Nextelligence, Inc (NXEL.PK) Acquires Certain Assets from Web2 Corp (WBTO.OB)

Orlando, Florida (PressExposure) November 11, 2008 -- /1888PressRelease/ Nextelligence, Inc (NXEL.PK) announced today that its president, William Mobley, has resigned from his position at Web2 Corp (WBTO.OB) as Chairman and CEO. Several loans made to Web2 Corp from affiliates including Nextelligence, Inc., were exchanged for certain Web2 Corp assets, including intellectual properties, global websites, portals, domains, and the network hosting and operations center.

“Nextelligence is already making use of the assets that it acquired. “Since Nextelligence has shifted its business model to licensing tech, development, and management for businesses that are already established in their markets, having a wide resource pool of intellectual property and source code gives us a leg up on developers who must pay for their applications or else develop the applications themselves. We expect that our ability to keep costs down, combined with the quality of our personnel, will make Nextelligence a standout business enterprise provider in the upcoming hard times of this market.

About Nextelligence

Nextelligence operates and acquires technology companies with solid foundations that need a little more development or consultancy to thrive. Our target companies all have identifiable value propositions, established distribution channels, recognized brands, and the potential to produce a sustained marketplace impact. Since its founding in 1999, Nextelligence has developed, acquired, and sold various entities regarded as forerunners in their markets.

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About Nextelligence, Inc

Nextelligence is an interim management and buyout firm. We specialize in the acquisition & operation of technology companies.

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Press Release Submitted On: November 11, 2008 at 6:52 am
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