Macrovision Completes Acquisition of GLOBEtrotter Software, Leading Supplier of Electronic Software Licensing Technologies.
Business Editors/High-Tech Writers
SUNNYVALE, Calif.--(BUSINESS WIRE)--Sept. 1, 2000
Macrovision Corporation (Nasdaq:MVSN MVSN Milizia Volontaria per la Sicurezza Nazionale (Italy) ), the leading provider of B2C (Business to Consumer) Refers to a business communicating with or selling to an individual rather than a company. See B2B. (business-to-consumer) video, multimedia and software copy protection technologies to the motion picture and software industries, announced today that it has completed its previously announced acquisition of GLOBEtrotter Software, Inc. of San Jose San Jose, city, United States
San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif. GLOBEtrotter is now a wholly owned subsidiary Wholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
In other words, the parent company owns the company outright and there are no minority owners. of Macrovision.
GLOBEtrotter is a leading supplier of B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G.
B2B - business to business (business-to-business) electronic licensing and license management technology to software vendors and a leading supplier of software asset management products to large corporate users worldwide.
Macrovision acquired all of the outstanding shares of GLOBEtrotter for 8,944,548 shares of Macrovision common stock and assumed all vested and unvested GLOBEtrotter stock options in exchange for options to purchase 821,852 shares of Macrovision common stock. Macrovision anticipates the transaction will be accounted for as a "pooling of interests Pooling of Interests
An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together.
The opposite of pooling of interests is the purchase acquisition method. ."
"We're pleased to have completed this strategic merger, which positions Macrovision as the leading provider worldwide of copy protection and digital rights management technologies applicable to both electronically delivered and physical media," said John Ryan John Ryan can refer to:
"The combined strengths of Macrovision and GLOBEtrotter will allow us to provide a wide range of security, e-commerce, and digital rights management technologies to the software, video, music, and data publishing industries," added Matt Christiano, GLOBEtrotter's founder. "All of us at GLOBEtrotter are excited about working with the Macrovision team to accelerate adoption of these technologies on a worldwide basis."
With the completion of the acquisition, Christiano will become executive vice president of Macrovision. He will also serve as executive vice president and general manager of GLOBEtrotter, focusing on the product development, engineering and technical support functions. Mark Belinsky, heretofore Macrovision's senior vice president of Business Development, will join the GLOBEtrotter executive team and serve as senior vice president and general manager, focusing on the sales, marketing, financial, and administrative sides of the business. Both executives will report to Bill Krepick, Macrovision's president/COO.
Macrovision Corporation develops and markets content copy protection and rights management technologies to prevent the unauthorized duplication duplication /du·pli·ca·tion/ (doo-pli-ka´shun)
1. the act or process of doubling, or the state of being doubled.
2. , reception or use of video and audio programs and computer software, and to enable B2C electronic software distribution. Macrovision provides its products and services primarily to the home video, consumer multimedia software, digital pay-per-view, cable, satellite and video security markets. Macrovision has its headquarters in Sunnyvale with subsidiaries in London and Tokyo. For more information on Macrovision and its products, see http://www.macrovision.com.
GLOBEtrotter Software, Inc. of San Jose produces the world's leading products for independent software vendors (ISVs) to electronically license their software and software asset management tools for large software customers. For more information on GLOBEtrotter and its products, see http://www.globetrotter.com.
All statements contained herein, including the quotations attributed to Ryan and Christiano, as well as oral statements that may be made by Macrovision or by officers, directors or employees of the Company acting on the Company's behalf, that are not statements of historical fact, including statements that use the words "believes," "anticipates," "estimates," "expects" or "intends" or similar words that describe Macrovision's or management's future plans, objectives, or goals, are "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. " and are made pursuant to the Safe-Harbor 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. These forward-looking statements include statements regarding the completion and financial effects of the acquisition of GLOBEtrotter, the business strategies and product plans of both companies, the advantages of the acquisition for both companies, the features and benefits of the products of both companies, and the cooperative efforts to be undertaken by both companies.
Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to be materially different from historical results and/or from any future results or outcomes expressed or implied by such forward-looking statements. Among the important factors that could cause results to differ materially are the following: the ability of Macrovision to integrate the operations and administration of the companies effectively and efficiently; the ability of the companies to achieve operational and other business synergies; the risks associated with the integration of geographically dispersed dis·perse
v. dis·persed, dis·pers·ing, dis·pers·es
a. To drive off or scatter in different directions: The police dispersed the crowd.
b. operations; the effect of the acquisition on, and actions of, suppliers, customers and other business partners of the companies; and the costs and business disruption associated with integration efforts. Other factors include those outlined in the Company's 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.
See 10-K. for 1999, its Quarterly Reports on Form 10-Q Form 10-Q
See 10-Q. , and its Form 8-K Form 8-K
The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock.
See 8-K. with respect to this transaction, all as filed with the Securities and Exchange Commission. These factors may not constitute all factors that could cause actual results to differ materially from those discussed in any forward-looking statement. Macrovision and GLOBEtrotter operate in a continually changing business environment and new factors emerge from time to time. Macrovision cannot predict such factors nor can it assess the impact, if any, of such factors on Macrovision or its results. Accordingly, forward-looking statements should not be relied upon as a prediction of actual results. Macrovision is not obligated ob·li·gate
tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates
1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force.
2. To cause to be grateful or indebted; oblige. to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Note to Editors: Additional background information on Macrovision Corporation can be obtained from our Web Site at www.macrovision.com.