The Trust was established in the
Excite@Home Bankruptcy to assert claims against the company's former controlling shareholders, AT&T, Comcast and Cox.
California-based
Excite@Home has just filed for Chapter 11 protection in a US bankruptcy court, so the deal is subject to the court's approval and could be topped by higher bidders.
MatchLogic is a wholly owned subsidiary of
Excite@Home, (NASDAQ; ATHM).
Excite@Home says the investments serve to diversify the company's traditional business model, deepen its content offerings and extend its position in what it sees as areas with substantial growth opportunities.
Through his work with
Excite@Home and Upromise, George has led important consumer technology companies that have shaped markets.
The complaint alleges that defendants violated the federal securities laws by issuing analyst reports regarding
Excite@Home that recommended the purchase of
Excite@Home and which set price targets for
Excite@Home common stock which were materially false and misleading and lacked any reasonable factual basis.
Excite@Home says the transaction will allow it to focus on its core competency - providing broadband technologies and services.
Before Snapfish, Raj was an executive at
Excite@Home, where he helped grow the pioneering Internet company from fifty to 2,000 people, leading the company's e-commerce product efforts and broadband applications.
Today's announcement is not expected to have an impact on the pending Asset Purchase Agreement between
Excite@Home and AT&T.
The final
Excite@Home Webcast auction will take place on October 23, 2002 and October 24, 2002 beginning at 9:00 a.
The alliance further enables broadband expert
Excite@Home to focus on its core competency -- providing broadband technologies and services -- and establishes Optus as the customer that benefits from these state-of-the-art offerings.
Prior to joining Sigma, Nicholas was most recently Senior Director, Software Products, for
Excite@Home International in Redwood City, California.