EXHIBIT 20.1
Multex.com Acquires Sage Online, Expanding Its
Position as Internet's Leading Financial
e-Marketplace
Sage Adds Live Events, Community and Mutual Fund
Expertise to Multex.com's Offerings for Brokerage
Firms, Investment Banks, Corporations and
Institutional and Individual Investors
New Agreement with America Online Expands Sage's
Presence on AOL; Sage Also Moving Onto the Internet
New York, NY, March 14, 2000 -- Multex.com, Inc.
(NASDAQ: MLTX), the Internet's leading financial
e-Marketplace connecting buyers and sellers of
financial services and information, announced today
that it has agreed to acquire Sage Online, Inc., the
world's premier online provider of live events and
interactive community for personal finance, including
mutual fund and equity content, chat rooms, forums
and message boards. The acquisition further
strengthens Multex.com's rapidly growing financial
e-marketplace, complementing its suite of online
financial services and information connecting
brokerage firms, investment banks, corporations, and
individual and institutional investors.
The two companies also announced a multi-year
strategic alliance between Sage and America Online,
Inc. (NYSE: AOL) that deepens Sage's existing
presence on AOL's Personal Finance Channel, rated by
Media Metrix as the leading financial destination in
cyberspace. With this agreement, Sage becomes the
anchor tenant for the mutual fund community as well
as the exclusive producer of MarketTalk on the
Personal Finance Channel. At the same time, Sage will
expand its interactive community services and content
to the Internet. Sage currently ranks as the most
popular community destination on AOL's Personal
Finance Channel.
Sage Online, a privately held company, will become a
wholly owned subsidiary of Multex.com, and will
continue to operate as a separate entity under the
leadership of co-founders Alan and Stephen Cohn. Sage
also will become a key participant in Multex.com's
network of leading Web sites that serve over 3
million investors worldwide. The transaction is
expected to close this week. Financial terms were not
disclosed.
"Sage Online is the undisputed leader in providing
live events, community-based features and mutual fund
content to individual investors, and represents a
powerful addition to Multex.com's network of leading
brands and financial Web sites. This transaction
highlights the fact that Multex.com is uniquely
positioned to take advantage of the explosion in
online financial services, providing the critical
tools needed for individual investors, money
managers, financial institutions and corporations to
thrive in today's Internet-speed marketplace," said
Jim Tousignant, President of Multex.com.
"Technology is clearly the backbone of Multex.com's
three main businesses: real-time, Web-based financial
services and information in our B-to-B segment; ASP
enabling technology which connects our clients with
their customers through customized financial Web
sites; and our B-to-C business unit, financial
services and information for individual investors. By
combining Multex's technology expertise and delivery
capabilities with Sage's unique knowledge of live
events and community, the mutual fund industry and
its loyal following, this transaction will be as
powerful in practice as it is compelling in concept.
Going forward, we will continue to expand our
presence in all key markets to remain the world's
leading financial e-marketplace, bringing an
unparalleled breadth and depth of financial services,
information and resources to professional investors
and individuals alike," Mr. Tousignant continued.
"Multex.com is an exciting and pioneering company in
the online financial services and infrastructure
space, and we couldn't be more pleased that Sage is
joining the Multex family. This transaction will
provide Sage's management team and extended staff
with the sales, distribution and technology resources
to launch new products and expand our services, and
bring to Multex.com significant new strength in the
community, live event and mutual fund arenas," said
Alan Cohn, Co-President of Sage Online.
"As Multex.com continues to expand the definition of
a financial e-marketplace and develop innovative new
products and services, Sage will play a central role
in making this effort a success," said Stephen Cohn,
Co-President of Sage Online.
"Sage is one of the most successful forums on the AOL
service and we're pleased that America Online's new
multi-year alliance with Sage Online will allow us to
increase Sage's presence within our industry-leading
AOL Personal Finance Channel. We are also happy to be
expanding our existing relationship with Multex.com,
a leader in providing financial information and
infrastructure to the growing online investment
community," said Jonathan Sacks, Senior Vice
President and General Manager of AOL Interactive
Services. With the transaction, Alan and Stephen Cohn
will become members of the management board
overseeing Multex.com's network of leading Web sites
serving individual investors, which include Multex
Investor and MarketGuide.com. The Cohn brothers, Alan
and Stephen, will remain Co-Presidents of Sage
Online, which will continue to be headquartered in
Bala Cynwyd, PA.
About Multex.com, Inc.
Multex.com (www.multex.com), the world's leading
financial e-Marketplace connecting buyers and sellers
of financial services and information, is a global
company that provides information and commerce
enabling technology and infrastructure, application
services, Web hosting and online community services
to the major financial marketplace participants:
brokerage firms, investment banks, corporations, and
individual and institutional investors. The company
focuses on three core business areas:
Business-to-Business, which provides real-time,
Web-based financial information to institutional
investors and other financial institutions;
Application Service Provider (ASP), which enables its
clients to connect with customers through customized
financial Web sites; and Business-to-Consumer, which
provides financial information to individual
investors through a network of branded Web sites.
Multex.com serves this fast-growing and diverse
marketplace through a number
of industry leading brands, including: MultexNET, a
subscription/transaction based, real-time, online
service providing financial information from more
than 700 firms such as Merrill Lynch, Salomon Smith
Barney and Robertson Stephens to more than 9,000 buy-
side firms and more than 30,000 subscribers;
MultexEXPRESS, a Web-development and hosting business
with more than 70 sites serving more than 1.5 million
users; and Multex Investor and MarketGuide.com,
Multex.com's individual investor sites, which total
more than 1.5 million registered users. Additional
Multex.com information and distribution partners
include: Reuters, Bloomberg, Dow Jones, AOL, Yahoo!,
Quicken.com, CBS MarketWatch and CNNfn.com.
About Sage Online
Sage Online is the world's premier online provider of
live events and interactive community for personal
finance, including mutual fund and equity content,
chat rooms, forums and message boards. It was founded
by CO-Presidents Alan and Stephen Cohn, who were
recognized by the Wall Street Journal and SmartMoney
magazine as one of the top 10 most influential forces
in the mutual fund industry. Alan and Stephen are
authors of The Sage Guide to Mutual Funds book.
Sage, currently available exclusively on the AOL
service (Keyword: Sage and Keyword: MarketTalk),
draws more than 600,000 visitors each month. It
produces AOL Market Talk, the No. 1 financial Web
chat, and more than 12 hours of live programming each
market day. Sage's family includes 40 employees and
150 volunteer Sage Community Leaders, who provide
helpful guidance to visitors via monitored message
boards and moderated online Sage chat rooms.
# # #
This news release contains statements of a
forward-looking nature relating to the future events
or the future financial results of Multex.com.
Investors are cautioned that such statements are only
predictions and that actual events or results may
differ materially. In evaluating such statements,
investors should specifically consider the various
factors which could cause actual events or results to
differ materially from those indicated from such
forward-looking statements, including the matters set
forth in Multex.com's reports and documents filed
from time to time with the Securities and Exchange
Commission.