Firms Fail to Agree on NetUpdate by Deadline

Point-of-sale vendor Data-Vision Inc. said it has missed a deadline to reach final agreement with Most Home Corp. on terms for its previously planned acquisition of NetUpdate Inc. Data-Vision president, Randy Schmidt, stated, "Unfortunately, after receiving board acceptance of the terms outlined in our Letter of Intent, the shareholders of Most Home were seeking much greater terms than we were willing to concede given the current market conditions. We are disappointed that the Letter of Intent has expired without being able to reach a definitive agreement." No further details were disclosed at press time. Data-Vision has been serving U.S. lending institutions since 1993 with a suite of Web portal and e-lending applications to facilitate online origination, point-of-sale, lead capture, instant decisioning, product selection, initial disclosures, and secure electronic document delivery to provide immediate returns for lenders.