Concurrent Computer Corporation and Harris Computer Systems Corporation Announce Shareholder Approval of Agreement to Combine Real-time Computer Businesses.OCEANPORT, N.J./FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--June 27, 1996--Concurrent Computer 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 :CCUR CCUR Center for Crops Utilization Research ) and Harris Computer Systems Corporation (NASDAQ:NHWK) Thursday jointly announced that shareholders of both companies have approved Concurrent's purchase of Harris Computer Systems' real-time computer business. In connection with the transaction, Concurrent will acquire the assets of, and assume certain liabilities relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc , Harris Computer's real-time computer business together with 683,178 newly issued shares of common stock of Harris Computer Systems in exchange for 10,000,000 of common stock of Concurrent Computer and up to $8,200,000 in liquidation preference(subject to adjustment) of Concurrent preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . The closing of the sale of the real-time computer business is expected to occur today. For more than two decades these two companies have been recognized leaders in real-time computing “Realtime” redirects here. For other uses, see Realtime (disambiguation). In computer science, real-time computing (RToC) is the study of hardware and software systems which are subject to a "real-time constraint"—i.e. technology. As a result of this transaction, the companies will combine to create a world leader in the real-time computer market with extensive experience in solving real-time computing problems. Each company has developed unique advantages that will now be available to their combined customers, providing the operations with greater depth to meet a broader range of application needs. Market focus for the newly combined company will be in the areas of simulation; data acquisition; instrumentation and process control; video-on-demand and telecommunications. Upon closing, Concurrent's John Stihl will serve as Chairman of the Board and Harris Computer's Corky cork·y adj. cork·i·er, cork·i·est 1. Of or resembling cork. 2. Informal Lively; buoyant. cork Siegel will serve as President and Chief Executive Officer for Concurrent Computer Corporation  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . . Principal executive offices will relocate to the Fort Lauderdale Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. area. Robert L. Carberry has been appointed Chairman, President and Chief Executive Officer for Harris Computer Systems. Harris Computer Systems, effective immediately, will change its name to CyberGuard Corporation and will focus on network security products. Concurrent Computer Corporation is a leading supplier of networked and distributed, high-performance, real-time, fault- tolerant computing systems that require microsecond One millionth of a second. See space/time and ohnosecond. (unit) microsecond - One millionth (10^-6) of a second. response time. The company provides real-time solutions in simulation, weather, wagering and gaming, measurement and control, financial services, insurance services and transaction processing, paging systems, transportation control systems and multimedia. Products are designed, manufactured and distributed directly from the company s 280,000 square-foot facility in Florida. The company provides sales and support worldwide from offices throughout North America, Europe, and Asia, as well as through authorized distributors. CyberGuard Corporation, headquartered in Fort Lauderdale, develops commercial network security products designed to protect data on computer networks worldwide from access by unauthorized users. CyberGuard targets organizations in industries such as finance, healthcare, communication, education, manufacturing and government that require a proven security solution. The Company's CyberGuard Firewall has an operating system and networking product that have been tested and certified by the National Computer Security Center (NCSC (National Computer Security Center) The arm of the U.S. National Security Agency that defines criteria for trusted computer products, which are embodied in the Orange Book and Red Book. ) at the B1 level of trust and by the National Computer Security Association (NCSA (1) (National Center for Supercomputing Applications, Urbana-Champaign, IL, www.ncsa.uiuc.edu) A high-performance computing facility located at the University of Illinois at Urbana-Champaign. ). CyberGuard Corporation is a publicly held company and traded on the Nasdaq National Market System under the symbol 'CYBG.' Product and security information can be accessed via the Company's World Wide Web site at http://www.hcsc.com. CyberGuard Corporation's new web site will be launched later this week at http://www.cyberguardcorp.com. -0- NOTE TO EDITORS: In the World Wide Web address noted in this news release, there is a double slash between http: and www.hcsc.com and between http: and www.cyberguardcorp.com. These symbols may not appear properly in some systems. CONTACT: Concurrent Computer Corporation Analyst/Investor Contact: Beth Alonzo, 954/973-5100 or CyberGuard Corporation Analyst/Investor Contact: Lisa Thornhill, 954/977-561 |
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