[0] Primus To Acquire AnswerLogic.Business Editors, High-Tech Writers SEATTLE--(BUSINESS WIRE)--May 21, 2001 Primus (Nasdaq:PKSI), a leading provider of knowledge-enabling software, announced today that it has reached an agreement to acquire AnswerLogic, a Washington, D.C.-based software development company. The acquisition will further strengthen Primus' position as a market leader in providing software solutions for assisted service and Web-based self-service. Under the terms of the agreement, Primus will purchase AnswerLogic for 750,000 shares of common stock. The acquisition will be accounted for as a purchase transaction and is subject to customary closing conditions. "AnswerLogic's technology is a natural extension and ideal complement to Primus' products," stated Lou Pugliese, AnswerLogic's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Combining both product lines, significantly expands the market reach for natural language processing Natural language processing Computer analysis and generation of natural language text. The goal is to enable natural languages, such as English, French, or Japanese, to serve either as the medium through which users interact with computer systems such as (NLP (Natural Language Processing) The capability of understanding human language. If the language is spoken, voice recognition plays an important role in converting the sounds to individual words. Then, natural language processing figures out what the words mean. ) technology and it will bring notable value to Primus' assisted and Web-based service solutions," he continued. AnswerLogic's NLP technology interprets the meaning of questions and online documents, in context, to deliver accurate and relevant responses online, in real time. Their AE1(TM) answer engine is designed for corporations who want their Web sites to function as the first line of customer interaction. Their solution also includes in-depth feedback and reporting capabilities. The addition of AnswerLogic's technology further enhances Primus' search and retrieval capabilities in the areas of unstructured data Data that does not reside in fixed locations. Free-form text in a word processing document is a typical example. Contrast with structured data. See free-form database. , document-based repositories, and formats including HTML HTML in full HyperText Markup Language Markup language derived from SGML that is used to prepare hypertext documents. Relatively easy for nonprogrammers to master, HTML is the language used for documents on the World Wide Web. and PDF (Portable Document Format) The de facto standard for document publishing from Adobe. On the Web, there are countless brochures, data sheets, white papers and technical manuals in the PDF format. . "Our customers have had great success using the Primus product suite to bring measurable efficiencies to their customer service and support efforts and have asked us to extend the power of our technology to content residing across their organization," said Mike Brochu, president and CEO of Primus. "Some key features of AnswerLogic's technology will allow customers to further automate To turn a set of manual steps into an operation that goes by itself. See automation. the process of getting content into our knowledge base and to access more content enterprise wide. This technology will allow us to address our customers' needs by significantly expanding our powerful knowledge management capabilities and will provide a more rapid ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). ," he noted. Primus(R) eServer software is used in service, support and sales environments to improve and expand product usage, provide problem diagnosis and resolution, and to create, capture and share comprehensive data between multiple channels and divisions. Primus(R) eSupport is self-service problem resolution software designed to provide quick access to relevant solutions and easy escalation es·ca·late v. es·ca·lat·ed, es·ca·lat·ing, es·ca·lates v.tr. To increase, enlarge, or intensify: escalated the hostilities in the Persian Gulf. v.intr. , while capturing customer query and problem descriptions for analysis purposes. Primus(R) Interchange An interchange is a location where two things meet, usually perform some kind of exchange, and possibly go on their ways again. It is most commonly used in four contexts:
adj. 1. Of, characterized by, resulting from, or causing association. 2. Mathematics Independent of the grouping of elements. search technology to deliver immediate responses to customer email, around-the-clock. Primus' knowledge-enabling software reduces call times, escalation rates, and training costs in customer contact centers, while increasing customer satisfaction levels. Michael Brochu, president and chief executive officer, and Ron Stevens Ron Stevens (born 1949) is an Albertan MLA who is currently that province's Deputy Premier and Minister of Justice and Attorney General. Ron Stevens was born in Empress, Alberta, in 1949. , chief financial officer, invite you to participate in a conference call discussing this announcement today at 4:30 p.m. Eastern Time. The conference call number is 800/290-2715. Please call five minutes in advance to ensure that you are connected prior to the presentation. The call will also be broadcast live via Primus' website at www.primus.com. A playback Playback could mean:
About AnswerLogic AnswerLogic, a software company based in Washington, D.C., was founded in 1999. The company is distinguished for its AE1 product used to redefine Verb 1. redefine - give a new or different definition to; "She redefined his duties" define, delimit, delimitate, delineate, specify - determine the essential quality of 2. Web-to-customer interactions by delivering targeted online content through the intelligent automation of unstructured data. AE1 is used for content configuration, administration, acquisition and preferred-answer generation for FAQs. The product also features advanced question logging and clustering capabilities to provide real-time insight into customer online information needs so corporations can pro-actively address those needs. For more information, visit www.answerlogic.com or call 202/223-1444. About Primus Primus is a leading provider of knowledge-enabling software that helps drive customer satisfaction for Global 2000 companies. The Primus(R) Associative Search Engine delivers powerful search, retrieval, and authoring capabilities that enhance traditional CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. implementations with the power of knowledge in context. Primus has more than 180 customers worldwide, including such industry leaders as 3Com, 3M, The Boeing Company, Compaq Computer Corp., Ericsson, Inc., Fujitsu Limited, Inc., Genuity, Motorola and Novell. Based in Seattle, Primus has offices throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , and in Europe and Japan. For more information, visit www.primus.com or call 206/834-8100. Primus, Primus eServer, Primus Interchange and Primus eSupport are registered trademarks or service marks of Primus Knowledge Solutions, Inc. AE1 is a trademark of AnswerLogic, Inc. Other products and company names mentioned in this press release may be the trademarks of their respective owners. Any statements, expectations and assumptions contained in this press release that do not describe historical facts, such as statements about the integration, implementation, sales potential or synergies related to the AnswerLogic acquisition and the implementation, use and performance of Primus products and the anticipated results constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. There is no guarantee that these results will actually occur or that AnswerLogic's personnel will be successfully integrated or retained, that AnswerLogic's products will successfully perform or be integrated with Primus products or that new products derived from the acquisition will provide future revenues. Any forward-looking statements contained in this release are based on current expectations, are not guarantees of future performance, and are subject to a number of risks and uncertainties. Factors that could cause actual results to differ materially from current expectations include the following: difficulties encountered in the integration of AnswerLogic's personnel and products with Primus, risks of retention of AnswerLogic employees, difficulties encountered in the deployment, or implementation of the Primus and AnswerLogic products and customer's systems; failure in a customer's widespread adoption and use of the Primus and AnswerLogic products; quality of the customer's database of solutions; fluctuations in customer demand; use of the Web as a delivery vehicle for customer support solutions; risk resulting from new product introductions and customer acceptance of new products; rapid technological change; the risks associated with competition and the rapid consolidation of competitors; continued growth in the use of the Internet; the ability of Primus to manage its growth and integration efforts and the ability of Primus to compete successfully in the future, as well as other risks identified in Primus' Securities and Exchange Commission filings, including but not limited to those appearing under the caption "Factors Affecting our Future Operating Results" in the Primus' Report on 10-K filed on March 26, 2001. The extent of return on investment of Primus and AnswerLogic products is specific to the customer's experience. For more information, contact: |
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