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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
December 13, 1999
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Date of Report (Date of earliest event reported)
TERAGLOBAL COMMUNICATIONS CORP.
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(Exact name of registrant as specified in its charter)
DELAWARE 0-25115 33-0827963
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(State or other jurisdiction of (Commission (IRS Employer
incorporation) File Number) Identification No.)
9171 Towne Centre Drive, 6th Floor
San Diego, California 92122
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(Address of principal executive offices)
(858) 404-5500
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(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
Mr. Lawrence Lacerte has joined the board of directors of TeraGlobal
Communications Corp. Details are set forth in the press release attached to
this report and incorporated herein by reference.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TERAGLOBAL COMMUNICATIONS CORP.
Dated: December 13, 1999 By: /s/ DAVID FANN
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David Fann
Chief Executive Officer
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INDEX TO EXHIBITS
Exhibit 99.1 TeraGlobal Communications Corp. Press Release dated
December 13, 1999
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Exhibit 99.1
[LETTERHEAD]
For Immediate Release
TERAGLOBAL COMMUNICATIONS NAMES LAWRENCE LACERTE AS A DIRECTOR
San Diego, California (December 13, 1999) -- TeraGlobal Communications Corp.
(OTC-BB:TGCC), the first company with a true convergence solution for voice,
video and data, has named Lawrence Lacerte as a Director of the Company.
Mr. Lacerte, 47, founded Lacerte Software Corporation in 1979 to provide
software for professional tax preparers. Under his leadership, that company grew
to become the industry leader with more than 35,000 CPA firms using its
products. In May 1998, Intuit Corporation acquired Lacerte Software in a
transaction valued at $400 million. Following the sale, Mr. Lacerte founded
Lacerte Technologies, a company specializing in technology and Internet-related
ventures.
"I am excited to be a part of this organization," said Larry Lacerte.
"TeraGlobal's communication technology can revolutionize the way the world
conducts business, educates its children, and entertains its people. I think
this company has a very bright future. I am looking forward to playing a more
direct role in its management."
"We are thrilled to have Larry join us," said David Fann, CEO and Chairman
of the Board of TeraGlobal. "We are continually evaluating candidates whose
business experience and judgement will add value to our Board and our
shareholders. Larry has proven that he can execute in a rapid growth
environment. In building Lacerte Software, he faced many of the implementation
and operation challenges that we will have to address as we ramp up our
TeraMedia(TM) service rollout."
Mr. Lacerte also serves on the boards of directors of various technology
companies, including Citadel Technology, Inc., How2.com, Inc., Worldpoint
Interactive, Inc., and Fandom.com, Inc. Mr. Lacerte is actively involved in the
community, serving on the boards of the SMU Cox School of Business, the Hockaday
School, St. Mark's School of Texas, the Juvenile Diabetes Foundation and the
Crystal Ball Advisory Board.
(-More-)
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LACERTE NAMED TERAGLOBAL DIRECTOR Page Two
December 13, 1999
Mr. Lacerte is TeraGlobal's third outside director, joining Mr. Jack Cecil
and Mr. William McCoy. Mr. Cecil is the President of Biltmore Farms Inc., a real
estate development company, and serves on the Boards of First Union National
Bank of North Carolina, Mission-St. Joseph's Health Systems, Inc., and The
Association of Governing Boards of Universities and Colleges. Mr. McCoy is the
acting Chancellor of the University of North Carolina and a member of the Board
of Trustees of Fidelity Investments, the largest mutual fund company in the
world. From 1984 to 1994, Mr. McCoy served as Vice Chairman of the Board of
BellSouth Corporation and from 1986 to 1994, he served as President and Chief
Executive Officer of BellSouth Enterprises.
- -- TeraGlobal Communications Corp.'s new TeraMedia Service allows customers to
share media-rich (voice/video/data) communication and collaboration across a
secure, dedicated all-ATM network. The service integrates the hardware,
software, network, and advanced compression technology necessary to deliver
real-time, point-to-point and point-to-multipoint, interactive communication and
collaboration solutions -- saving customers time and money while enhancing
workflow efficiency and personal productivity. It has been described as
revolutionary in its ability to transform the organizational communications
landscape.
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Contacts: TeraGlobal Sales Organization TeraGlobal Corporate Relations
[email protected] Susan Wilson (media)
-------------------- Darren Seed (investors)
(858) 404-5500 [email protected]
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www.teraglobal.com (858) 404-5500
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