Dialog Refocuses on Fast Growing Technology Divisions; Sells Information Service
The Dialog Corporation (LSE: DLG, NASDAQ:DIAL), a leading provider of Internet-based information, technology and e-commerce solutions, today announced the proposed refinancing and restructuring of the Group through the sale of its Information Services Division (ISD) to The Thomson Corporation [TSE: TOC] which will enable the repayment of all the Group\'s outstanding senior and high yield debt. Separately, Dialog reported financial results for the year ended December 31, 1999.
The overall effect of these proposals is to reposition the Group - which will be renamed Bright Station plc (http://www.brightstation.com) - to focus on its eCommerce and Web Solutions businesses, with an additional £27.9 ($44) million of new equity investment. These divisions can now be developed to their full potential. The Board is also proposing the creation of an investment business that will focus on developing promising Internet and eCommerce start-ups, leveraging the Company\'s leading edge technologies, management experience and new capital.