EQI EQ Grp

RNS Number:5416S
e-quisitor PLC
16 October 2000



                     E-QUISITOR PLC PROPOSED ACQUISITION
                        OF US BASED TV Interactive



e-quisitor plc, the AIM listed company established by Gartland Whalley and
Barker ("GWB") to acquire controlling interests in profitable 
"information-oriented" businesses, today announces that it has conditionally
agreed to acquire the entire issued share capital of TV Innovations Inc
trading as TV Interactive and GETV, Inc (together "TVI").



e-quisitor also announces that it intends to raise #1.9million (before
expenses) through a Placing and Open Offer to provide the Company with
additional capital required, in part, to fund the acquisition of TVI.



TVI, which is based in Boca Raton, Florida, USA was founded in 1995 and is a
cross media production company, specialising in the promotion of its clients
through the creation of high quality programming for a range of media.  TVI
enables its clients to gain national and international exposure across a wide
variety of media including the internet (using video streaming technology),
television, traditional print media and video news releases via satellite.
TVI's blue chip client list includes: Microsoft, Citibank, Forbes, Compaq,
United States Internal Revenue Service and AT&T amongst others.  The company
has also developed key strategic partnerships with Microsoft and Yahoo!
Broadcast and with its experience of video streaming is well-positioned to
leverage the adoption of broadband technologies as and when they become widely
available.



e-quisitor's Directors believe that the acquisition of TVI will be highly
beneficial to both parties.  From e-quisitor's perspective TVI possesses all
of the characteristics that form the basis of its acquisition strategy, namely
"information-oriented" businesses which leverage the distribution potential of
the internet, a history of growth, coupled with a strong management team and
significant opportunities for future growth.


Highlights



*         The consideration payable for TVI comprises:

  *         $10million payable in cash on completion on the basis that TVI is
            debt free and cash free at that time

  *         deferred and additional consideration dependent upon the level of
            future profits achieved by TVI

*         The acquisition will be earnings enhancing

*         TVI is a profitable, cash generative and well managed business
          satisfying e-quisitor's stated acquisition criteria

*         A number of growth opportunities exist for TVI including:

  *         diversification of programming content into other topical sectors
            such as women's issues or parenting

  *         expansion of the Video News Release service as a standalone
            operation (branded as TVI News)

  *         the possibility of delivering content via the mobile internet and
            more specifically third generation telephony as a result of TVI's   
            continuing quest for broad media coverage

  *         European expansion to further broaden TVI's media coverage for
            clients requiring a global brand presence


Commenting on the acquisition, Chief Executive of e-quisitor, Bob Bond said: 
"As we move into the new millennium it is clear that individuals, companies and
governments all require access to more accurate and timely information to
enable them to make better decisions, whether personal, corporate or
legislative.  At the same time, more and more data is being captured through
the internet, call centres and computerised systems.



"At e-quisitor we believe that these factors, coupled with the ever increasing
number of channels through which information can be "transmitted", such as
television, satellite, the internet, print and the telephone, are the
fundamental drivers of the "information economy" that we are now entering.  We
believe that the powerhouses of this sector will be businesses that understand
how to capture, manage, analyse, produce or distribute information for the
benefit of their customers and for profit.



"TVI fulfils the Company's stated acquisition criteria in that it is clearly
an information oriented business, leveraging the distribution potential of the
internet, which understands how to create and distribute high quality content
across a broad range of media.  It has established itself as a sustainable
business with blue chip clients that offers both stability and significant
opportunities for future growth."



Set out below is a summary of TVI's recent trading performance.


                              Year ended         Year ended            6 months
                               31 Dec 98          31 Dec 99               ended
                                                                     30 June 00
                                   $'000              $'000               $'000

Turnover                           4,643              6,140               4,802


Gross margin                       1,900              3,088               2,404


Operating profit                     322                559                 705





The acquisition constitutes a reverse takeover under the AIM rules and
accordingly the company has requested that trading in its shares be suspended
pending the publication of an explanatory circular, following which it is
expected that dealings will re-commence.



For further information

e-quisitor plc

Bob Bond, Chief Executive

Tel: 01422 301 917



Millham Communications Ltd

Keeley Middleton

Tel: 0113 242 1171

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