ZDNet to Acquire Updates.com.
SAN FRANCISCO, June 7 /PRNewswire/ -- Underscoring the importance of online help, maintenance and service to people who use technology products, ZDNet (NYSE: ZDZ) today announced that it has signed a letter of intent to acquire Updates.com Inc. Terms of the proposed transaction were not disclosed. Updates.com (www.updates.com) simplifies the complex process of updating and upgrading software and analyzing hardware by providing a range of automated services and content.
"Updates.com is an outstanding fit for ZDNet, which attracts millions of technology-interested visitors," said Dan Rosensweig, president and CEO of ZDNet. "All computer users have a need for software updates to keep pace with rapidly changing technology. With Updates.com, ZDNet will be uniquely positioned as the upgrade liaison between hardware and software vendors and their customers, creating a one-stop online help, service and support marketplace."
Updates.com's automated software update and hardware analysis service remotely scans a visitor's computer, and determines whether the software is out-of-date. It then displays a detailed list of updates and upgrades that can be downloaded, as well as suggestions for appropriate hardware upgrades. Users of the service can be notified in the future as new updates matching their profiles become available.
ZDNet plans to make Updates.com an integrated part of the popular ZDNet Help Channel, which provides visitors with a wealth of service and support content, from the latest help-related news, tips and reviews to personal guidance and manufacturers' FAQ's. "Our ZDNet Help Channel has become a trusted source of guidance for our visitors. The integration of Updates.com will enable us to take online support to a new level by combining award- winning content with services that convert the tedious task of updating software into an automated 'painless' process," Rosensweig added.
"The combination of ZDNet and Updates.com will provide visitors with exciting possibilities," said Harold Lund, president of Updates.com. "People who use computers trust ZDNet to provide reliable content, and value ZDNet for its incredible depth and breadth of technology information and services. By integrating Updates.com with ZDNet, we plan on creating a comprehensive computer updating, service and support center that raises the bar for convenience and efficiency."
Based in San Francisco, ZDNet develops and maintains the ZDNet Web site (www.zdnet.com), a leading source for technology and Internet content and commerce. By combining groundbreaking, interactive technology with editorial from its own award-winning editorial team and from Ziff-Davis' worldwide network of journalists, ZDNet produces original, compelling content and communities of common interests in technology. ZDNet is consistently ranked by Media Metrix as the number-one Web site in the News, Information and Entertainment category. ZDNet is a division of Ziff-Davis Inc.
This release contains forward-looking statements that are subject to risks and uncertainties. Although Ziff-Davis Inc. believes that the expectations reflected in its forward-looking statements are reasonable, actual results could differ materially from those expectations. Important cautionary statements and risk factors that would affect actual results are discussed in materials filed by Ziff-Davis Inc. with the Securities and Exchange Commission, including under the caption "Risk Factors" in the Registration Statement on Form S-1, which became effective March 30, 1999. Holders of ZD Stock and ZDNet Stock are common stockholders of Ziff-Davis Inc. and are subject to the risks associated with an investment in Ziff-Davis Inc. and all of its businesses, assets and liabilities.