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Business News (more headlines) 06-16-2004

Nimbit Merges With Artist Development Associates

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Nimbit, a leading Web services company for entertainers, has merged with Artist Development Associates, 9-year veteran provider of media manufacturing and fulfillment services, to create a new breed of business enablement for independent artists and labels. The merger brings Web technology and media manufacturing within reach of every individual in the music and entertainment industries. The merged companies will be marketed under the Nimbit brand.

Nimbit boasts years of cutting edge Web development and design that has fueled the online efforts of many prestigious names in the music and entertainment industry. Some of Nimbit's present and past relationships include, Rolling Stones, Aerosmith, Phish, Medeski Martin and Wood, Capitol Records, The Boston Ballet and many others. The Company delivers integrated Web technologies, known as Nimbit WebTools, which allow clients to operate a self-managed website, meaning the non-technical person can maintain and operate it themselves, without the cost of full time webmaster services.

Artist Development Associates (ADA) delivers quick turn and full service CD/DVD manufacturing and fulfillment that empower independent artists to run their own careers and record companies. ADA gives artists a viable alternative to the "record deal", with solutions that create a sustainable income while insuring creative freedom. ADA also operates CDFreedom.com, an online retail solution and consumer destination for indie music of all genres.

"The Internet has fundamentally altered life in the music business. By bringing the vision and technology of our two companies together, it raises the possibilities to a whole new level," states Patrick Faucher, founder of Nimbit and CEO of the newly merged venture. He went on to say, "ADA has a solid reputation, serving thousands of happy clients, which we intend to build on by bringing them the next generation of solutions for their business and careers."

Philip Antoniades, founder of Artist Development Associates explained, "The benefit is that we've given artists every opportunity to develop their CDs from beginning to end, all from their Website". "Nimbit provides the online tools that allow the user to communicate with fans, manage CD inventory, view their sales, and more. With the merger we've combined all of our resources and brought it all under one roof in a super convenient way for any artist or label," he concluded.

The joint venture is now seeking growth funding which will be used to expand its current operations and marketing. The company currently has 13 employees and has been operating cash-flow positive since January 2002.

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