Banyan Systems Completes Realignment of Its Switchboard Subsidiary's Relationship With America Online.WESTBORO, Mass.--(BUSINESS WIRE)--Dec. 10, 1998--Banyan Systems Incorporated (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 :BNYN BNYN ePresence (stock symbol; formerly known as Banyan) ) today announced that its majority-owned Internet subsidiary, Switchboard, Incorporated, completed the realignment re·a·lign tr.v. re·a·ligned, re·a·lign·ing, re·a·ligns 1. To put back into proper order or alignment. 2. To make new groupings of or working arrangements between. of its business relationship with America Online See AOL. (NYSE NYSE See: New York Stock Exchange :AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. ). The realignment began on August 28, 1998 when Banyan announced that Switchboard's White Pages directory service contract with AOL would not be renewed at the end of November 1998, and that Switchboard's existing Yellow Pages agreement with AOL was among the items under review by both companies. As a result of this review, Switchboard's Yellow Pages contract with AOL will not be renewed when it expires at the end of 1998, although the two companies continue to work together in other areas, including AOL's Digital City business. AOL remains a minority investor with a 10 percent equity interest in Switchboard, Incorporated. Switchboard (www.switchboard.com) is the leading white and yellow pages directory on the Web according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Media Matrix, the foremost Internet traffic monitoring service. Offering comprehensive information, unmatched speed and innovative features, Switchboard is the on-line directory selected by Alta Vista, Bell Atlantic and GeoCities. About Banyan Systems Incorporated: Banyan Systems Incorporated (NASDAQ:BNYN), founded in 1983, is a leading provider of advanced enterprise solutions that integrate multi-vendor networking environments. Headquartered in Westboro, Massachusetts, USA, Banyan (http://www.banyan.com) supports hundreds of Fortune 1000 companies and government agencies worldwide with products and services that integrate core business applications and intranets creating highly reliable, easily managed, and secure global networks. The company also provides co-existence and migration services, secure and remote access for business applications and tools to deploy and manage intranets, directories and messaging. Its majority-owned Internet subsidiary, Switchboard, Inc. (http://www.switchboard.com) is the #1 on-line white and yellow pages directory. Banyan, VINES, StreetTalk and BeyondMail are registered trademarks of Banyan Systems Incorporated. StreetTalk is a product of Banyan Systems Incorporated and not a product of McCarthy, Crisanti & Maffei, Inc. |
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