Momentum Internet, an Asia-focused Internet incubator headquartered in Hong Kong, has announced a management buy-back from its former US parent company, ZiaSun Technologies Inc.
Anthony Tobin, Momentum Internet's CEO, said of the buy-back: 'I'm delighted to be running a private company again. There were differences of opinion and style with the current management at ZiaSun Technologies and both parties felt there were significant advantages in going our separate ways. It was cramping our rapid development. We now expect to flourish and to build a bright future.We are currently in discussions with new strategic partners and private investors who are interested in Momentum Internet's huge potential as an independent Internet incubator and online marketing company.'
Momentum's products and services include the Internet stock trading system Swiftrade (www.swiftrade.com), Lime Systems (www.limesystems.com), and AsiaEnet (www.asiaenet.com). Mr Tobin said that Swiftrade, which offers online investors the choice of trading the US and Hong Kong markets, would be expanded with increased features, additional news and data from Reuters, and multi-lingual capabilities.
Mr Tobin said of the services offered by the Momentum, AsiaEnet offered the greatest scope. He said: 'Our greatest opportunity lies in AsiaEnet and its recently-launched, English-language, Asian business portal Tigertooth (www.tigertooth.com), which uses Momentum's most popular websites, M-Finance (www.mfinance.com) and Search Dragon (www.searchdragon.com), as its foundation.'
Although headquartered in Hong Kong, Momentum's main production and marketing operations are in Manila and its high-end programming in Brisbane.
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