Boca Research Sells Manufacturing Facilities to Boundless Manufacturing Services; Enables Increased Focus on Software and Systems Solutions-Based Business.Business Editors and High-Tech Writers BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.--(BUSINESS WIRE)--January 25, 2000 Boca BOCA Building Officials and Code Administrators International, Inc. BOCA Bird Observers Club of Australia BOCA Business Object Component Architecture BOCA Borland Object Component Architecture (Borland) Research, Inc.(R) (Nasdaq:BOCI BOCI Bank of China International BOCI Buckner Orphan Care International ) today announced, as part of the Company's transition to a software and systems solutions-based enterprise, that it has entered into a definitive agreement for the sale of certain assets relative to its manufacturing facilities to Boundless Technologies, Inc., a subsidiary of Boundless Corporation (AMEX AMEX See: American Stock Exchange :BND BND In currencies, this is the abbreviation for the Brunei Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ), a global technology company. Under the terms of the agreement, Boundless will assume the lease of Boca Research's current manufacturing facility and will staff the facility primarily from Boca Research's current team of manufacturing-based employees. Boca Research has entered into a contract manufacturing agreement with Boundless Manufacturing Services, Inc., a second Boundless subsidiary, to outsource its manufacturing. The contract manufacturing agreement includes a specified minimum level of contract manufacturing services for the first 12-month period. Additional details were not disclosed. The definitive agreement for the sale is subject to due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and other customary conditions of closing. The sale is expected to close in early March 2000. Boca Research intends to continue to develop, market, and support its current Boca Global products, in addition to its new focus on providing Internet-based software and services. Boca Research's change in emphasis, away from being primarily a data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. manufacturer, and under-utilization of the plant were the primary factors in the decision to outsource its manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. . By outsourcing its manufacturing, Boca Research expects to reduce expenses and better focus its resources and management efforts. Boca Research intends to consolidate its corporate headquarters into an adjacent building, currently leased by the Company. The Company believes that being in close proximity to the Boundless plant and having familiarity with their manufacturing employees should be beneficial in its transition to outsourcing the manufacturing of its hardware products. As a result of this transaction, the Company expects to achieve more favorable manufacturing costs, while maintaining the same quality standards that exist today. &uot;The sale of manufacturing to Boundless will insure us of world class competitive volume manufacturing cost and quality,&uot; stated Cecil M. Dye, acting president, Boca Global, Inc., a subsidiary of Boca Research. &uot;We truly believe this transaction with Boundless will be a win-win situation for both companies.&uot; &uot;Many technology equipment companies are looking to outsource manufacturing in order to better focus on their key businesses, while meeting customer demands for short production lead-times,&uot; said J. Gerald Combs Gerald Combs, a computer science graduate of the University of Missouri-Kansas City, is the creator and lead developer of Ethereal, now Wireshark, which was first released in 1998. , chairman of Boundless Corporation. &uot;Boundless has the systems, processes, and expertise to operate this facility successfully and add new revenues from new customers. The purchase of Boca Research's manufacturing facilities gives Boundless added manufacturing expertise through the addition of the Boca team, and added manufacturing capabilities in a second geographical location. We look forward to a future relationship with Boca Research, providing them cost-effective and timely production capabilities.&uot; Portions of this news release contain 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. within the meaning of 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. Readers are cautioned that all forward-looking statements involve risks and uncertainties that could adversely impact operating results. Such risks and uncertainties include, but are not limited to, those related to the closing of the sale of Boca Research's manufacturing assets to Boundless, decisions regarding both companies' strategic directions, general business conditions, as well as the loss of one or more customers. These and other risks are detailed in Boca Research'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 year ended December 31, 1998, as well as both companies' periodic filings with the Securities and Exchange Commission (SEC). Such risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements included in this release. Boca Research Corporate Information Founded in 1985, Boca Research is in the process of transitioning to become a leading software and systems solutions-based enterprise enabling communications, as well as access to applications and information via the Internet or client/server networking. Boca Research is a U.S. corporation headquartered in Boca Raton, Florida Boca Raton ("bōkə rə-tōn") is a city in Palm Beach County, Florida incorporated in May 1925. As of the 2000 census, the city had a total population of 74,764; the 2006 population recorded by the U.S. Census Bureau was 86,396. with international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. and ventures worldwide. The Boca Global, Inc. subsidiary markets data communications products, as well as thin client/server computing devices and information appliances. The AppsCom(TM), Inc. subsidiary was created to focus on the applications rental market, delivered via a client/server-based network. Boca Research will also be providing a focused effort on their new emerging systems software and services business. Note to Editors: For copies of recent press releases from Boca Research via fax, call 800-331-1323. For product or company information via the Internet, visit our Web sites at http://www.bocaresearch.com, http://www.globalvillage.com, and http://www.bocavision.com. Boca Research Inc., Boca, and Global Village are registered trademarks, and AppsCom is a trademark of Boca Research, Inc. All other products and brand names are trademarks of their respective owners. |
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