Artisoft Signs Definitive Agreement with Prologue Software Group to Sell Communications Software Group Assets.Business/Technology Editors CAMBRIDGE, Mass.--(BUSINESS WIRE)--June 6, 2000 Deal Completes Artisoft's Move to Focus Solely on Growth Potential of the Computer Telephony See CTI, VoIP and IP telephony. Computer Telephony - Computer Telephone Integration Market Artisoft(R) 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 :ASFT ASFT Airport Surface Friction Tester ), a leading developer of software-based phone systems, today announced it has signed a definitive agreement to sell the Communications Software (communications, software) communications software - Application programs, operating system components, and probably firmware, forming part of a communication system. These different software components might be classified according to the functions within the Open Systems Group's (CSG CSG - constructive solid geometry ) assets to Prologue Software Group. With this sale, Artisoft has successfully completed its shift to focus all of its research and development, marketing, channel and sales resources on the computer telephony market. With its strategic focus on computer telephony, Artisoft will be able to further maximize its efforts in working with its customers and partners to capitalize on the huge end-user demand in this market. "With the final sale of CSG, we are now able to capitalize on our success in the rapidly growing computer telephony market, led by our award-winning software-PBX, TeleVantage," said Mike Downey, chairman of the board and interim 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. at Artisoft. "We believe our strategic focus on the computer telephony business will allow us to maximize the benefit for our shareholders, and enable us to continue to enhance our product offerings, further strengthen our current and future partnerships, and further develop our channel, marketing, sales, research and development, and customer support organizations." Prologue, headquartered in France and a pioneer in the field of multi-user systems and the Thin Client concept, has acquired CSG assets to step up their presence and product offerings in North America. About Artisoft Artisoft, Inc. (NASDAQ:ASFT) of Cambridge, Mass., is a leading developer of software-based phone systems for small- to medium-sized businesses and corporate branch offices. Artisoft's innovative software products have received more than 100 industry awards including "Product of the Year", "Best of Show" and "Editors' Choice" by PC Magazine, Network Magazine, VARBusiness, CT Magazine, Communications Solutions Magazine and CTI (Computer Telephone Integration) Combining data with voice systems in order to enhance telephone services. For example, automatic number identification (ANI) allows a caller's records to be retrieved from the database while the call is routed to the appropriate party. Magazine among others. The company distributes its products worldwide. For more information, please call Artisoft at 800-914-9985 or visit http://www.artisoft.com. Artisoft, TeleVantage and Visual Voice are registered trademarks of Artisoft, Inc. All other company and product names mentioned may be trademarks or registered trademarks of the respective companies with which they are associated. "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 under 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: This release may contain forward-looking statements that involve risks and uncertainties. Among the important factors which could cause actual results to differ materially from those in the forward-looking statements are the impact of competitive products and pricing, product demand and market acceptance risks, the presence of competitors with greater financial resources, product development and commercialization risks, costs associated with integration and administration of acquired operations, capacity and supply constraints or difficulties, the results of financing efforts and other factors detailed in the Company's filings with the Securities and Exchange Commission including its recent filings on Forms 10-K and 10-Q. |
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