Concord and Empire Complete Merger.MARLBORO Marlboro or Marlborough (märl`bərō), city (1990 pop. 31,813), Middlesex co., E Mass.; settled on the site of a Native American village 1657, inc. as a city 1890. , Mass.--(BUSINESS WIRE)--Oct. 29, 1999-- Concord Communications, Inc. (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 :CCRD CCRD Colorado Civil Rights Division CCRD Clear Certainty Rundown CCRD Center for Community Research and Development CCRD Climate Change Research Division (US DoE) CCRD Certified Chiropractic Rehabilitation Doctor ) today announced the completion of its merger with privately-held Empire Technologies. Concord is the market leader in next-generation performance management solutions that ensure effective e-business performance for service providers and enterprise organizations. Empire is a leading provider of proactive systems and application management solutions. Under terms of the transaction announced on October 19, 1999, Concord Communications completed its merger with Empire Technologies and issued 815,248 shares of Concord's common stock in the merger. The transaction is being accounted for as a pooling of interest Noun 1. pooling of interest - an accounting method used in the merging of companies; the balance sheets are added together item by item; this method is tax-free . As a result of the merger, Concord will recognize a one-time charge of approximately $1 million in transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). and a final expense for an assumed acquisition-related compensation liability of $1.3m, for the quarter ending December 1999. About Empire Technologies Empire Technologies, a Concord Communications Company Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. , is a leading provider of solutions for proactive self-management of UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). and Windows NT (Windows New Technology) A 32-bit operating system from Microsoft for Intel x86 CPUs. NT is the core technology in Windows 2000 and Windows XP (see Windows). Available in separate client and server versions, it includes built-in networking and preemptive multitasking. systems, as well as mission-critical applications. Established in 1992, Empire has a worldwide installed customer base including large financial institutions, utility companies, government agencies, telecommunication companies and service providers. Empire is headquartered in Atlanta, Georgia. For more information on the company and its products, please visit Empire's World Wide Web site at www.empire.com. About Concord Communications Concord Communications, Inc. (NASDAQ:CCRD) is the market leader in next-generation performance management solutions. With the recent addition of Empire Technologies, Concord offers the only integrated performance management solution spanning systems, applications, services and networks. Only by successfully managing performance across all of these key areas can organizations truly ensure effective e-business. This end-to-end performance view provides the critical insights needed to power day-to-day business and e-commerce operations for some of today's most successful corporations and service providers worldwide. Concord is headquartered in Marlboro, Massachusetts. For more information on Concord, call 1-800-851-8725 or visit Concord's World Wide Web site at http://www.concord.com. Any statements contained in this press release that do not describe historical facts may constitute forward looking statements as that term is defined in 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. Any forward looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include the following: Fluctuations in customer demand; the Company's ability to manage its growth; the risk of new product introductions and customer acceptance of new products; the rapid technological change which characterizes the Company's markets; the risks associated with competition; the risks associated with international sales as the Company expands its markets; and the ability of the Company to compete successfully in the future, risks associated with the Year 2000 problem Year 2000 problem, Y2K problem, or millennium bug, in computer science, a design flaw in the hardware or software of a computer that caused erroneous results when working with dates beyond Dec. 31, 1999. and the potential delay of customer purchasing decisions, as well as other risks identified in the Company's Securities and Exchange Commission filings, including but not limited to those appearing under the caption "Risk Factors" in the Company's year-end December 31, 1998 10-K filed with the SEC on March 25, 1999. |
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