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NETWORK IMAGING SIGNS DEFINITIVE AGREEMENT TO ACQUIRE FRENCH CONCERN FOR $39 MILLION IN STOCK

 HERNDON, Va., June 1 /PRNewswire/ -- Network Imaging Corporation (NIC) (NASDAQ: IMGX) said it signed a definitive agreement to purchase Optix SA of Paris for 4.3 million shares of NIC common stock valued at $39 million, subject to the approval of NIC shareholders and certain government agencies.
 An agreement in principle to acquire Optix was announced March 17.
 NIC said the acquisition will be accounted for using the pooling-of- interest method. For the 12 months ended March 31, 1992, Optix posted consolidated revenue of 214 million French francs or $39 million and earnings of 11 million French francs or $2.1 million after inter-company adjustments.
 Robert P. Bernardi, president and CEO of Network Imaging, said the pending Optix acquisition makes NIC one of the largest open architecture providers of document imaging and optical storage systems worldwide, with consolidated revenue (including the Optix purchase) for the year ended Dec. 31, 1993 estimated in the range of $75 million.
 Optix SA, which has offices throughout Europe including Paris, Toulouse, London and Stuttgart, conducts its business operations through two subsidiaries: Dorotech France SA and ATG Gigadisc France SA.
 Dorotech France SA is a leading developer of document imaging and optical disk storage software in Europe. Dorotech's customers include: France Telecom, AT&T, General Electric, French Post Office, la Societe Generale, GEC Alsthom, Aerospatiale, Peugeot, Thomson, Fiat, C.E.R.N., Bosch Siemens, the European Space Agency and British Petroleum.
 ATG Gigadisc France SA is a leading developer of 12 inch optical disk storage products in Europe and manufactures 12 inch optical disks and optical storage devices in Toulouse, France. ATG's customers include major corporations, banks, insurance companies and financial institutions worldwide.
 Network Imaging Corporation designs, integrates and markets document imaging systems and optical storage products. NIC's flagship product, ImageXchange(TM), provides businesses with an automated method of electronically processing, storing and retrieving large quantities of documents such as insurance forms, credit card receipts, checks and legal records. NIC's other flagship product, the SPANServer(TM), provides a complete plug-and-play optical disk storage solution for virtually all network products, including UNIX-based and Novell systems.
 Optix SA, though its subsidiaries, Dorotech France SA and ATG Gigadisc France SA, designs and integrates document imaging systems and optical storage products in Europe. Dorotech designs and develops document imaging and optical storage software under UNIX. Dorotech's products include: Dorodisc, Dorofile, Dorodoc, Dorokey, Dorospace and Dorosave. ATG designs and manufactures 12 inch optical disks and optical storage devices. Its optical storage products are distributed both directly and through a network of specialized resellers.
 The agreement between NIC and Optix SA is subject to NIC shareholder approval to increase its authorized shares, and approval from appropriate government authorities.
 -0- 6/1/93
 /CONTACT: Robert P. Bernardi, president of Network Imaging Corporation, 703-478-2260, or Thomas Redington of Redington, Inc., 203-222-7399 or 212-926-1733, for Network Imaging Corporation/
 (IMGX)


CO: Network Imaging Corporation; Optix SA ST: Virginia IN: SU: TNM

SM-OS -- NY027 -- 3854 06/01/93 10:20 EDT
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Publication:PR Newswire
Date:Jun 1, 1993
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