COMPUWARE CORPORATION ANNOUNCES INTENT TO ACQUIRE ECOSYSTEMS SOFTWARE, INC.
FARMINGTON HILLS, Mich., May 26 /PRNewswire/ -- Compuware Corporation (NASDAQ: CPWR) today announced it has executed an agreement to acquire EcoSystems Software, Inc., a privately held software company in Cupertino, Calif. Upon final approval of the transaction, Compuware will issue 740,000 shares of its common stock to the shareholders of EcoSystems, Inc. The acquisition is expected to be accounted for as a pooling of interests. The number of shares is subject to adjustment in certain circumstances. EcoSystems Software, Inc. designs, develops and markets integrated management software for UNIX client/server environments. EcoSystems' products provide integrated management of database, computer and network components of a client/server environment. The product family includes EcoSPHERE and EcoTOOLS, a set of products initially targeted at companies running ORACLE-based mission-critical applications on a variety of UNIX platforms. EcoSystems began production and shipment of EcoTOOLS and EcoSPHERE in December 1992. EcoSystems had a net loss for the year ended Dec. 31, 1992, of $1.5 million, and had no revenues. Founded in 1991, EcoSystems includes executives and technical personnel previously with Hewlett-Packard, Oracle, IBM and AT&T. "The EcoSystems acquisition, when consummated, will provide Compuware an immediate entry in the client/server arena with a commercial-grade product which has received excellent reviews from its customers, including Burlington Coat Factory and Home Box Office," said John Williams, Compuware's executive director of client/server applications. "In addition, it offers Compuware a foundation technology to extend our existing product families to the client/server environment." Completion of the transaction is subject to the receipt of regulatory approvals, and the approval of the shareholders of EcoSystems. Compuware Corporation, headquartered in Farmington Hills, develops, markets and supports an integrated set of systems software products which improve the productivity of data processing professionals in application implementation and maintenance through program testing, fault diagnosis, data management and error correction. The company also offers a wide range of data processing professional services, including business systems analysis, design, programming and implementation, along with software conversion and systems planning and consulting. -0- 5/26/93 /CONTACT: Chris Norris of Compuware Corporation, 313-737-7506; or Edd Snyder or Jeff Caponigro of Casey Communications Management, Inc., 313-423-4600, for Compuware/ (CPWR)
CO: Compuware Corporation; EcoSystems Software, Inc. ST: Michigan, California IN: CPR SU: TNM
KE-DH -- DE025 -- 2615 05/26/93 16:39 EDT
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|Date:||May 26, 1993|
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