Proginet and SureFire Commerce Enter Agreement; Agreement Includes Transfer of Software and Consulting Services.Business Editors & High-Tech Writers GARDEN CITY, NY/MONTREAL, PQ--(BUSINESS WIRE)--Nov. 13, 2000 Proginet Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :PRGF; CDNX CDNX See Canadian Venture Exchange (CDNX). :PRF PRF abbr. prolactin-releasing factor .U) and SureFire Commerce Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : MTP) today announced they have signed an agreement whereby Proginet Corporation will acquire SureFire's TCS(TM) and TempusLink(TM) secure file transfer software product lines Software Product Lines, or software product line development, refers to engineering methods, tools and techniques for creating a collection of similar software systems from a shared set of software assets using a common means of production. as well as consulting services related to e-commerce strategy. The transaction was for cash. Terms of the agreement were not disclosed. The agreement is the result of a change in business focus by SureFire Commerce in December 1999, according to Mark Krakower, SureFire Commerce Senior Vice-President, Corporate Affairs and Chief Financial Officer. Proginet President and CEO Kevin M. Kelly stated, "The multiple benefits of this transaction to Proginet include adding a substantial customer base with a recurring revenue stream, continuing our track record of acquiring competing software, and attaining a dominant position in the managed file transfer A managed file transfer (MFT) application is a software product that provides organizations with a holistic solution to their file transfer needs. The responsibilities of a MFT suite include securing the data by encrypting the transmission channel or the data itself, managing marketplace. All of this translates to a favorable impact on Proginet's profitability going forward. The acquisition also places Proginet in front of a more diversified group of enterprises to which we can offer our superior technologies in password management, Internet file transfer, and our recently announced wireless information transfer technology." Proginet will provide ongoing technical support to over 175 SureFire TCS and TempusLink customers in the U.S., Canada, South America and Europe. Proginet plans to market the software worldwide through its direct sales force as well as its distributors located in 25 countries. About Proginet Corporation (www.proginet.com) Proginet Corporation develops state-of-the-art software applications that integrate multiple computing environments for e-businesses running OS/390 from IBM (NYSE NYSE See: New York Stock Exchange :IBM), Windows from Microsoft (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 :MSFT) and 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). platforms from Sun Microsystems (NASDAQ:SUNW), Hewlett-Packard (NYSE:HWP) and others. Proginet software products address the systems management software space, including enterprise managed data transfer, Internet managed data transfer and password management. Proginet CyberFusion(TM) software allows information to be used anywhere, anytime and in any way. Proginet SecurPass(R) software streamlines enterprise password management and cuts help desk costs. Many of the world's largest corporations and government agencies use industry-leading software from Proginet. About SureFire Commerce (www.surefirecommerce.com) SureFire Commerce Inc. (TSE: MTP) is a global business-to-business provider of proprietary e-commerce solutions in the areas of merchant enabling and secure credit card transaction processing. SureFire Commerce is an international provider of secure online transaction processing See transaction processing and OLCP. services, targeting to process in excess of $1 billion in transactions this fiscal year. SureFire Commerce's merchant enabling solutions provide telecommunications companies, Internet service providers, high traffic portals and financial institutions the ability to generate recurrent revenue streams for themselves and their small- and medium-sized business customers. SureFire Commerce is headquartered in Montreal, with offices in Ottawa and Boston. For further information visit www.proginet.com or www.surefirecommerce.com or contact: (c) 2000 Proginet Corporation. Proginet, CyberFusion and SecurPass are trademarks of Proginet Corporation. All other brands or product names are trademarks or registered trademarks of their respective holders. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion