Exhibit 20.2
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NEWS RELEASE
CONTACT:
Media Relations Investor Relations
Courtney Darby/Melissa Fox Joseph Jaffoni
Middleberg + Associates Jaffoni & Collins Incorporated
(212) 699-2545/2552 (212) 835-8500
courtney@middleberg.com mltx@jcir.com
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melissa@middleberg.com
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Multex.com Completes Acquisition of Market Guide Creating Internet's Leading
Investment Research Network
NEW YORK, September 24, 1999 -- Multex.com, Inc. (Nasdaq: MLTX) announced
today that it has completed the previously announced acquisition of Market
Guide Inc. (Nasdaq: MARG). The acquisition creates one of the Web's
leading investment research networks, serving hundreds of brokerage firms,
Internet portals and financial Web sites, and millions of investors
worldwide.
Multex.com is a leading provider of investment research and analyst
reports, while Market Guide is a leading source of fundamental research
data on public companies. Multex.com will derive financial and
competitive advantages from the acquisition as it leverages the companies'
respective data gathering, sales and distribution resources and
capabilities, creating enhanced revenue and cash flow, operating
efficiencies, cross marketing opportunities, technology advantages and
enhanced product offerings for Multex.com's and Market Guide's broad
client base.
The companies expect to quickly integrate the management, staff and
operations of Market Guide into Multex.com and Market Guide's proprietary
financial databases into Multex.com's business-to-business services,
including MultexNET and Multex Research-on-Demand, as well as its
business-to-consumer services, MultexEXPRESS and The Multex Investor
Network.
About Multex.com
Multex.com (http://www.multex.com) is a leading provider of online
investment research and information services designed to meet the needs of
individual and institutional investors, including investment banks,
brokerage firms and corporations. Multex.com's services enable timely
online access to over 1.5 million research reports and other investment
information on over 26,000 companies published by more than 550 investment
banks, brokerage firms and third-party research providers worldwide. More
than 1,500,000 individual investors, institutional investors and financial
professionals, including mutual fund managers, portfolio managers, brokers
and their clients have
access to Multex.com's services. The Multex Investor Network
(http://www.multexinvestor.com) is an Internet service targeting the
rapidly growing online individual investor market.
The company's Market Guide subsidiary, the benchmark for quality financial
information, is the leader in providing the broadest coverage of
professional grade financial data over the Internet. Market Guide
supplies more professional Web sites with quality investment data than any
other database and software company. Market Guide specializes in the
compilation, integration, display and delivery of a superior quality
database of descriptive and analytic information on over 12,000 publicly
traded domestic and foreign corporations. Well known to professional
investors for 16 years, Market Guide distributes its services through more
than 100 online vendors and independent finance oriented web sites
including, ADP, AltaVista, America Online, Ameritrade Holding Corp.,
Bridge Information Systems, Briefing.com, CNNfn, Charles Schwab & Co.,
DBC, FactSet Research Systems, Individual Investor Group, National
Discount Brokers Group, One Source, PC Quote, Pointcast, Quote.com,
Reuters, Telemet America, The Motley Fool, TheStreet.com, Track Data, Wall
Street Journal Interactive, Wall Street Source, Waterhouse Securities and
Yahoo!, as well as through its own Web site - The Market Guide Investment
Center (http://www.marketguide.com).
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Forward-looking statements in this release are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
You are cautioned that such forward-looking statements involve significant
risks and uncertainties. Actual results may differ materially from those
in the forward-looking statements due to a number of factors, including
and without limitation: (i) risks involved in assimilating Market Guide,
risks involved in integrating, retaining and motivating key Market Guide
personnel, risks related to integrating and managing geographically-
dispersed operations, risks related to integrating the technologies and
infrastructures of the companies, and risks related to the acceptance by
Market Guide's customers of the acquisition; (ii) risks inherent in Market
Guide's business, such as its dependence on maintaining relationships with
key customers; (iii) the risk that Market Guide's customers and
distribution partners will not utilize any additional services of the
combined company; (iv) risks relating to the achievement by Multex.com of
new revenues from Market Guide's operations; and (v) risks relating to
Multex.com's ongoing operations as detailed in Multex.com's filings from
time to time with the Securities and Exchange Commission. Multex.com does
not assume any obligation to update the forward-looking information
contained in this press release.