Internet Venture Group Acquires B2B Exchange

iVG announced its acquisition of GeeWhiz, a B2B exchange for promotional products

HOUSTON, July 18 /PRNewswire/ -- Internet Venture Group announced today that it has finalized its acquisition of Houston, TX based a B2B exchange for innovative fiber optic illuminated promotional products, in a stock exchange transaction. The acquisition was structured as a merger of interests, whereby the shares of Geewhiz were exchanged for shares of iVG.

Geewhiz provides a line of unique custom logo fiber optic illuminated products for the $12 billion promotional products industry. Current accounts include companies such as Continental Airlines, Red Hat Software, Lucent, numerous university and college campuses, and several well-known consumer brands. Geewhiz will operate as a wholly owned subsidiary of iVG. This B2B Promotional Products Exchange will utilize the e-commerce engine provided by iVG partner, Domain Objects, Inc., a software developer with proprietary e-business tools. This Exchange will quickly deploy Geewhiz's products and technologies across the Internet.

iVG started trading on the Nasdaq OTC: BB, July 14, 2000 as ITVI. iVG is an e-commerce development and holding company whose mission is to identify, acquire and develop early stage businesses that have the potential to become profitable market leaders. IVG's strategy is to assist its portfolio companies to leverage their core businesses by providing access to e-commerce enabling technologies, Internet management and financial guidance, business model creation and implementation, and access to equity sources. The Company will provide iVG shareholders with a one stock investment in a diversified basket of early stage click and mortar, B2B and B2C e-commerce companies while providing portfolio companies access to the publicly traded securities of iVG. iVG's business model is to create long-term value in iVG securities through the ownership and appreciation of stock in profitable e-commerce portfolio companies that are developed, operated and positioned for initial public offerings by iVG.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Statements in this press release that are not historical facts, including statements about plans and expectations regarding businesses and opportunities, demand and acceptance of new and existing businesses, capital resources, and future financial condition and results are forward-looking. Forward-looking statements involve risks and uncertainties, which may cause actual results in future periods to differ materially and adversely from those expressed. These uncertainties and risks include changing consumer preferences, lack of success of new businesses, loss of customers, competition, and other factors discussed from time to time in filings with the Securities and Exchange.

SOURCE: Internet Venture Group