Exhibit 99.2
News Release
July 10, 2000 Symbols: WIZ - CDNX
WIZZF - OTC BB
WSI INTERACTIVE ACQUIRES CONTROLLING INTEREST IN SEARCH ENGINE CONTENT
AGGREGATOR IANETT.COM INTERNET TECHNOLOGIES LTD.
WSi Interactive Corporation is pleased to announce the acquisition of an initial
50.1% of iaNett.com Internet Technologies Ltd., a developer of "extreme
performance" Internet business-to-business products, focusing on the development
and marketing of scalable Internet searching solutions for mid range web sites.
iaNett.com Internet Technologies Ltd (www.ianett.com) is a developer of Internet
business to business solutions. The focus of the company is twofold, to develop
and market scalable Internet search engine technology and turnkey e-commerce
solutions.
iaNett.com develops and markets scalable Internet searching technology,
empowering websites to fully integrate Internet search engine content to promote
visitor retention and site appeal. The unique search engine technology is based
on a progressive parallel-computing infrastructure, capable of scaling to search
over one billion documents in less than one second.
"We are extremely pleased to have aligned our company with WSi Interactive
Corporation, a Canadian leader in Internet incubation. Over the next quarter we
plan to make tremendous progress asserting our position in the highly profitable
data
mining and data marketing industry.", says Shone Anstey, President, iaNett.com.
Search engines are the core of the Internet and dominated by a few key players
such as Inktomi (Nasdaq:INKT), Altavista, and Google which now powers Yahoo
(Nasdaq:YHOO). Upstart iaNett is heading in this direction and it's proprietary
algorithmic-based system, efficiently operates on a "massively parallel
computing platform". The resulting search technology is capable of scaling, to
search over one billion documents in less than one second, a concept once
considered impossible.
In the face of the exponential expansion of the Internet in the past few years,
many search engines are now being forced to seek different technological answers
to the crushing loads on their servers. By creating open cluster systems, iaNett
expansion can parallel the growth patterns of the Internet and iaNett's clients.
With simple scalability incorporated into the core of this search engine's
technology, theoretically unlimited load requirements can be handled by this
system.
The marketing focus for this technology permits other websites to use this
technology to incorporate a complete Internet search engine solution directly
within their site. This approach to marketing search engine content allows a
near-unlimited number of websites to incorporate this technology to help retain
visitors and generate repeat site traffic.
Unlike other search engine solutions that direct traffic away from a site, this
initiative works to integrate a dedicated Internet search engine into a client's
website to promote site stickiness and encourage visitors to return to the site.
iaNett also, develops and markets e-commerce products for business-to-business
and business-to-consumer commerce applications. Currently, iaNett holds
agreements with Applied Technologies Ltd for developing and incorporating the
SBT software into completely integrated e-commerce solutions. SBT is a open
source database accounting system with over 500,000 business users worldwide,
which can enable a company to integrate a comprehensive accounting product -
including inventory tracking and control, invoicing, general ledger, accounts
receivable/payable, sales orders, purchase orders, multi-currency, job costing
and custom reports - into their existing corporate architecture.
One of the most advantageous features of the SBT accounting package is the
ability to incorporate custom modules and features into an established
commercial product, permitting the software to be tailored to each specific
client. iaNett will work with ATP to sell the SBT accounting packages across
Canada as well as to develop and market an internet interface module for the SBT
accounting system, enabling users of the SBT software to make the jump to a
simple yet completely integrated e-commerce shopping solution.
iaNett was brought into the incubation facility, to deliver proof of concept.
That now being complete, both companies, will focus their complementary
expertise to establish this superior and timely technology in the market place.
"Over the duration of the proof of concept period, iaNett, enhanced its search
engine software and hardware, exceeding capability expectations and successfully
met our target of being fully functional. As a result the sales process is now
beginning.", says WSi's marketing manager Craig Hartman.
"We are excited about the possibilities this technology brings to WSi", says
Theo Sanidas, president of WSi, "iaNett's services enhances the WSi network of
businesses, and further adds to our proprietary technology investments."
THE BUSINESS OF WSI
WSi Interactive Corporation is an innovative business development and marketing
firm whose objective is to capitalize on content and infrastructure
opportunities on the Internet. WSi builds, manages and markets online businesses
in the financial, e-tail and e-commerce, entertainment, and e-advertising
sectors.
WSi focuses on early-stage companies where it can add significant value to the
investment through a network of relationships and strategic alliances, using its
experience to help Internet companies to build traffic, develop brands, and
capitalize on a variety of revenue streams.
To receive information on WSi by e-mail or fax, please forward your Internet
address/fax # to
[email protected]/fax: 1-877-499-5806.
Investor Relations Toll Free: 1-888-388-4636
Website: www.ws-i.com
ON BEHALF OF THE COMPANY
"Theo Sanidas"
Theo Sanidas, President
This news release may contain forward-looking statements that involve risks and
uncertainties, including the impact of competitive products and pricing and
general economic conditions as they affect the Company's clients. Actual results
and developments may therefore differ materially from those described in this
release. No regulatory authority has reviewed nor accepted any responsibility
for the adequacy or accuracy of the contents of this release.
