CESAREA, Israel, Feb. 15, 2005 (PRIMEZONE) -- InterAge Ltd. (Pink Sheets:ITGJ), a leading provider of integrated web marketing solutions, announced today that it acquired a 51% interest in Jerusalem-Sky, a leading provider of spa management systems.
In a strategic move to gain a strong foothold in a large and growing market, InterAge plans to create new applications to be distributed by Jerusalem-Sky that will create significant value in the market. Jerusalem-Sky has succeeded in formulating one of the leading computerized solutions in the world, which integrates order management, purchasing, sales, accounting, personnel/therapist management and the management of a wide range of marketing issues.
While Jerusalem-Sky provides one of the most advanced and comprehensive spa management systems on the market, InterAge plans to put it in a league of its own by developing a web-based system for distance management of Jerusalem-Sky's off-the-shelf spa programs. This will enable management companies owning chains of spas to monitor their operations in various locations from their headquarter offices.
With the closing of this acquisition agreement, the new partnership already signed its first deal with Thai Soft Industries, a software distributor based in Thailand.
"Our new alliance with Jerusalem-Sky opens up a huge and potentially lucrative new channel for InterAge," notes InterAge CEO, Kobi Freund. "This is our first opportunity where we create value for our customer, in this case Jerusalem-Sky, and keep a large percentage of that value by owning a portion of the company. We see a lot of growth opportunities with our new partners and we hope to leverage this experience to apply to other vertical markets."
About InterAge
InterAge Ltd., established in 1994, specializes in providing a comprehensive business and marketing approach to web marketing. The company operates under the trade name of ID-Knowledge and offers unique marketing design, development, and advanced web marketing technology to give clients an integrated web marketing solution. These solutions include, formulating marketing concept and strategy, market research, managing email marketing, search engine optimization, and web design.
For more information, please contact kobi@id-knowledge.com or visit us on the Web at http://www.id-knowledge.com
Forward-Looking Statements
Certain statements in this news release may contain "forward-looking" information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward-looking statements that may involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.