The final stage of the merger of Networks North Inc. and Chell.com Ltd. is complete, with the NASDAQ symbol for the newly formed Chell Corporation, operating as the Chell Merchant Capital Group, changing to CHEL
“Our goal is for the NASDAQ symbol CHEL to become synonymous with success in the marketplace,” said Cameron Chell, president and CEO of the Chell Merchant Capital Group. “The way we will achieve this is by making money for stockholders through setting technology trends as demonstrated through our development and leadership of the ASP industry.”
Chell is widely considered to be a major player in the ASP industry. He was the founder and CEO of pioneer ASP FutureLink Distribution Corp.
, from 1996-1999; founder and current global vice chairman of the ASP Industry Consortium a 650-member organization focused on the industry; and co-founder of JAWS Technologies.
The Chell Merchant Capital Group says it is in the business of defining, building and re-engineering businesses using new economy technologies to maximize market value. The team is made up of international professionals in the areas of technology, finance, investor relations, public relations, marketing and human resources.
The Chell Merchant Capital Group will follow a three-fold investment strategy involving incubating companies to fill perceived gaps in the market, merging or acquiring existing companies that fit into their vision of the future of the industry, and investing in research and development for the “next big thing,” Chell explained in a press conference last week.
“All the big IPOs in the ASP trend have already happened,” Chell said. The company will now focus on mergers and acquisitions within the ASP industry for 12 to 18 months while quietly incubating companies. “We know what the next big thing is, and in the next year to a year and a half, there will be some big IPOs in that area,” Chell said.
Chell bases his assertions on past technology trends, beginning with the HTML browser, to ISPs, then e-commerce and now ASPs. “Each trend builds upon the other, and the number of users grows with each trend,” he said.
Chell said the difference between his company and the CMGIs and Softbanks of the world is that those companies are committed to long-term investments, while a merchant capital group has the flexibility to move quickly. “We’re in early, we create opportunities and we’re not afraid to sell,” he said. “Our focus is on the exit strategy.”
The current portfolio of companies includes: Engyro, cDemo, eSupplies, NTN Interactive Network Inc., Magic Lantern Communications Ltd., GalaVu Entertainment Network Inc and Interlynx Multimedia Inc.
Networks North had been listed on the NASDAQ under the symbol NETN
. Networks North finalized the acquisition of the assets of Chell.com Ltd. on September 19, 2000. The details of the transaction were contained in Proxy Materials filed with the Securities and Exchange Commission (SEC) on August 8, 2000 and were approved by the company’s stockholders on September 8, 2000. As part of the closing arrangements, the transfer of 150,000 shares of cMeRun Corp.
are to remain in escrow pending the satisfaction of certain conditions including the filing of required periodic quarterly filings with the Securities and Exchange Commission.