Raining Data Corporation Announces $8.2 Million Equity Investment.Business Editors/High-Tech Writers IRVINE, Calif.--(BUSINESS WIRE)--Dec. 6, 2000 Raining Data Corporation (Nasdaq:RDTA RDTA Remote Digital Test Access (Hekimian) RDTA Rancho Dominguez Townhomes Association (Yorba Linda, California) ), formerly known as Omnis Technology Corporation, which last week concluded a merger with the Pick Systems corporate group, announced today the closing of an $8.2 million equity investment. The financing includes a new $4.1 million cash infusion from Astoria Capital Partners L.P. In addition, Astoria Capital Partners has converted to equity a separate $4.1 million note for funds advanced to Pick prior to the merger. About Raining Data On December 1, 2000, 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 Omnis Technology Corporation merged with PickAx, Inc., making Pick and its corporate group wholly owned subsidiaries of Omnis. The combined company, which changed its name to Raining Data Corporation, is headquartered in Irvine, Calif. With over 150 employees in five countries, Raining Data's pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma combined sales for the fiscal year ended March 31, 2000, exceeded $23 million. Omnis Studio An application development environment for Windows, Linux, Solaris and Mac from Raining Data Corporation, Irvine, CA (www.rainingdata.com). It includes its own database manager for local and laptop use, visual programming tools, and a 4GL. (R) is a powerful, cross-platform, object-oriented rapid application development (RAD) tool that is ideally suited for developing sophisticated thick or thin client-based applications. PICK Systems created the first multidimensional database See OLAP. management system, now called D3(R), which continues to be the choice for thousands of application developers worldwide. Together as Raining Data, the company now offers a comprehensive suite of cost effective software infrastructure solutions that developers can leverage to create highly scalable, enterprise-level Web-enabled applications. The new product platform is designed to meet the needs of Raining Data's large combined base of existing customers as well as new e-commerce software developers. Raining Data has access to more than 1,500 Value Added Resellers See VAR. (company) value added reseller - (VAR, or "value added retailer") A company which sells something (e.g. computers) made by another company (an OEM) with extra components added (e.g. specialist software). (VARs) with comprehensive vertical market solutions installed at over 200,000 sites worldwide. Leveraging the company's advanced D3 multidimensional database or any of the contemporary 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. databases such as Oracle(R), Microsoft SQL Server A relational DBMS from Microsoft that is a major component of the Windows Server System. It is Microsoft's high-end client/server database and is closely integrated with Microsoft Visual Studio and the Microsoft Office System. , or IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) DB2, Raining Data developers can now take full advantage of Omnis Studio's cross-platform, database independent RAD tools Any program or utility that speeds up the development and programming of an application. Visual programming tools are widely used to quickly develop graphical front ends. . With client-side applications automatically deployable to thick, thin, or ultra thin environments, Raining Data is able to provide customers with a powerful range of low cost, quick-to-market alternatives. PLEASE NOTE: In this news release, statements that are not historical facts, including but not limited to statements (a) that include the words "believes," "expects," "anticipates," "estimates" or words of similar importance or meaning; (b) that describe any of the Raining Data's (the "Company") or management's plans, objectives or goals for future operations and products, or (c) that concern the characteristics and growth of the Company's markets or customers or products or the expected liquidity and capital resources of the Company, 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. that are inherently subject to numerous risks and uncertainties. There can be no assurance that the results described in such forward-looking statements have been or will be realized. The principal risk factors that may cause actual results to differ materially from those expressed in forward-looking statements in this news release are described in various reports and documents filed by Raining Data Corporation, formerly known as Omnis Technology Corporation, with the U.S. Securities and Exchange Commission, including but not limited to the Annual Report of the Company on Form 10-KSB/A for the last fiscal year of the Company. The Company disclaims any responsibility to update or revise any forward-looking statement provided in this news release. Note to Editors: PICK Systems and D3 are registered trademarks of PICK Systems, Inc. Omnis is a registered trademark of Omnis Software Limited, a subsidiary of Raining Data Corporation. Omnis Studio and Omnis 7 are trademarks of Raining Data Corporation. All other products or service names mentioned herein are trademarks of their respective owners. |
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