Computer Horizons' Princeton Softech Subsidiary Acquires Mainware.PRINCETON, N.J.--(BUSINESS WIRE)--March 3, 1998-- Acquisition Produces Comprehensive MVS (Multiple Virtual Storage) Introduced in 1974, the primary operating system used with IBM mainframes (the others are VM and DOS/VSE). MVS is a batch processing-oriented operating system that manages large amounts of memory and disk space. Date-Simulation Solution Princeton Softech, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Computer Horizons Corporation (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 : CHRZ), today announced it has completed the acquisition of Mainware Incorporated for approximately $3M payable in cash and notes. The alliance unites Mainware's HourGlass hourglass, glass instrument for measuring time, usually consisting of two bulbs united by a narrow neck. One bulb is filled with fine sand that runs through the neck into the other bulb in an hour's time. 2000(tm), the world's most widely installed system date simulator, with Princeton Softech's Ager 2000, the most sophisticated date aging product for the MVS environment, producing the most comprehensive date-simulation solution in the industry. Announcing the merger, Joe Allegra Al·leg·ra A trademark for the drug fexofenadine hydrochloride. fexofenadine hydrochloride Allegra, Telfast (UK) Pharmacologic class: Peripherally selective piperidine, selective histamine , President of Princeton Softech, said: "Combining our two companies reinforces Princeton Softech's position as a key Year 2000 testing tools vendor by greatly enhancing our clients' ability to simulate Year 2000 conditions for more effective testing. It significantly bolsters our commitment to Year 2000 projects and is another step in implementing Princeton Softech's strategy to deliver Year 2000 testing solutions that ensure complete, accurate and thorough results." The Gartner Group (company) Gartner Group - One of the biggest IT industry research firms. Address: Connecticut, USA. has recognized HourGlass 2000 as a best-in-breed system date/time simulation package. HourGlass 2000 is known for its reliability and its coverage of more environments and languages than any other clock simulator. "We now have a solution that enables companies to simulate the two key conditions of Year 2000 tests, the system clock and application data," explains Dave Craig, Vice President of Marketing, Princeton Softech. "This is critical as the deadline draws near. Ager 2000's unique semantic date aging facility creates meaningful test data containing dates after December 31, 1999. Combined with HourGlass 2000, which ages the system clock to future dates and times without requiring a separate machine environment, our clients will be able to simulate future conditions today, thereby reducing the risk of application failure in the Year 2000." "Princeton Softech has created a leadership position in the Year 2000 market by creating high quality products, providing support that exceeds clients' expectations, and pricing their products reasonably," said Gregory Nelson, President of Mainware. "HourGlass 2000 has garnered over fifty percent of the system date simulator market with over 600 active customers and hundreds more currently evaluating the product. We're pleased to join forces with Princeton Softech. Both companies have a passion for delivering high quality products and service. Together, we will lead the market with a comprehensive suite of testing tools." Founded in 1989, Princeton Softech (www.PrincetonSoftech.com), a wholly owned subsidiary of Computer Horizons Corporation, specializes in delivering data and program synchronization (1) See synchronous and synchronous transmission. (2) Ensuring that two sets of data are always the same. See data synchronization. (3) Keeping time-of-day clocks in two devices set to the same time. See NTP. solutions to IT professionals who develop and maintain critical business applications. Princeton Softech's software solutions, which make it easier to implement Year 2000 and Euro releases, are in use by over 850 companies in 21 countries. The company's development, support, marketing, and most of its US/Canadian sales staffs are located in Princeton, NJ. Eighteen independent distributors sell the company's products in Europe, Australia, Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. , Asia, Africa, and the Middle East. Computer Horizons Corp. (www.ComputerHorizons.com), founded in 1969, is a diversified information technology services company with 3,700 employees worldwide. Through its international network of 48 offices in the US, UK, Canada and India, it provides clients with resource augmentation and advanced technology solutions to business problems through applications development, client/server migration, network management, emerging technologies, and legacy systems maintenance, including its industry-leading solution to the millennium date-change problem, Signature 2000. E-mail address See Internet address. e-mail address - electronic mail address for more information is: information@chc.fabrik.com. This press release includes certain "forward-looking statements" for purposes of the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions 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 that involves risks and uncertainties that could cause actual results to differ materially. Such statements are based upon, among other things, assumptions made by, and information currently available to management, including management's own knowledge and assessment of the Company's industry and competition. CONTACT: David Craig David Craig may refer to:
Princeton Softech, Inc. Computer Horizons Corp. Voice: (800) 457-7060 Voice (800) 321-2421 Fax: (609) 497-0302 Fax: (973) 402-7988 info@princetonsoftech.com Information@chc.fabrik.com Maureen Miller Total Marketing Concepts, Inc. Voice: (732) 747-5786 Fax: (732) 576-8768 MaureenMiller@compuserve.com |
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