ATLANTA, March 4 /PRNewswire-FirstCall/ -- HSW International, Inc. , a developer and operator of Internet businesses focused on providing consumers in the world's emerging digital economies with locally relevant, high-quality information, today announced that it had closed two separate previously announced transactions for $16.56 million in additional equity financing and the spin-off of its non-core businesses transferred with $2.66 million in cash.
As previously disclosed, the two businesses sold in the spin off, which HSW International previously determined were not strategic to the development of its Internet business, were providers of wireless telephone training and educational software. With the close of this transaction, all of HSW International's assets are in its core Internet business.
Further detail on these two transactions can be found in the Form 8-K that HSW International plans to file today with the SEC, and also on the "Financial Information - SEC Filings Archive" section of HSW International's website at http://www.hswinternational.com/sec.cfm.
About HSW International, Inc.
HSW International, Inc. develops and operates Internet businesses focused on providing consumers in the world's emerging digital economies with locally relevant, high quality information. HSW International is headquartered in Atlanta and incorporated in Delaware. HSW International is the exclusive licensee for the translation and publication of certain content from HowStuffWorks, Inc. in China and Brazil.
Forward-Looking Statements
This press release contains "forward-looking statements," as defined in Section 27A of the Securities Act of 1993, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be in the future tense, and often include words such as "anticipate", "expect", "project", "believe", "plan", "estimate", "intend", "should", and "may". These statements are based on current expectations, but are subject to certain risks and uncertainties, many of which are difficult to predict and are beyond the control of HSW International. Relevant risks and uncertainties include those referenced in HSW International's Form 8-K filled with the SEC today, and include but are not limited to: challenges inherent in developing an online business in China and Brazil, including obtaining regulatory approvals and adjusting to changing political and economic policies; governmental laws and regulations, including unclear and changing laws and regulations related to the Internet sector in China; general industry conditions and competition; general economic conditions, such as interest rate and currency exchange rate fluctuations; economic and industry conditions specific to China and Brazil, such as the state of the telecommunications and Internet infrastructure in China and Brazil and uncertainty regarding protection of intellectual property in China and Brazil; and restrictions on certain intellectual property under agreements with third parties. These risks and uncertainties could cause actual results to differ materially from those expressed in or implied by the forward-looking statements, and therefore should be carefully considered. HSW International assumes no obligation to update any forward-looking statements as a result of new information or future events or developments.
