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Attachmate Announces Agreement to Sell the Company to Investment Group.


BELLEVUE Bellevue (bĕl`vy).

1 City (1990 pop. 30,982), Sarpy co., E Nebr., a suburb of Omaha, on the Missouri River; inc. 1855.
, Wash. -- Attachmate Corporation, 20-year veteran of connecting users with critical enterprise applications and data, announced today it has executed a definitive purchase agreement to sell the company to an investment group consisting of Francisco Partners, Golden Gate Capital, and Thoma Cressey Equity Partners. The sale is expected to be completed by late May. This same investment group purchased Attachmate's cross town competitor, WRQ (WRQ, Inc., Seattle, WA, www.wrq.com) A software company that specialized in terminal emulation and NT-Unix integration products. Founded in 1981 as Walker Richer and Quinn, Inc., a consulting firm in minicomputer and mainframe applications, it introduced an HP terminal emulator for the  Inc., at the end of 2004. The two companies are expected to merge upon the successful completion of the Attachmate transaction.

"This was a very strategic, but personally difficult, decision," said Frank Pritt Frank Pritt was a salesperson and product manager for Harris Corporation in the 1970s, then founder of Attachmate Corporation in 1982. Attachmate went on to become Washington's largest privately held software firm. , president and 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 Attachmate. "This sale will provide Attachmate with the financial capital to ensure its future growth and continued market leadership. Attachmate will have the resources to continue to address the opportunities in its current markets as well as tap opportunities related to adjacent customer needs. I know the founder of WRQ and think the two companies will make a perfect combination. The markets, products, and company cultures are a perfect fit, both for customers and employees."

Upon the transaction closing, Frank Pritt will retire from the company he founded in 1982. Jeff Hawn, chairman of WRQ since January of this year, will become the new CEO of the combined company. His prior experience includes BMC Software BMC Software, Inc. NYSE: BMC, is an American enterprise management software provider, focusing on IT infrastructure applications. BMC was founded in 1980 and is headquartered in Houston, Texas. , where he was senior vice president of operations, and McKinsey & Company, where he was a partner. Hawn indicated current Attachmate senior management will remain with the combined company. "I believe this is the right ownership and management team to create an exciting future for the combined company," said Pritt.

"With this," Pritt indicated, "the company is ready to close another successful chapter, and start a new one. Not only has the current staff contributed to Attachmate's success over the years but many of its former employees were very instrumental to that success as well. For that, I want to say, 'thanks to all'."

About Attachmate

Attachmate(R) was founded in 1982 by Frank Pritt and his former wife, Julia Pritt, in their living room. Frank went on to lead the company for the next 23 years. Julia started the non-profit organization A non-profit organization (abbreviated "NPO", also "non-profit" or "not-for-profit") is a legally constituted organization whose primary objective is to support or to actively engage in activities of public or private interest without any commercial or monetary profit purposes.  "Washington Women in Need," dedicated to providing financial assistance for health care and educational needs to low-income women living in the state of Washington. Their goal is to improve the quality of life for low-income women.

Attachmate has been a major technology employer in the Seattle area, and its products, as well as the company itself, have won numerous awards and nominations over the past 20 years, including being named one of the "Best Companies to Work For" by Washington CEO magazine. The company and its management team have the distinction of never having an unprofitable year since the formation of the company.

One of the world's largest privately held software companies, Attachmate Corporation is helping companies take advantage of service-oriented architecture See SOA.  (SOA (1) (Start Of Authority) The first record in a DNS zone file. See DNS records.

(2) (Service Oriented Architecture) The modularization of business functions for greater flexibility and reusability.
) as a platform for the user-organized enterprise -- delivering solutions that overcome infrastructure and standards barriers to meeting user demands. From composite applications In computing, the term composite application expresses a perspective of software engineering that defines an application built by combining multiple services. People often compare composite applications to mashups.  to efficient user interfaces, Attachmate technology helps Fortune 500/Global 2000 companies service-enable disparate systems while safeguarding existing business logic. More than 20 million copies of their product EXTRA!(R) are on the desktops of the major companies and government agencies thought the world. News and information is available at http://www.attachmate.com or by calling Attachmate worldwide headquarters in Bellevue, Washington Bellevue is a rapidly growing city in King County, Washington, U.S., across Lake Washington from Seattle. Long known as a suburb or satellite city of Seattle,[1] it is now categorized as an edge city or a boomburb. , at 425-644-4010.

About WRQ

WRQ(R) (www.wrq.com) builds software for accessing and integrating legacy applications. WRQ Reflection(R) software provides a broad range of terminal-emulation, PC X-server, and SSH (Secure SHell) A security protocol for logging into a remote server. SSH provides an encrypted session for transferring files and executing server programs. Also serving as a secure client/server connection for applications such as database access and e-mail, SSH supports a  security solutions. WRQ Verastream(R) integration server provides a single platform for reusing legacy logic and data in web applications, CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization.  applications, or portals. Established in 1981, WRQ has over six million users worldwide and the highest customer-support rating in the industry. Three out of four of Global 500 companies rely on WRQ daily. Access. Integrate. Transform.(R)

About Golden Gate Capital

Golden Gate Capital (www.goldengatecap.com) is a San Francisco-based private equity investment firm with approximately $2.5 billion of capital under management. Golden Gate is dedicated to partnering with world class management teams to invest in change-intensive, growth businesses. They target investments of up to $100 million in situations where there is a demonstrable de·mon·stra·ble  
adj.
1. Capable of being demonstrated or proved: demonstrable truths.

2. Obvious or apparent: demonstrable lies.
 opportunity to significantly enhance a company's value. The principals of Golden Gate have a long and successful history of investing with management partners across a wide rage of industries and transaction types, including leveraged buyouts leveraged buyout, the takeover of a company, financed by borrowed funds. Often, the target company's assets are used as security for the loans acquired to finance the purchase. , recapitalizations, corporate divestitures and spin-offs, build-ups and venture stage investing.

About Francisco Partners

With $2.5 billion of committed capital, Francisco Partners is one of the world's largest technology-focused private equity funds. The firm was founded to pursue structured investments in technology companies undergoing strategic, technological, and operational inflection points Inflection Point

An event that changes the way we think and act.
-Andy Grove, Founder of Intel.

Notes:
For example, the fall of the Berlin Wall was an inflection point in global politics and the commercialization of the Internet was an inflection point in technology.
. Francisco Partners targets majority and minority investments in private companies, public companies, and divisions of public companies, with transaction values ranging from $30 million to $2.0 billion. The principals of Francisco Partners have a proven track record, having invested in excess of $3.0 billion of equity capital in over 50 technology companies. For additional information, visit www.franciscopartners.com.

About Thoma Cressey Equity Partners

Thoma Cressey Equity Partners is a leading private equity investment firm that has been providing equity and strategic support to experienced management teams building growing companies for almost 25 years. The firm originated the concept of "industry consolidation" or "buy & build" investing, which seeks to create value through the strategic use of acquisitions to accelerate business growth. Thoma Cressey's investment focus is on profitable, middle-market companies in the software, healthcare, business services and consumer products and services industries. The firm provides equity capital for buyouts, MBOs, growth equity investments, and going private transactions. More information about TCEP TCEP tris(2-carboxyethyl)phosphine
TCEP Topanga Coalition for Emergency Preparedness
 can be found at www.thomacressey.com.

(C) 2005 Attachmate Corporation. All Rights Reserved. Attachmate and EXTRA! are registered trademarks of Attachmate Corporation. All other trademarks, trade names, or company names referenced herein are used for identification only and are the property of their respective owners.
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Apr 18, 2005
Words:1007
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