ZixIt Announces Huizenga Group to Invest Between $20 and $44 Million
H. Wayne Huizenga to Become Vice Chairman of the Board of ZixIt Corporation
DALLAS, March 23 /PRNewswire/ -- ZixIt Corporation (Nasdaq: ZIXI)
announced today that a group headed by H. Wayne Huizenga will invest between
$20 and $44 million in a private placement of ZixIt common stock. As part of
the investment, H. Wayne Huizenga will become vice chairman of the board of
David P. Cook, chairman and chief executive officer of ZixIt Corporation,
commented, "ZixIt is very fortunate to have someone of Wayne's stature and
abilities join the company. His guidance will be important as we expand our
ZixMail(TM) service to Internet users throughout the world."
H. Wayne Huizenga commented, "I'm pleased to once again be associated with
David Cook. David has always been on the cutting edge of computer technology.
The business systems he developed for Blockbuster allowed us to quickly become
the leading video retailer, not just in the United States, but internationally
as well. We believe that David's new company, ZixIt, and its ZixMail product
will revolutionize secure email globally. We visualize that ZixMail will
become as much a part of people's lives as Blockbuster is."
Details of the transaction are still being finalized and will be subject
to the approval of ZixIt's board of directors.
H. Wayne Huizenga is chairman of several NYSE-listed companies including
AutoNation, Inc. and Extended Stay America, which operates in the lodging
industry. He is also the sole owner of the National Football League's Miami
Dolphins and Pro Player Stadium.
Previously, Mr. Huizenga was chairman of the board and chief executive
officer of Blockbuster Entertainment Corporation. He directed Blockbuster, a
company that David Cook founded, into a position of world leadership in its
industry, increasing shareholder value from approximately $100 million to an
ultimate valuation of $8.5 billion when it was sold to Viacom in 1994.
In January 1971, Mr. Huizenga co-founded Waste Management, Inc., which
today is the world's largest waste collection and disposal company. He served
as president, chief operating officer, vice chairman, and director, before
retiring from the company in 1984.
ZixIt Corporation is the provider of ZixMail(TM) -- a secure document
delivery, private email, and message tracking service that enables users
worldwide to easily send and receive encrypted and digitally signed
communications using their existing email systems and addresses. ZixIt is
also developing ZixCharge(TM) -- a shopping portal and Internet payment
authorization system, and other products designed to enhance security,
privacy, and convenience for the Internet. For further information, visit
www.zixit.com or contact investor relations at 972-702-7057.
SOURCE ZixIt Corporation
CONTACT: investors, Beverly V. Fuortes of ZixIt Corporation,
972-702-7057, or email, firstname.lastname@example.org; or press, John Crowe of Public
Strategies, Inc., 512-432-1992, or email, email@example.com, for ZixIt