PLATINUM TO ACQUIRE ANSWER SYSTEMS; Help Desk Software Added To PLATINUM's Open Enterprise Systems Management Strategy.Oakbrook Terrace, Ill.--(BUSINESS WIRE)--April 5, 1995--PLATINUM technology, 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 : PLAT) today announced that it has agreed in principal to acquire Answer Systems, Inc., of San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. . Answer Systems is a leader in client/server help desk solutions. Answer System's flagship product, Apriori, is a support automation product that contains patented, award-winning Bubble-Up problem resolution technology. Apriori is used by 150 corporations worldwide to more effectively manage their support organizations and provide outstanding service quality. The Answer Systems acquisition is a key component of PLATINUM's plan to provide comprehensive, integrated management solutions for the Open Enterprise Environment (OEE OEE Overall Equipment Effectiveness OEE Office of Energy Efficiency (Canada) OEE Overall Equipment Efficiency OEE Office de l'Efficacité Énergétique (Office of Energy Efficiency - Canada) ) -- the networked computing environment that includes MVS-, UNIX- and Windows-based platforms and may also contain VMS (1) (Virtual Memory System) A multiuser, multitasking, virtual memory operating system for the VAX series from Digital. VMS applications run on any VAX from the MicroVAX to the largest unit. See OpenVMS. , AS400 and OS/2 systems. PLATINUM has agreed in principal to exchange approximately $38 million of PLATINUM stock for all of the outstanding shares of Answer Systems. Answer Systems will become 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 PLATINUM. The transaction is subject to the partners entering into definitive agreements and the satisfaction of conditions customary for transactions of this nature. It is expected that the acquisition will qualify as a tax free reorganization and 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. Notes: The opposite of pooling of interests is the purchase acquisition method. . "In a marketplace crowded with companies selling `me-too' products, Answer stands out as a leader in providing unique and proven technology for the enterprise support center," said Andrew J. Filipowski, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of PLATINUM technology, inc. "We believe that no other company in the client/server help desk market has demonstrated as much customer success and technology leadership as Answer. This acquisition provides another critical best-of-breed component in our enterprise systems management strategy." "This relationship is good news for Answer's customers who are looking to expand the scope of the help desk to real enterprise-wide support for both legacy and client/server technologies," said Brian Aspland, president of Answer Systems, Inc. "This is also exciting for our customers who want to integrate the help desk with critical business areas within the enterprise such as accounting, engineering, human resources, sales and marketing." Co-founder of Answer Systems, Louise Kirkbride said, "There is a perfect match between two companies. It is the realization of my vision for Answer's technology and the role it will play in the enterprise. Clearly, small contenders in the help desk market cannot deliver the kind of high quality, comprehensive solution set that PLATINUM can now provide. We hope this partnership will provide a fast road to success for corporations worldwide in reaping the benefits of enterprise computing." About Answer Systems Founded by Kirkbride and Rick Gifford and headquartered in San Jose, Calif., Answer Systems pioneered and now leads the market for client/server help desk solutions for the Corporate Answer Center. The company's Apriori family of support applications are the only products of their kind to deliver just-in-time (JIT) problem resolution--the key to high productivity and fast return on investment (ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). ) for support organizations facing today's fast-changing computer environments and expanding user base. Answer's customers use the product in hardware, software, and network support environments, as well as for more generalized business- process support. Answer customers include: AT&T, Barclays Bank, Cargill, Renault, France Telecom, Harvard University, Interleaf Desktop publishing software that was widely used for DOS, Windows 95/98, NT, and a variety of Unix-based computers from Interleaf, Inc., Waltham, MA. Interleaf's full-featured program supported a large number of document and image types, including its ability to handle extremely long , Hewlett Packard, Walgreens, Lehman Brothers and Prudential Securities. Recognized as a leader in the support automation business, Answer recently received the "Innovations in Service Award" from Service News for its industry leading problem resolution technology. In March, Apriori received the Editor's Choice Award from Call Center Magazine. Apriori was also recently added to the "A" List of outstanding products in the enterprise computing environment, compiled by Open Systems Advisors in conjunction with Open Computing Magazine and Business Week. Recent announcements from Answer include Hands Free Support, a leading edge self-service problem resolution technology using the Internet and World Wide Web, and the use of multimedia for advanced problem solving. Answer and AT&T recently announced a partnership for support of the PassageWay computer-telephony integration (CTI (Computer Telephone Integration) Combining data with voice systems in order to enhance telephone services. For example, automatic number identification (ANI) allows a caller's records to be retrieved from the database while the call is routed to the appropriate party. ) platform. PLATINUM Acquisition Strategy The acquisition of Answer is an integral component of PLATINUM's open enterprise systems management (OESM OESM Open Enterprise Systems Management (Platnum Technology Inc.) ) strategy. OESM ties together critical management functions of both 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. and client/server systems. PLATINUM will help information systems executives manage their open enterprise environments by linking the data management, network management, job management, production management, database administration, back-up and recovery, security, program management, help desk and transaction management functions. Recently, the company announced plans to merge with Trinzic Corporation, a major developer of application development, data warehousing, and client/server tools and services. The company also recently completed the acquisitions of SQL SQL in full Structured Query Language. Computer programming language used for retrieving records or parts of records in databases and performing various calculations before displaying the results. Software Corporation, a provider of Windows-based development tools for managing multiple relational databases; BrownStone brownstone, red to brown variety of sandstone. Its unusual color is caused in some instances by the presence of red iron oxide which acts as a cement, binding the sand grains together. Solutions, Inc., a vendor of client/server repository technology; Viatech Development, a provider of electronic software distribution tools; and Autosystems Corporation, a 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). job management tool supplier. PLATINUM's OESM plans call for continued internal development of a host of new products for multiple computing platforms. PLATINUM also plans to form other alliances to help broaden its range of OESM solutions. CONTACT: PLATINUM technology, inc., Oakbrook Terrace Michelle Edelman, 708/620-5116 ext.1730 or Copithorne & Bellows David Kitchen/Wendy DeFeudis, 617/252-0606 |
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