Urbana.ca Expands LocalNet to Toronto
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[Cambridge, CANADA] Urbana.ca, a provider of set-top boxes and geographic virtual communities, has inked a licensing agreement with Community Infonet of Toronto.
Under the deal, Urbana.ca will roll out LocalNets in the regions of York, Durham, and Metro.
Urbana.ca's custom designed set-top box is an easy-to-use, affordable Internet appliance that connects televisions to the World Wide Web. The unit allows members of a community to become connected to the Internet and LocalNet for a monthly fee.
The Localnet site is a user-friendly online portal that provides residents easy access to important community information and provides local advertisers the ability to target advertising to their geographic virtual communities.
Community Infonet is comprised of a team of professionals involved in finance, business, and education who share some common goals. It believes that real-time interaction of information made available to all will benefit communities greatly.
The LocalNet installations will begin this month in the Richmond Hill area of the region of York, and expand to other communities beginning in 2001. These new territories represent an additional 1,200,000 potential customers and over 120,000 new local businesses for the Urbana.ca service.
Urbana will receive a license fee and ongoing royalties from each community. "These territories will increase Urbana's license revenues for Localnets to over $1,800,000 over the next two years, with royalties estimated to grow to $500,000 per month by the end of 2001," said Urbana.ca president, David Groves.
A definitive agreement between Urbana.ca and Community Infonet will be completed in the next 30 days. To date, Urbana has six operating portals in Guelph, Cambridge, Grey/Bruce, Halton/Peel, and Haldiman/Norfolk regions, representing over 700,000 potential customers.