Search Engine Optimisation, Promotion and Internet Marketing

Edgetech purchases Web's Biggest

2 June 2005

IT consulting firm EdgeTech Services has announced that it has signed a definitive agreement to acquire the internet search engine Web's Biggest.

EdgeTech will acquire Web's Biggest using Convertible Preferred Shares and it has also established a share buyback plan to purchase up to 20 Million common shares. Under the terms of the deal, Edgetech will receive a cash injection of $250,000 from Web's Biggest and EdgeTech plans to replace three directors with two new ones. Xavier Roy and Adam Radly from Web's Biggest will join the company's management.

Web's Biggest had a net income of more than $1.5 million for the twelve months ending March 2005 and profits have risen by more than 50 per cent compared to the previous year. The company has a highly automated and scaleable IT infrastructure, which allows the company to grow rapidly without needing significant additional capital.

Web's Biggest is the world's largest 'wiki' based search engine and its Editors Choice directory is localised for 230 countries in 70 different languages. The company has licensed the entire Whois database of more than 40 million domain names.

"This is a dramatic change in our company's direction that firmly places EdgeTech in one of the hottest sectors in Information Technology. The potential value of this transaction is tremendous for our shareholders," says Tae Ho Kim, CEO of EdgeTech. "Web's Biggest's popularity worldwide, its high margin business model, high growth rate and its strong management team were factors that sealed our decision to move forward."

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