Engage And JDA Complete Acquisition.Business Editors ANDOVER, Mass.--(BUSINESS WIRE)--Aug. 5, 2003 Engage, Inc. (OCTCBB: ENGA) announced that on August 4, 2003 JDA Software JDA Software Group, Inc. is a demand and supply chain partner to the world’s leading retailers, manufacturers and suppliers and is located in Scottsdale, AZ. History Jim Armstrong, co-founded the U.S.-based JDA Software in 1985. Group, Inc. (Nasdaq: JDAS) completed the acquisition of substantially all of Engage's remaining assets and operations for $3.0 million in cash plus the assumption of liabilities of approximately $850,000. In addition, JDA JDA Japan Defense Agency JDA Joint Development Agreement JDA Janne da Arc (band) JDA Joint Duty Assignment JDA Jerusalem Development Authority JDA Jovian Detention Authority (gaming) will assume certain of Engage's long-term operating agreements. Engage anticipates that the proceeds of the foregoing sale will be used to pay the claims of certain creditors in accordance with the provisions of the U.S Bankruptcy Code. Engage does not believe that it is likely that there will be any recovery for the Company's stockholders. On June 19, 2003, Engage, and five of its United States subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. for the District of Massachusetts (Western Division). On July, 23, 2003, Engage conducted an auction with respect to substantially all of its domestic assets pursuant to procedures approved by the U.S. Bankruptcy Court. At the conclusion of the auction process, the Court approved the sale of substantially all of Engage's assets to JDA. Statement Under 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 Statements in this release may be forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risks and uncertainties that may affect the company's business and prospects and cause actual results to differ materially from these forward-looking statements. Among the factors and risks that may affect the company's future results are the ability of the Company to successfully; conclude a financial and operational reorganization of the company in the Chapter 11 process; and the Company's ability to manage other uncertainties and risk factors, such as those described from time to time in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended July 31, 2002 and Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the period ended January 31, 2003. MLS See multilevel security. 1037803v1 |
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