Firms Link Up for E-Commerce Venture
Firms Link Up for E-Commerce Venture <CR>
By Jennifer Freer, Staff Writer
MAY 19 ? TekInsight.com Inc. and Data Systems Network Corp. have formed TekInsight e-Government Services, a joint marketing effort designed to provide e-commerce solutions to large and medium-sized municipalities, states and government agencies.
TekInsight e-Government Services will provide a range of e-government services, such as creating Web sites and installing e-government operating systems that include encryption, digital signatures, imaging, credit card payment validation and integration necessary for transactions. Once an operating system is installed, TekInsight will use software modules to provide different online services customized for the needs of the government's constituents.
TekInsight.com, an Internet development company that offers software and services based in New York, New York, announced it would acquire Data Systems, a provider of enterprise services focusing on state and local governments, Farmington Hills, Mich., in January. Terms of the acquisition, which is not yet completed, were not disclosed.
"The Internet has changed the way the world conducts business, and it was only a matter of time before governments looking to increase efficiency and deliver better service followed suit," said Kyle Tager, general manager of TekInsight e-Government Services. "States, municipalities and government agencies that have taken advantage of the Internet by offering online services to their constituents are already receiving political and economic benefits."
TekInsight May 17 completed the acquisition of bigtechnologies Inc., a Boston Internet solutions firm specializing in the development of e-government sites. Bigtechnologies' stockholders received $1.05 million in market value of TekInsight.com's common stock ? $150,000 in cash and an incentive plan which could earn an additional $650,000 in market value of TekInsight.com's common stock. The original letter of intent was signed March 30.