Optika Investment Company, Inc. to Acquire Cable Concepts, Inc. (dba Direct Digital Communications)

Apr 04, 2001, 01:00 ET from Optika Investment Company, Inc.

    GREENWOOD VILLAGE, Colo., April 4 /PRNewswire/ --
 Optika Investment Company, Inc. (OTC Bulletin Board:   OPKC) announced today
 that it has entered into a Definitive Agreement to acquire Cable Concepts,
 Inc. (dba Direct Digital Communications) of Seattle, Washington. Optika
 intends to use the acquisition of Cable Concepts as the first significant
 phase of its newly-adopted strategy to become an owner and operator of digital
 entertainment and data systems throughout the United States. As part of that
 strategy, the acquisition of Cable Concepts will provide Optika with immediate
 entry into the marketplace for providing direct broadcast satellite (DBS)
 television services to property owners, property managers and tenants in
 multiple dwelling units (MDUs) across the United States. Through its system
 operator agreement with DirecTV, Inc. (a unit of Hughes Electronics Corp.) and
 other business relationships, Cable Concepts provides DBS and other television
 services to approximately 14,000 MDU subscribers in ten states.
     Pursuant to the definitive agreement, Optika will acquire 100% of the
 outstanding shares of Cable Concepts in exchange for shares of Optika and the
 assumption of certain liabilities and obligations of Cable Concepts. Closing
 of the transaction is expected within the next thirty days and is subject to
 certain customary closing conditions. No other terms were announced.
     Jay Gordon, President of Cable Concepts, said, "We are excited about the
 opportunity to be the first acquisition by Optika. We believe that the access
 to additional capital and management resources available through Optika will
 enable us to better serve our customers and to overcome the growth constraints
 we have faced in the past. We believe there are significant opportunities for
 expansion and consolidation in the MDU market that we can best pursue as part
 of a larger organization."
 
     About Cable Concepts, Inc. (dba Direct Digital Communications)
     Direct Digital Communications ("DDC") was founded as Cable Concepts, Inc.
 in 1991 with an original focus on facilitating the management and operations
 of private cable television systems in large apartment communities. Based in
 Seattle, Washington, DDC's current principal business is providing DBS digital
 television service in selected MDU markets throughout the United States. DDC
 is a key system operator for DirecTV (a unit of Hughes Electronics Corp.)
 under DirecTV's MDU System Operator Program. In some areas, DDC provides
 private cable television services to MDUs. DDC generates revenue via a revenue
 sharing agreement with DirectTV as well as through delivery of local
 programming and related services. DDC secures the right to deliver its service
 to MDU customers through exclusive Right of Entry ("ROE") marketing agreements
 with a typical term of 10-years. DDC deploys its in-building systems using a
 fiber/coax hybrid distribution infrastructure, which offers up to 3,000 Mhz of
 bandwidth for digital entertainment, data and Internet services.
 
     About Optika Investment, Inc.
     Optika Investments, Inc. ("Optika" or the "Company") is a publicly-traded
 company positioning itself to become a provider of digital television,
 entertainment, data, Internet and broadband services. The Company will seek to
 develop a suite of popular digital services based on best-of-breed delivery
 technologies, such as direct broadcast satellite services and high speed
 wireline and wireless broadband access. Initially, the Company will seek to
 deploy access and delivery infrastructure to capture market share in
 historically underserved markets. The Company has initially targeted the
 multiple dwelling unit (MDU) market. The Company will seek to acquire or
 develop wholly-owned operating subsidiaries to pursue market opportunities
 throughout the United States. Optika Investment Company, Inc. was originally
 incorporated on November 22, 1985 as Double Ought Green Corporation in the
 State of Utah for the purpose of acquiring business entities or other
 investment activities and has had no significant operations to date.
     This news release contains forward-looking statements involving risks and
 uncertainties. These risks include but are not limited to the ability to fund
 projected DDC capital expenditures, operating losses and other working capital
 needs, fluctuations in financial results, availability and customer acceptance
 of our products and services, the impact of competitive products, services and
 pricing, general market trends and conditions, and other risks detailed in the
 Company's SEC reports. Actual results may vary materially from projected
 results.
 
