Cameron Chell acquires significant interest in Application Station.com
Cameron Chell and Jim Pennington -- ASP Industry pioneers -- form Global ASP play
London, England - Cameron Chell, Co-Founder and Vice-Chair of the ASP Consortium, today announced at the BT-openworld conference in London, England his personal investment in leading Application Service Provider (ASP), ApplicationStation.com (ASC). As part of this announcement, ASC, which focuses on Vertical Market application delivery and customer acquisition, publicly announced its plans for European expansion and global offerings.
"Customer demand for ASP services are booming but many of the early leaders in this important industry have missed some of the basics with respect to executing on basic customer needs and the requirements needed to be put in place for the ASP EconoSystem," said Cameron Chell. "Industry analysts and the media predict anywhere from 60 to 75 percent of ASPs will fail in the short term. With this type of consolidation happening in the ASP space, we will see a significant acceleration in mergers and acquisitions as only the strongest will survive. In my opinion this investment in ASC along with the strategic developments of the Chell Merchant Capital Group will help drive customer validation and enhanced customer value by the second quarter of 2001," added Cameron Chell. "My personal investment in ASC is a strategic move towards achieving a vision of being a catalyst in helping to mature this industry. I am looking forward to partnering with Jim and his ASC team and leveraging the success and best practices of Chell and its member companies."
"With the combined experience of ASC's team and the track record Cameron Chell has on the business and financing side of the ASP Industry we have put together the most experienced and successful management team in the ASP industry bar none!" stated Jim Pennington Founder and CEO of ASC. "We bring 5 years of experience in high volume application delivery and customer service and fully operational Asia Pac and European ASP business units to Cameron's considerable operations in North America. I look forward to working with Cameron and his team to bring forth the next generation of ASP services, technologies and customer acquisition strategies"
The Chell Merchant Capital Group is negotiating working with ASC in a fees-for-service arrangement for its technical, marketing and financial expertise.
The Board of Directors of the Chell Group Corporation, operating as the Chell Merchant Capital Group, has first right of refusal to acquire Cameron Chell's interest in ASC. The Board's decision will be based on the Chell Merchant Capital Group's agreement to finance the purchase.
- About Application Station
The ApplicationStation.com (ASC) is a full service Application Service Provider. Founded in February of 2000 by E. James Pennington, Founder and Former Chief of Innovation at Learningstation.com (one of the first ASP's in North America). ASC currently has offices in Sydney, Australia; Toronto, Canada; London, England; and Corporate Headquarters in Bellingham, Washington. ASC customers include: BT, Sasktel, BDO, Jetset Travel, Australian Auto Partners. ASC also operates Joint Ventures with the Learningstation.com in Canada, Australia, New Zealand, and the UK.
- About Chell Merchant Capital Group
The Chell Merchant Capital Group is in the business of applying new economy technologies to new and existing businesses. Its goal is to build or transform the businesses to compete and dominate a market space and create wealth for shareholders. Company President and CEO, Cameron Chell founded FutureLink Distribution Corp., one of the world's first Application Service Provider's (ASP); the ASP Consortium http://www.allaboutasp.org a 600 member organisation focused on the industry; and co-founded JAWZ Technologies www.jawztech.com. The Chell Merchant Capital Group is comprised of a team of international professionals specialised in the areas of technology, finance, investor relations, public relations, marketing, and human resources. The current portfolio of companies includes: Engyro http://www.engyro.com, cDemo, eSupplies, NTN Interactive Network Inc., Magic Lantern Communications Ltd., GalaVu Entertainment Network Inc. and Interlynx Multimedia Inc. For more information on the Chell Merchant Capital Group, visit the website at http://www.chell.com.
- About Cameron Chell
Cameron Chell is considered by industry-watchers to be a business leader for the new economy. His reputation began with the launch of his first successful technology company while still a teen. Little more than a decade later, Cameron has built an enviable track record for turning the seed of an idea into multi-million dollar businesses. Since 1996, Cameron has played an integral role in building businesses that today represent a combined market capitalisation in excess of US $3 billion dollars.
With the establishment of FutureLink Distribution Corp. (Nasdaq: FTRL) considered the first true Application Service Provider (ASP) company, and his work in creating The ASP Consortium http://www.allaboutasp.org of which he is Founder and currently serves as Vice-Chair, Cameron is regarded by many as a father of the ASP Industry. One year since its inception, The ASP Consortium is a 450 corporate-member strong, global organisation.
Currently at the helm of the Chell Merchant Capital Group President and CEO, Cameron and his team of 12 professionals work to apply new economy technologies to new and existing businesses. Their goal is to build or transform businesses to compete and dominate a market space and create wealth for shareholders.
Cameron is a former Canadian Top 10 decathlete.
SOURCE Chell Merchant Capital Group
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