Applix Acquires Cosource.com; Bernie Thompson Named President of Applix's Linux Division.WESTBORO, Mass.--(BUSINESS WIRE)--Dec. 13, 1999-- Applix, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :APLX) today announced the acquisition of Cosource.com, a leading auction site for open source and Linux software enhancements. Terms of the acquisition were not disclosed. In conjunction wed e-commerce solution, which will facilitate op base through active partnering with Linux operating system vendors, web portals and Application Service Prog edge technology and innovative Internet services. Further, the acquisition better positions the Linux Division to execute a possible spinout spin·out n. An instance of spinning out: a motorist who was injured in a spinout. strategy in the future." Bernie Thompson, Founder & 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. of Cosource.com commented, "Because software technology is increasingly critical products and services served by these systems."stem. His involvement with Linux dates back to 1993. Mr. Thompson added, "With solid financials, strong underlying technology, and established position in the Linux and re, applications are deployed to any standard wation web site. Applix iEnterprise is an Internet-based customer relationship management (CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. ) solution. The Company's products are available on a variety of operating sy Cosource.com, currently headquartered in Rked #4 on Red Herring's top 10 trends for 2000. US organizations spent $180 billion on contract and salaried software development in 1998. Much of this expense results fnts. Using the Cosource.com web service, compani can be found at http://www.cosource.com. onsidered forward-looking and subject to a number of risks and uncertainties, including but not limited to: the rate of growth in market demand for the products; the accepid technological change; frequent new product introductions and evolving domestic and international standarct events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipate0--mp/bos* CONTACT: Applix, Inc. ks to your home page. URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. :0001 02 BW0073 DEC 13,1999 5:02 PACIFIC 8:02 EASTERN ( BW)(WA-EMERITUS)(ESC See escape character and escape key. See also ESC/P. ESC - escape ) Saratogany expects to use a portion of the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). nder the agreement, Saratoga may convert to common stock anytime, and Emeritus may call the preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. after three years under certain circumstances relating to the price of its common stock. In connection with the transaction, Charles P. Durkin, Jr. and David W. Niemiec, both Managing Directors of Saratoga, will join the company's board of directors. The transaction is subject to certain conditions, with $30 million expected to close at the end of December and the remainder in the first quarter of 2000. The 20 assisted living as·sist·ed living n. A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication. facilities to be purchased represent 1,45margins of 40%. "Saratoga has a track record of making smart investments that deliver results and we arial 20-facility purchases will be completed in d through our partnership with Saratoga and ourbetween $50 and $500 million. Saratoga's investsted living and related services to the elderly. The company is one of the largest developers and operators of freestanding assisted living communities throughout the United States and has commenced development of assisted living facilities in Japan. These communities provide a residential housing alternative for senior citizens who need help wnity to age in place. The Company currently holC. The company's web page can be found on the Internet at www.emeritus.com. |
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