GETGO and e4 Solutions Announce Business Relationship
DENVER--Oct. 16, 2001--GETGO Inc. today announced a relationship with e4 Solutions LLC, e4 Marketing Inc. and e4 Auto Solutions LLC to acquire up to 50% equity ownership in all e4 enterprises during the next two-year period, pending execution of a definitive equity agreement and achievement of certain milestones. Revenue sharing and participation in e4 cash flows by GETGO would be based on the equity formula.In a related move, Dr. Derrin Smith, chairman/chief executive officer of GETGO, is joining the e4 Marketing Inc. board of directors, effective immediately.
Larry Drefke, CEO of e4 Marketing, stated: "The consortium of our companies will provide scalability to the e4 Business Operating System (e4-BOS), which is a true workforce, online collaboration application hosted at the QWEST Cyber Center. e4-BOS provides small-to-medium enterprises with an end-to-end business operations solution for multiple industry verticals."
The first industry application for the e4-BOS is in the $3.3 billion automotive sector. The company's software provides comprehensive dealership management tools, including finance and insurance (F&I), invoice and inventory management, and other critical dealership functions. e4 Auto Solutions has already been deployed at the 26th largest automotive dealer group in the United States, and e4 is pursuing new channel relationships with major vendors of automotive dealer services.
Smith stated: "We plan to assist e4 in their nationwide architecture and deployments for the e4-BOS, including the financial, telecommunications and health care sectors. We think that the capabilities of Preface Systems in health care, and Analytic Solutions in financial software, makes our relationship with e4 a natural extension of GETGO's business plan."
Statements in this news release that are not strictly historical are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve a high degree of risk and uncertainty that exist in the GETGO Inc.'s operations and business environment. Such statements are predictions only and actual events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include the development of the company's new and uncertain business model, uncertainty regarding acceptance of the company's products and services, and the company's limited operating history in this business segment.