 

SOURCE Optika Investment Company, Inc.
    GREENWOOD VILLAGE, Colo., April 4 /PRNewswire/ --
 Optika Investment Company, Inc. (OTC Bulletin Board:   OPKC) announced today
 that it has entered into a Definitive Agreement to acquire Cable Concepts,
 Inc. (dba Direct Digital Communications) of Seattle, Washington. Optika
 intends to use the acquisition of Cable Concepts as the first significant
 phase of its newly-adopted strategy to become an owner and operator of digital
 entertainment and data systems throughout the United States. As part of that
 strategy, the acquisition of Cable Concepts will provide Optika with immediate
 entry into the marketplace for providing direct broadcast satellite (DBS)
 television services to property owners, property managers and tenants in
 multiple dwelling units (MDUs) across the United States. Through its system
 operator agreement with DirecTV, Inc. (a unit of Hughes Electronics Corp.) and
 other business relationships, Cable Concepts provides DBS and other television
 services to approximately 14,000 MDU subscribers in ten states.
     Pursuant to the definitive agreement, Optika will acquire 100% of the
 outstanding shares of Cable Concepts in exchange for shares of Optika and the
 assumption of certain liabilities and obligations of Cable Concepts. Closing
 of the transaction is expected within the next thirty days and is subject to
 certain customary closing conditions. No other terms were announced.
     Jay Gordon, President of Cable Concepts, said, "We are excited about the
 opportunity to be the first acquisition by Optika. We believe that the access
 to additional capital and management resources available through Optika will
 enable us to better serve our customers and to overcome the growth constraints
 we have faced in the past. We believe there are significant opportunities for
 expansion and consolidation in the MDU market that we can best pursue as part
 of a larger organization."
 
     About Cable Concepts, Inc. (dba Direct Digital Communications)
     Direct Digital Communications ("DDC") was founded as Cable Concepts, Inc.
 in 1991 with an original focus on facilitating the management and operations
 of private cable television systems in large apartment communities. Based in
 Seattle, Washington, DDC's current principal business is providing DBS digital
 television service in selected MDU markets throughout the United States. DDC
 is a key system operator for DirecTV (a unit of Hughes Electronics Corp.)
 under DirecTV's MDU System Operator Program. In some areas, DDC provides
 private cable television services to MDUs. DDC generates revenue via a revenue
 sharing agreement with DirectTV as well as through delivery of local
 programming and related services. DDC secures the right to deliver its service
 to MDU customers through exclusive Right of Entry ("ROE") marketing agreements
 with a typical term of 10-years. DDC deploys its in-building systems using a
 fiber/coax hybrid distribution infrastructure, which offers up to 3,000 Mhz of
 bandwidth for digital entertainment, data and Internet services.
 
     About Optika Investment, Inc.
     Optika Investments, Inc. ("Optika" or the "Company") is a publicly-traded
 company positioning itself to become a provider of digital television,
 entertainment, data, Internet and broadband services. The Company will seek to
 develop a suite of popular digital services based on best-of-breed delivery
 technologies, such as direct broadcast satellite services and high speed
 wireline and wireless broadband access. Initially, the Company will seek to
 deploy access and delivery infrastructure to capture market share in
 historically underserved markets. The Company has initially targeted the
 multiple dwelling unit (MDU) market. The Company will seek to acquire or
 develop wholly-owned operating subsidiaries to pursue market opportunities
 throughout the United States. Optika Investment Company, Inc. was originally
 incorporated on November 22, 1985 as Double Ought Green Corporation in the
 State of Utah for the purpose of acquiring business entities or other
 investment activities and has had no significant operations to date.
     This news release contains forward-looking statements involving risks and
 uncertainties. These risks include but are not limited to the ability to fund
 projected DDC capital expenditures, operating losses and other working capital
 needs, fluctuations in financial results, availability and customer acceptance
 of our products and services, the impact of competitive products, services and
 pricing, general market trends and conditions, and other risks detailed in the
 Company's SEC reports. Actual results may vary materially from projected
 results.
 
 SOURCE  Optika Investment Company, Inc.