Re Dynamid/ ByBox Merger
Cube8.com PLC
1 February 2001
Press release 1 February 2001
Dynamid Announces Merger with ByBox
Cube8.com plc, the investment and incubation company, has been informed that
Dynamid Limited, in which it holds a stake, has entered into discussions which
may result in a merger with ByBox Limited.
Dynamid is one of the leading start-ups working towards a network of home and
office delivery boxes in the UK, and ByBox is establishing a network of
delivery locker points across the US and Europe.
The proposed merger is partially the result of a split market: consolidated
collection points and individual home boxes. A ByBox/Dynamid merger creates an
organisation that is unique in its ability to offer both solutions through one
integrated system. ByBox provides the unattended locker-banks and Dynamid the
home boxes.
Dynamid has been trialing its network of 'intelligent' delivery boxes in
locations around the South East during 2000/2001. It has also been engaged in
talks with a number of leading delivery companies and major chain stores, with
the intention of their adoption of the boxes as a preferred delivery method.
Dan Turner, Dynamid CEO, believes a merger will put them way ahead in a
crowded market: 'Most of the current players in the fulfilment arena are
start-ups. On one hand this is great because it brings a new approach to a
well-established industry. But the big challenge is to convince the
established players that your solution will work when you try to go beyond a
pilot. Convincing people to go through the effort of integrating into a new
system is far easier if an established player as opposed to an unproven
start-up provides the technology.
'We have spent the past six months developing opportunities with some of the
defining players in the industry. There is no doubt that the preferred
solution right now is locker banks. Dynamid has the commercial penetration and
ByBox has the product. Together we can help to set the standard for the
industry. Also, having exclusive access to Logibag's R&D network is fantastic.
We can leverage their market-leading locker technology straight on to our
home-box - lock, stock and barrel.'
The combined company will initially be based at the ByBox location
Oxfordshire, UK with satellite offices in France, Spain and California. It is
currently working on implementing the first two trial sites for the
lockerbanks and is in negotiation with a number of business entities regarding
the integration of the lockerbanks into their commercial environment.
ByBox's Stuart Miller and Dynamid's Dan Turner will be co-CEOs of the merged
company
Ends
Contact details and notes
Dynamid received first round funding in May last year, when Cube8 purchased a
14 percent stake in the company. It then exercised an option to take its stake
up to 18.1%.
www.dynamid.com
Cube8 is a technology, media and telecoms investment and incubation company
that provides financial and intellectual capital to accelerate start-up and
early-stage internet businesses.
The company's operations have three main areas of focus:
(i) Investment
(ii) Consultancy and Agency Services
(iii) Networking and Fundraising
The company's shares started trading on the Alternative Investment Market of
the London Stock Exchange ('AIM') on 28th February 2000.
www.cube8.com
ByBox.com is a registered US company with offices in the US, France and the
UK.
www.bybox.com
For further information, please contact:
Steve Masters
Director, Marketing and Communications
Cube8.com plc
Tel: 020 7479 2700
email: steve@cube8.com
Issued by:
Russell Elliott / Henry Harrison-Topham
Bankside Consultants Limited
Tel: 020 7220 7477
Email: russell@bankside.co.uk / henry@bankside.co.uk
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