Cenetec Announces Accrisoft, Web Software Developer, as Latest Client in Technology Acceleration Program; InternetCoast Founders Team in New Venture.

Business Editor

BOCA RATON, Fla.--(BUSINESS WIRE)--March 5, 2001

Scott H. Adams and Jeff Kline, two founders of the InternetCoast initiative, today announced plans to team their companies in a new venture. Accrisoft, a software developer created by Kline, has entered the acceleration program at Cenetec, the technology accelerator company headed by Adams and co-founder William D. Hager.

Accrisoft enables businesses and organizations to rapidly and cost effectively extend their business processes to the Internet. The company's feature-rich suite of turnkey, web-based software applications is designed to enhance profitability, productivity and communication. The new Cenetec portfolio company is an extension of Accris Corporation, the three-year-old Boca Raton-based provider of web site design, e-commerce, hardware deployment, training, and consulting services. Under Kline's leadership, Accris has played a pivotal role in the formation and growth of the InternetCoast.

"Accrisoft has great potential to serve businesses and member-based organizations. Accrisoft's proven software solutions and Jeff Kline's visionary ability to build Internet-focused businesses give it a competitive edge," said Adams. "Working together to move this company rapidly to market also furthers our shared commitment to growing technology businesses along the InternetCoast."

Kline noted his decision to grow Accrisoft as a Cenetec portfolio company, rather than on his own, focused on Cenetec's "human capital." "We had already made the investment and developed a profitable model. Funding and facilities were not issues," Kline said. "Yet the best-in-class talent Scott has assembled lets us dramatically speed growth and bring new dimension to our technology. In the first weeks with Cenetec, we've more than doubled our development pace."

Accrisoft's software applications provide customized information and e-commerce functionality with the flexibility to suit many vertical markets. The scaleable, turnkey e-business solution creates web presence and streamlines clients' business processes to generate additional revenue. The Boca Raton Chamber of Commerce, for example, increased website traffic by 64 percent in the first month, automating online event registration and access to Chamber resources.

Accrisoft plans to market its software suite to businesses, professional organizations and associations. Markets include law firms, accounting firms, chambers of commerce, and other membership groups, which number in the tens of thousands in the U.S. alone.

The market for web-enabling products is growing rapidly. Kline said companies are viewing Internet technology as a long-term investment, and moving ahead despite current economic conditions. The market for mid-size business spending on Internet-specific strategies and activities will be as much as $25 billion by 2004, according to Cahners/In-Stat. An InternetWeek survey of 250 IT and e-business executives showed three-quarters of them increasing spending on Internet technology in 2001, with an average hike of 40 percent.

Accrisoft will be headquartered within Cenetec's Boca Raton facilities.

About Cenetec

Cenetec is the technology accelerator company led by accomplished Internet entrepreneurs. It infuses early stage and fast-growing companies with the strategic guidance, technology and business expertise and resources, facilities and capital access to rapidly accelerate high growth potential products and services to market. Cenetec provides its services in exchange for equity.

The company is developing a series of technology accelerators. Its first accelerator, located along the InternetCoast in Boca Raton, serves the South Florida region. Cenetec also maintains a Miami business office, targeting emerging technology companies in the Latin American market. It will soon open its latest accelerator in Gainesville, in association with the University of Florida, to serve the north and central regions of the state.

Cenetec is headquartered at 4950 Communication Avenue, Suite 900, Boca Raton, Florida 33431, 561-981-0200. More information is available at http://www.cenetec.com.