SilverStream eXtend Gains Momentum With Series of Customer Wins in Q1.Business/Technology Editors BILLERICA, Mass.--(BUSINESS WIRE)--Feb. 20, 2002 SilverStream Software, Inc. (Nasdaq: SSSW) today announced its SilverStream eXtend(TM) product line, which completed shipping in mid-December 2001, has already been selected by a number of new and existing customers in the first quarter of 2002. These include leading companies such as Express Scripts and government agencies such as the State of Ohio Department of Health. SilverStream eXtend products continue to be implemented worldwide because they provide organizations with the ability to quickly and flexibly integrate existing enterprise systems using Web services (1) Loosely, any online service delivered over the Web. Such usage appears in articles from non-technical sources, but not in IT-oriented publications, because definition #2 below describes the correct use of the term. , and to rapidly deliver a relevant view of these powerful services to users on any Internet-enabled device. A number of leading organizations, including the Arbella Insurance Group (US) and Clarica Life Insurance - US, have chosen SilverStream eXtend products for the first time this quarter. Any organization that has a complex IT environment, as insurance companies often do, can benefit from SilverStream eXtend's XML-based integration capabilities to Web service-enable most any enterprise systems including mainframes and other legacy or back-end systems, vendor packages, Web sites and EDI (Electronic Data Interchange) The electronic communication of business transactions, such as orders, confirmations and invoices, between organizations. Third parties provide EDI services that enable organizations with different equipment to connect. exchanges. "After evaluating several options, we chose SilverStream on the strength of the company's products and its commitment to our long-term success," said Peter Van Dyk, vice president and chief information officer for Clarica Life Insurance Company - US. "SilverStream eXtend Composer will enable us to integrate a number of disparate systems that contain business-critical information for our sales force and internal business partners. We chose eXtend Composer because it fits easily into our WebSphere-based architecture and provides an easy-to-use, visual design environment that will enable Clarica to rapidly connect our stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. with the information they need to be successful." Many existing SilverStream customers representing a diverse range of industries have also purchased new or additional SilverStream eXtend products in the first quarter of 2002, including a United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Government Agency, the Confederation of Norwegian Business (NO), the County of El Paso El Paso (ĕl pă`sō), city (1990 pop. 515,342), seat of El Paso co., extreme W Tex., on the Rio Grande opposite Juárez, Mex.; inc. 1873. (US), Express Scripts (US), MacDonald Dettwiler MacDonald, Dettwiler and Associates Ltd. (TSX: MDA) is a Richmond based, Canadian information services and products company, employing over 3000 people throughout Canada, the United States and the United Kingdom, under the MDA brand name. (US), Minihouse (NL), the Minnesota Department of Health (US) and the State of Ohio Department of Health (US). These customers continue to choose SilverStream eXtend products for their flexible, standards-based architecture, ease-of-use, and rapid application development and deployment capabilities to further their organizational objectives. "SilverStream is a valuable partner committed to the success of our legacy integration and migration projects," said Susan Curnutte, division manager, Strategic Application Systems, County of El Paso, CO. "The recently released, next-generation SilverStream eXtend products provide just what we've come to expect from SilverStream technology - a solid and standards-based foundation that is highly productive, and an impressive time-to-market profile." Shawn McCann, Lead Project Engineer at MacDonald Dettwiler (MDA (1) (Monochrome Display Adapter) The first IBM PC monochrome video display standard for text. Due to its lack of graphics, MDA cards were often replaced with Hercules cards, which provided both text and graphics. See PC display modes and Hercules Graphics. ) added: "MDA continues to invest in SilverStream eXtend Composer because we believe it helps us deliver mission-critical services to our UK land information customers as well as support new projects over the next year. MDA selected SilverStream eXtend products in our NLIS NLIS National Land Information Service NLIS National Livestock Identification Scheme (Australian livestock tracking system) NLIS Navy Logistics Information System NLIS National Latino Interest Survey program based on the ease-of-use and productivity benefits provided by the SilverStream solutions." David Litwack, 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 SilverStream Software, Inc. concluded: "These customer wins so early in the first quarter demonstrate that the SilverStream eXtend product suite is already gaining traction in the emerging market for Web services' solutions. SilverStream is very well positioned with the SilverStream eXtend product suite, the industry's first comprehensive and highly productive environment for the development and deployment of the next generation of Web applications, based on Web services. We look forward to continued success as the market for these solutions grows in the months and