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GoAmerica Completes Acquisition of Hotpaper.com
Acquisition Enhances GoAmerica's Portfolio of Services, Enabling the Rapid
Deployment of Mission-Critical Documents to Mobile Professionals
HACKENSACK, N.J., Sept. 1 /PRNewswire/ -- GoAmerica, Inc. (Nasdaq: GOAM),
a leading nationwide wireless data and Internet services provider, announced
today the completion of its previously announced acquisition of
Hotpaper.com, Inc., an innovative Web-based infrastructure company
dedicated to the automated creation and delivery of business documents.
"We feel that Hotpaper.com's unique technology complements GoAmerica's
growing portfolio of services, aimed at offering complete wireless
business solutions," said Aaron Dobrinsky, GoAmerica's president and CEO.
"This application will offer increased productivity and efficiency for
mobile professionals, giving GoAmerica's corporate customers a competitive
advantage."
The Hotpaper.com choose-customize-deliver platform, integrated with
GoAmerica's industry-leading Go.Web(TM) technology, enables mobile
professionals to create customized Microsoft Word and Adobe PDF documents
from wireless devices and transmit them on the spot, via fax or email.
Professionals in document-intensive markets such as sales, banking, legal
and human resources will be able to create documents wirelessly, thereby
improving efficiency and shortening business cycles.
Under terms of the transaction, GoAmerica issued $9.25 million in
restricted stock and paid cash of $750,000 to the stockholders of
Hotpaper.com.
About GoAmerica
GoAmerica, Inc. is a nationwide wireless Internet service provider based
in Hackensack, N.J. GoAmerica enables its individual and business
subscribers to access remotely corporate databases and intranets, the
Internet and email by delivering its proprietary technology, Go.Web(TM)
through a wide variety of mobile computing and wireless network devices.
Through its Wireless Internet Connectivity Center, GoAmerica offers its
subscribers comprehensive and flexible mobile data solutions for wireless
Internet access by providing wireless network services, mobile devices,
and subscriber service support. For more information, call 888-462-4600 or
visit www.goamerica.net .
This news release contains certain forward-looking statements intending to
qualify for the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Investors are cautioned that such
forward-looking statements involve risks and uncertainties, which may
affect GoAmerica, Inc.'s business, prospects and results of operations.
GoAmerica, Inc.'s business is subject to a number of significant risks,
including, but not limited to, risks relating to GoAmerica, Inc.'s ability
to increase and maintain its subscriber base, uncertainties relating to
the future demand for services in the emerging wireless data services
market and GoAmerica, Inc.'s ability to successfully grow its
infrastructure, manage expanded operations and offer new services. There
are also risks relating to the proposed acquisition of Hotpaper.com
including GoAmerica's ability to integrate the acquired technology and
business with GoAmerica's current business and the potential loss of share
value to GoAmerica's existing stockholders as a result of the issuance of
GoAmerica common stock to Hotpaper.com stockholders. Such risks and others
are more fully set forth in GoAmerica's filings with the Securities and
Exchange Commission. "GoAmerica" and "Go.Web" are trademarks of GoAmerica,
Inc. Other names may be trademarks of their respective owners.
About Hotpaper.com
Hotpaper.com, Inc. is a document automation infrastructure provider based
in San Francisco, CA. Hotpaper enables its individual and business users
to dynamically create Microsoft Word and Adobe PDF documents directly from
their web browsers. Users choose from among numerous document templates,
answer some simple questions, click a button, and the system automatically
crafts a customized version. Tasks that previously required original
authorship or lots of cut-and-paste can now often be completed in a minute
or two. Hotpaper has over 130 customers in 18 countries, including over
two dozen Fortune 500 companies.
SOURCE GoAmerica, Inc
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