Platinum Equity Signs Definitive Agreement to Acquire Centura Software's E-Business Division.Business Editors LOS ANGELES--(BUSINESS WIRE)--Jan. 18, 2001 $20 Million Acquisition of World-Renowned Web Application Development Business Will Fuel Platinum's Portfolio of Leading Technology Companies Platinum Equity Platinum Equity is an American information technology and private equity firm. It was founded by billionaire Tom Gores in 1995 and is headquartered in Beverly Hills, California. , a leader in acquiring and growing technology companies, announces a definitive agreement has been signed with Centura(R) Software Corporation (Nasdaq:CNTR CNTR Center CNTR Container CNTR Control CNTR Counter ) to acquire its e-Business products and services division, in a deal worth approximately $20 million. The division is being sold in order to facilitate a shift in Centura's strategic focus into the mobile, wireless and embedded markets. Platinum's strategy in acquiring the enterprise level application development business is to create a new entity operating under a name to be announced To be announced (TBA) A contract for the purchase or sale of an MBS to be delivered at an agreed-upon future date but does not include a specified pool number and number of pools or precise amount to be delivered. within the next 30 days. The division has approximately 75 employees operating in 5 offices worldwide. The acquisition is expected to close in February 2001. The e-Business division features principal products including SQLBase and Centura Team Developer See Team Developer. (CTD CTD 1 Connective tissue disease, see there 2 Cumulative trauma disorder, see there ) 2000. SQLBase is the only fully secure relational database in the market, with over 1,000,000 copies in use throughout the world. CTD 2000 is the premier development environment for building strategic, e-Business and mobile computing systems. The division distributes through direct and indirect sales channels to customers including SAP, HP, Fujitsu, Sattel Technologies, Nortel, Samsung, 3COM (1) (Computer Output Microfilm) Creating microfilm or microfiche from the computer. A COM machine receives print-image output from the computer either online or via tape or disk and creates a film image of each page. , Cam Data, ARMUS, Quality 4 and ETS ETS Educational Testing Service (nonprofit private educational testing and measurement organization) ETS Emergency Telecommunications Service ETS Electronic Trading System ETS Engineering (&) Technical Services . "We are excited to acquire Centura's client/server software business," said Tom T. Gores, 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 Equity. "The Centura products and services are assets that we're eager to work with. From building on the blue chip customer base to expanding the services, tools and operations, we're committed to leading Centura through an intense period of growth and revitalization." The Company will continue to be based in Redwood Shores, California Redwood Shores is an upscale and desirable [1] waterfront neighborhood on the San Francisco Peninsula in California. It is located on the eastern edge of Belmont, but is actually part of incorporated Redwood City. and Platinum will operate it as a stand-alone entity. Platinum Equity acquired five companies in the fourth quarter of 2000, fueling its growth and reputation as a leading mergers and acquisitions firm in the US. The five companies include Billing Concepts, Aptis, Operator Service Company, Lanier Healthcare and Infocus Employee Services. Platinum Equity Platinum Equity (www.peh.com), based in Los Angeles, has been recognized as one of the largest and fastest growing privately held IT companies in the United States by both Forbes and Business Week magazines. The company has distinguished itself as a billion-dollar investment corporation that specializes in acquiring and operating mission-critical technology organizations and technology-enabled service companies throughout the world. Platinum currently owns 19 technology-driven corporations, occupies 60 office locations in 11 countries and features a workforce of 10,000 employees, an established infrastructure in more than 100 countries and offices in Europe, Asia and South America serving tens of thousands of customers located throughout the world. Centura Headquartered in Redwood Shores, Calif., Centura is the leading global provider of solutions that mobilize the enterprise. The company's suite of integrated mobile enterprise products enables secure, real-time business across an array of devices. Developers and IT decision makers worldwide have relied on Centura's rich and innovative technology offerings and its world-class professional services since 1984. The company integrates its solutions in various business systems worldwide, including healthcare, manufacturing, telecommunications and financial industries for customers such as ADP (1) (Automatic Data Processing) Synonymous with data processing (DP), electronic data processing (EDP) and information processing. (2) (Automatic Data Processing, Inc., Roseland, NJ, www.adp. , Merck, Xerox, Hewlett-Packard, Deutsche Bank and Southern Company. Centura has 19 offices worldwide, including locations in North America, Latin America, Asia/Pacific, Europe, the Middle East and Africa Europe, the Middle East and Africa, usually abbreviated to EMEA, is a regional designation used for government, marketing and business purposes. It is particularly common amongst North American based companies, who often divide their international operations into the . For more information about Centura, visit http://www.centurasoft.com. |
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