years to come." About SilverStream eXtend SilverStream eXtend is the first comprehensive, integrated product suite that simplifies and accelerates the development and deployment of the next generation of Web applications using Web services. The SilverStream eXtend product suite features a high-performance, Web Services-based engine and leverages SilverStream eXtend Composer to create Web Services from scratch or from any existing enterprise system or data source. In addition, SilverStream eXtend Director delivers Web Services to the people and systems that need them, regardless of the device. SilverStream eXtend also runs on leading J2EE application A J2EE application or an enterprise application is any deployable unit of J2EE functionality. This can be a single J2EE module or a group of modules packaged into an EAR file along with a J2EE application deployment descriptor. servers, including the SilverStream eXtend Application Server, making it the most comprehensive product line for J2EE- and Web Services-based applications. For more information, please visit: http://www.silverstream.com/extend. About SilverStream Software, Inc. SilverStream Software, Inc. (Nasdaq: SSSW) provides the first comprehensive integrated product suite to simplify and accelerate the development of sophisticated business applications. SilverStream's proven technology is based on the best of Java, XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. , and Web Services, and enables businesses to unlock the potential of existing systems and rapidly deliver business applications to the Web. SilverStream powers business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets for more than 1,500 customers worldwide including Amerisure Insurance, Home Depot The Home Depot (NYSE: HD) is an American retailer of home improvement and construction products and services. Headquartered in Vinings, just outside Atlanta in unincorporated Cobb County, Georgia, Home Depot employs more than 355,000 people and operates 2,164 big-box , the Chicago Stock Exchange Chicago Stock Exchange (CHX) A major exchange trading only stocks, with 90% of trades taking place on an automated execution system, called MAX. , Samsung Electronics Samsung Electronics (SEC, Hangul:삼성전자; KSE: 005930, KSE: 005935, LSE: SMSN, LSE: SMSD) is a South Korean multinational corporation and the world's largest and leading electronics and information technology company. , Sears and US Cellular. SilverStream's worldwide partner network includes system integrators, independent software vendors, application service providers and other strategic partners such as Cap Gemini Ernst & Young, Compaq, Deloitte & Touche, Hewlett Packard, 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) , Intel, Mercury Interactive For another company with a similar name, see Mercury Computer Systems. HP Mercury (formerly Mercury Interactive) is a subsidiary of Hewlett-Packard that is a market leader in automated software quality assurance and offers products in other areas such as diagnostics, , Microsoft, Oracle and Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. . SilverStream Software is headquartered in Billerica, Mass. with offices throughout the world. For more information, please visit http://www.silverstream.com. SilverStream is a registered trademark and SilverStream eXtend is a trademark of SilverStream Software, Inc. All other names are trademarks or registered trademarks of their respective owners. This press release contains forward-looking statements for purposes of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions under 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. Forward-looking statements include, but are not limited to, statements regarding the Company's expectations, beliefs, hopes, intentions or strategies regarding the future, including the statements in this press release regarding future financial performance and our ability to withstand current economic conditions. These statements involve risks and uncertainties that may cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements. Factors related to the subject matter of this press release that could cause or contribute to such differences include: market acceptance of our SilverStream eXtend product suite; and continued widespread adoption by businesses of Internet business solutions. Other factors that could cause or contribute to such differences include, but are not limited to: economic and political uncertainties caused by the September 11 terrorist attacks upon the United States; the effect of current and future economic conditions on information technology spending; our ability to expand our customer base or generate repeat business with existing customers; technological changes; our ability to develop and enhance our products and services; our ability to continue using third party software in our products; protection of our intellectual property; our ability to continue using the Java programming language or the loss of market acceptance of the Java programming language; and other risk factors that are discussed in the Company's reports and registration statements filed previously and from time to time with the U.S. Securities and Exchange Commission. All forward looking statements included in this press release are based upon information available to the Company as of the date hereof, and the Company does not assume any obligation to update such statements or the reasons why actual results could differ materially from those projected in such statements. |
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