SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: October 30, 1998
ATI NETWORKS, INC.
(Exact Name of Registrant as Specified in its Charter)
COLORADO
(State or Other Jurisdiction of Incorporation)
033-22832-D 84-1089801
(Commission File Number) (I.R.S. Employer Identification Number)
460 Cedar Street 54935
Fond du Lac, WI
(Address of Principal Executive Offices) (Zip Code)
(920) 922-7030
(920) 922-7011 FAX
(Registrant's Telephone Number, Including Area Code)
<PAGE>
INFORMATION INCLUDED IN THIS REPORT
ITEMS 1 THROUGH 4, 6 THROUGH 9 NOT APPLICABLE.
ITEM 5. OTHER EVENTS.
(i)Reference is made to the press release issued to the public by the
Registrant on October 30, 1998, the text of which is attached hereto as
Exhibit 99.1, for a description of the events reported pursuant to this Form
8-K.
<PAGE>
INDEX TO EXHIBITS
Exhibit Description
99.1 Text of press release dated October 30, 1998
<PAGE>
Exhibit 99.1
ATI NETWORKS, INC.
460 Cedar Street, Fond du Lac, Wisconsin 54935
Phone: 920-922-7030, Fax: 920-922-7011
E-Mail [email protected] Internet: http://www.atinetworks.com
NEWS RELEASE
FOR IMMEDIATE RELEASE
ATI NETWORKS INC. TO ACQUIRE POSITION INC.
______________________________________________________________________
FOR MORE INFORMATION CONTACT:
Mark Kabbash: 212-551-7874
Fond du Lac, WI, October 29, 1998 - ATI Networks Inc. (OTC: ATIW) today
announced it has signed a definitive agreement to acquire Position, Inc., a
leading provider of GPS tracking technology. Position Inc., based in Calgary,
Canada, with sales offices in key agriculture states, develops and markets
electronic guidance products to the agriculture industry. These products
provide positioning and navigation information, integrating GPS, data
communications, and GIS technologies with the company's proprietary software
and hardware.
"The acquisition of Position Inc. will increase our market share in the
positioning and tracking industry by expanding our customer base into the
agricultural business. ATI's GPS tracking and satellite communications
products appeal largely to the commercial transportation business. The
agricultural industry represents another large sector of customers using high
technology to increase profits and efficiency. By combining the strengths of
these two innovative companies, ATI is poised for tremendous future growth,"
said Larry Bestor, President of ATI.
Position Inc. developed and markets both the Marker guidance product and the
Contour guidance system to the agriculture market. These products combine
virtual reality and data management software with sophisticated GPS technology
to provide real-time, accurate, and easy-to-use electronic guidance. The
products are marketed through a distribution network that reaches and services
more than three-quarters of the North American market.
ATI Networks, Inc. is a publicly traded Internet software and communications
company that is the leading provider of wireless communications and tracking
software. The company licenses its technology to customers through a
multi-channel distribution system of authorized resellers, systems
integrators, and its own direct sales group. Additional product and investor
information is also available on the company's website at
http://www.atinetworks.com.
- -- end --
<PAGE>
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.
ATI NETWORKS, INC.
/s/ Larry Bestor
DATE: October 30, 1998 By:LAWRENCE BESTOR
Name:Larry Bestor
Title:Chief Executive Officer
