Adaptec Acquires Wild File, Leader in Continuous Backup and System Recovery Software; Acquisition Expands Adaptec's Suite of Application Software Products.Business Editors/High-Tech Writers MILPITAS, Calif.--(BUSINESS WIRE)--March 14, 2000 Adaptec, Inc. (Nasdaq:ADPT ADPT Automated Data Processing/Telecommunications ADPT Adaptec Corporation (stock symbol) ADPT Adaptive Prediction ADPT Auger Depth Profiling Technique ADPT Automated Data Processing Telecommunications ADPT Adapter ) today acquired Wild File, Inc., of Minneapolis, Minn., for approximately $29 million in cash, common stock and assumed stock options. Wild File is the maker of GoBack, the multiple award-winning desktop protection software that allows PC users to effortlessly ef·fort·less adj. Calling for, requiring, or showing little or no effort. See Synonyms at easy. ef  fort·less·ly adv. undo To restore the last editing operation that has taken place. For example, if a segment of text has been deleted or changed, performing an undo will restore the original text. Programs may have several levels of undo, including being able to reconstruct the original data for all edits a
multitude of problems arising from system crashes, failed software
installations, and user error. The software takes a computer back in
time to virtually any moment in the recent past when everything was
working fine.
With the addition of GoBack to its software line, Adaptec now offers complete solutions for moving, managing, and protecting all types of content -- audio, video, photo and data. "PC users around the world manage and depend on a variety of data, but have not had an easy solution to protect against crashes and glitches. Adaptec is dedicated to protecting that valuable data and maintaining user productivity," said Tom Shea, vice president and general manager of Adaptec's Software Products Group. "Combined with Adaptec's Take Two and ReZOOM products, GoBack further expands the strongest suite of PC productivity protection software available. Adaptec now offers compelling applications that deliver data protection with minimal user investment of effort or time." Adaptec entered the application software market in 1995 with CD recording products designed to help users move and manage their audio, video, photo and data files. Those products now lead the industry and win editorial awards around the world. Adaptec leveraged its CD recording software expertise into data protection and disaster recovery software packages such as Take Two and ReZOOM, and saw its software business grow to $23.2 million last fiscal quarter. By adding GoBack to its product portfolio, Adaptec is enhancing its position as the premier provider of software products that move, manage, and protect PC users' valuable content, and complementing its CD recording market lead with a market lead in disaster recovery. Performance Demands and Uptime Requirements Drive Need for Content Protection Today, PC users increasingly rely on their computers for business and personal productivity and entertainment. PC users create presentations, search Internet Web sites, archive digital photos, download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. MP3 files, and send email attachments See e-mail attachment. by the hundreds. This content is increasingly important to PC users, and the ability to protect it from system crashes, virus attacks, failed software installations and simple user errors is paramount. To offer that protection, Wild File, Inc., of Minneapolis, a 20-year-old software company, introduced GoBack to overwhelming acclaim in 1998. Among GoBack's awards are PC Magazine's Editors' Choice, 2000 Codie Award for Utilities-Best Debut by the Software & Information Industry Association and PC World's Best Buy. GoBack already ships with the PC lines of several major OEMs accounting for over a million units every quarter, and has been listed as the number one Business and Productivity Software product on barnesandnoble.com. Stephen Manes Stephen Manes (born 1949) wrote the "Digital Tools" column that appeared in every issue of Forbes until recently when he took a break. He is expected to return in the future. of Forbes wrote: "The conceptual genius of GoBack is that it requires no special knowledge of the way computers work. You don't have to know what went wrong or why; you simply order the machine to travel back in time to that golden age a couple of hours earlier when you knew things were working fine..." GoBack is an immediate, self-service solution to common PC problems, including system crashes, virus attacks, failed software installations, operator error and accidental accidental /ac·ci·den·tal/ (ak?si-den´t'l) 1. occurring by chance, unexpectedly, or unintentionally. 2. nonessential; not innate or intrinsic. data loss. PCs protected by GoBack can circumvent cir·cum·vent tr.v. cir·cum·vent·ed, cir·cum·vent·ing, cir·cum·vents 1. To surround (an enemy, for example); enclose or entrap. 2. To go around; bypass: circumvented the city. costly technical support by stepping back in time to a point when everything was okay. Because GoBack runs underneath the Windows operating system operating system (OS) Software that controls the operation of a computer, directs the input and output of data, keeps track of files, and controls the processing of computer programs. , it can restore a PC to working order even if Windows won't boot (no special disk is required.) In addition, with GoBack users can retrieve individual files or directories, even those emptied from the Recycle Bin Starting with Windows 95, a simulated garbage can used for deleting files and folders. The recycle bin keeps the files intact in case the user wants to restore them, but can be "emptied" from time to time to save disk space. . With Adaptec's existing ReZoom and Take Two data recovery solutions, Adaptec offers data protection depending on user needs: from simple disk imaging to full redundancy. It's protection for your most valuable PC assets: data and time. "We're very proud of what we've accomplished for PC users with GoBack, and we're excited that the benefits of our product will now be shared around the world via Adaptec's OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and and channel relationships," said Eric Schneider, president of Wild File, Inc. "With Take Two and ReZOOM, GoBack will be joining a winning team with a unified mission -- to protect the desktop data that drives the business world." Adaptec will account for this acquisition under the purchase method of accounting. Adaptec will evaluate the allocation of the purchase price to the assets acquired, which may include in-process technology that will be written off, and intangible assets Intangible Asset An asset that is not physical in nature. Notes: Examples are things like copyrights, patents, intellectual property, and goodwill. These are the opposite of tangible assets. and goodwill that will be amortized over the benefit period. Contact Information GoBack 2.1 is available now and has a manufacturer's suggested retail price of $69.95. Customers can order product via the web site at www.goback.com or through all the major distribution channels. About Adaptec Adaptec makes products and solutions that move, transfer, manage, and protect valuable data that is the heart of Internet and e-business computing computing - computer . Adaptec's hardware and software products are found in high-performance servers and workstations from the world's leading manufacturers, and are sold through distribution channels to enterprises, medium and small businesses, and consumers. With a range of host I/O (Input/Output) The transfer of data between the CPU and a peripheral device. Every transfer is an output from one device and an input to another. See PC input/output. I/O - Input/Output , RAID, and CD recording software products, Adaptec is a market leader in storage and digital content solutions, and a powerful enabler of today's information age. Adaptec is an S&P 500 and a NASDAQ 100 member. More information is available at http://www.adaptec.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This press release contains 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. regarding the company's global PC data protection position and opportunities for product sales. These forward-looking statements are subject to risks and uncertainties and actual results could differ materially from these projections due to various factors including, but not limited to, the risks associated with closing significant acquisitions, new product introductions by competitors, rapidly changing PC data protection product preferences by customers, and general economic conditions. For a more detailed discussion of the factors that affect the company's operating results, interested parties should review the company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended March 31, 1999. |
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