Chicago-based Jordan Global Enterprises (JGE), a venture capital firm with diversified holdings, has acquired controlling interests in SCOTTeVEST LLC (SeV) and Technology Enabled Clothing LLC (TEC). The deal was consummated today in all stock deal valued at over $100 million. Jordan Global Enterprises divested itself of large interests in Microsoft, General Electric and other leading companies to acquire SeV and TEC.

According to Scott Jordan, President/CEO of JGE, “We have been watching SeV and TEC for awhile. We believe that the patent pending Personal Area Network (P.A.N.) will be incorporated into all upper body garments in coming years, making this a billion dollar proposition. We believe the purchase price of $100 million is a bargain.” Jordan cited SeV=92s huge growth earnings “over 1,500 percent increase in revenue last year” as another asset that made the company an attractive buy. “We were drawn to its great earning potential.”

Former Playboy Bunny (August 1999) and SeV spokesmodel, Rebecca Scott, has been appointed CEO of SeV. Believed by some to be an unusual move, Jordan explains that he has been watching Rebecca for some time and can easily see her in this position, among others. Jordan said, “She belongs on top. In my wildest dreams, I never thought I would find someone with her attributes. She is a dream come true.”

In another unprecedented move, SeV Marketing Director, Kelly Adoggi, has been named CEO of TEC. Kelly describes her position of top dog of TEC as, “a real treat.” While she declined to comment on her plans for the company, industry observers will be keeping a close eye on her. Kelly is a controversial choice. While praised for her ability to take the ball and run with it, she also has a reputation for barking out orders. The combination has made her somewhat of a lone wolf in the corporate world. Jordan, shrugs off any criticism of Kelly, saying that, “her bark is bigger than her bite.”

While some question the timing of this merger, Jordan claims that the timing of the announcement is of the utmost importance. Stealing a look at his calendar, Jordan went on to say that, “opportunities like this are rare. They tend to happen only once a year.”

SimonSaysShop.com launched an improved version of their site, with a new look, new features, and more new releases. Now SimonSaysShop.com offers the Palm Reader format, and to mark the occasion, they’re going to give away a Palm i705 handheld. Buy any ebook in any format and you’ll be automatically entered to win.

Michelin North America, Inc. and Palm, Inc. announced a special offer for tire buyers. For a limited time, March 30 through May 10, 2003, consumers purchasing any four new Michelin brand light truck/SUV or passenger car tires will receive a mail-in certificate for a free Palm Zire handheld computer with a retail value of $99. The offer will be promoted online at http://www.michelinman.com and through more than 15,000 participating Michelin retailers in the United States.

PalmSource has launched a contest for Palm OS device users to tell the how Palm OS has changed their lives. They’re looking for true stories about successful businesses and ordinary people enriched by a Palm OS handheld or smart phone. Winning submissions will receive a Palm OS device of their choice.

Palm Digital Media, Inc. released its list of March’s top 10 best-selling ebooks.

NetSol Technologies, Inc. announced that NetLogic Liberty Wireless Broadband, a joint venture between NetSolConnect (Pvt.) Ltd., a subsidiary of NetSol Technologies, Inc., and United Kingdom-based iLogic, has signed a three-year contract with Askari IV to deliver high-speed broadband services to an Army Welfare Trust Housing Scheme located in Karachi, Pakistan.

Best Software announced an update to ACT! for Palm OS, a complete contact management application designed specifically for the Palm OS platform. The free update includes Palm OS 5 support for the newest handhelds including the popular Palm Tungsten device, telephony features which allow customers with Palm OS smartphones to dial directly from an ACT! contact record, and increased database performance.

ZettaWorks and Unbound Technologies announced the formation of an alliance that introduces a new wireless Universal Applications Messaging (UAM) practice, extending the business enterprise to wireless devices. UAM is built on ZettaWorks

SplashData has released SplashMoney 2.9, a free update to their personal finance manager for Palm OS. Version 2.9 is the latest in a series of free updates recently introduced by SplashData. New features include budgeting and reporting, scheduled transactions with Reminders, custom transaction types, global Find support, multiple currency support, support for Hi-Res and Hi-Res+ displays, and support for Palm Tungsten T 5-way nav and Sony Clie jog-dial.

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