Commtouch Sells Migration Services Subsidiary.Business Editors/High-Tech Writers MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Feb. 27, 2002 Commtouch Software Ltd. (Nasdaq:CTCH CTCH Common Traffic Channel ), a leading vendor of highly scalable messaging solutions to service providers, announced the sale of its migration service business, Wingra Technologies, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control to Wingra's current senior management. Commtouch purchased Wingra, Incorporated and Wingra Technologies, LLC in late 2000 to complement its hosted messaging services businesses. During the last few months, Commtouch has sold all of its hosted businesses. As such, it no longer has a compelling reason to own the migration company. This move is another step in pursuit of Commtouch's successful turnaround plan and reflects the company's shift in focus to its software business. The sale of Wingra is expected to further reduce Commtouch's operating losses operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. and reduce its net liabilities by approximately $0.7M in the First Quarter of 2002. The terms include mutual release of all liabilities, obligations and rights of the parties to the agreement. About Commtouch Commtouch Software Ltd. is the developer and provider of comprehensive and highly scalable messaging solutions through its Commtouch Messaging Platform (CMP CMP (cytidine monophosphate): see cytosine. (1) (CMP Media LLC, Manhasset, NY, www.cmp.com) Part of United Business Media, CMP is a leading integrated media company that offers a wide variety of publications and services in the information ) for service providers such as ISPs, ASPs, Data Centers, Telcos and Wireless Operators. The CMP offers service providers an opportunity to increase revenue from their business and residential subscribers utilizing CMP's advanced messaging services, which can be deployed and managed easily and quickly. The Company's core competencies A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. since 1999 (Nasdaq:CTCH). To learn how Commtouch solutions are designed to meet service providers' messaging and collaboration needs, visit our web site at http://www.commtouch.com. This press release contains 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. , including projections about our business, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. For example, statements in the future tense future tense n. A verb tense expressing future time. Noun 1. future tense - a verb tense that expresses actions or states in the future future , and statements including words such as "expect," "plan," "estimate," anticipate," or "believe" are forward-looking statements. These statements are based on information available to us at the time of the release; we assume no obligation to update any of them. The statements in this release are not guarantees of future performance and actual results could differ materially from our current expectations as a result of numerous factors, including business conditions and growth or deterioration de·te·ri·o·ra·tion n. The process or condition of becoming worse. in the Internet market, commerce and the general economy both domestic as well as international; fewer than expected new-partner relationships; competitive factors including pricing pressures; technological developments, and products offered by competitors; availability of qualified staff for expansion; and technological difficulties and resource constraints encountered in developing new products as well as those risks described in the Company's Annual Reports on Form 20-F and reports on Form 6-K, which are available through www.sec.gov. Note to Editors: MS-Exchange(R) is a registered trademark of Microsoft Corporation (company) Microsoft Corporation - The biggest supplier of operating systems and other software for IBM PC compatibles. Software products include MS-DOS, Microsoft Windows, Windows NT, Microsoft Access, LAN Manager, MS Client, SQL Server, Open Data Base Connectivity (ODBC), MS Mail, . Commtouch is a registered trademark of Commtouch Software Ltd. Terms and product names in this document may be trademarks of others. |
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