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LinuxPR: EBIZ Enterprises Gets $3 Million Equity Investment from Caldera Systems

Sep 19, 2000, 19:52 (0 Talkback[s])

"EBIZ Enterprises Inc. (OTCBB:EBIZ - news), a leading vendor-neutral source for Linux sollutions, technical support and community services for the B2B market, today announced that Caldera Systems Inc. (Nasdaq:CALD), will purchase $3 million of EBIZ common stock in a private transaction. The proceeds of this transaction will be used to create and fund PartnerAxis Inc., an EBIZ wholly owned subsidiary."

"Under the terms of the agreement, Utah-based Caldera Systems, a leading provider of Linux eBusiness Internet Solutions, has agreed with EBIZ to develop PartnerAxis, a Web-based B2B entity providing knowledge exchange, Linux product sales, advertising, membership and channel development. The new company, an existing division of Caldera called ELM (Electronic Linux Marketplace), will transfer all related assets and existing personnel to PartnerAxis."

"Effective today, the subsidiary is operational and will begin offering services immediately and Web properties by the end of 2000. Former Caldera Vice President Dean Taylor, will lead and manage PartnerAxis as its executive vice president. Jeffrey Rassas, EBIZ CEO and founder, will serve as president of the new subsidiary."

Press Release