Simpson, President of AMCI (Tom was the original founder of TMM and lead the engineering efforts that moved TMM to a 140,000,000 dollar market cap and put Fractal and software video on the map), said that he is extremely happy and looking forward to helping bring TMM back to the power it was. With the addition of DVD production and state of the art engineering we look forward to moving TMM to the top of the software post production business. Mr. Simpson will take the position of Chief Operations Officer and member of the board of directors.
Mike Fernandez, President of TMM, said "AMCI is the piece that we at TMM have been missing to move the company back into production. With all the work I have been doing to pave the way to resurrect TMM, the AMCI acquisition could not have happened at a better time. We have some great publishing deals in the works and we look for great things ending this year and starting next."
TMM will be the surviving entity, AMCI and the AMCI Production Group will now be known as TMM and the TMM Production Group.
TMM is publicly traded on the electronic Bulletin Board (Nasdaq) using the symbol TMMI. TMM is a multimedia company dedicated to bringing high quality to multimedia presentations.
SOURCE Total Multimedia
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