AUSTIN, Texas, Oct. 7, 2003 - Forgent™ Networks (Nasdaq: FORG), a leading provider of enterprise meeting automation software, today announced it acquired certain assets of Network Simplicity Software
October 7, 2003 (Press Release) --
Forgent has acquired Network Simplicity’s flagship product, Meeting Room Manager™ (MRM), a scheduling application designed for ease of use and rapid deployment across small-medium businesses. The acquisition was approved by each company’s Board and finalized on Oct. 6, 2003.
“We have been focused on the high-end enterprise with our ALLIANCE software suite, and this acquisition will allow us to expand our market opportunity in the small-medium business segment,” said Richard Snyder, chairman and chief executive officer of Forgent Networks. “In addition to expanding our market opportunity, Network Simplicity’s distribution model, which is built around telesales and web sales, is highly complementary to our direct distribution model for ALLIANCE. By leveraging these complementary go-to-market strategies, we believe we will be able to serve a wide range of the meeting automation market.”
“Network Simplicity’s software/solutions are a natural expansion of the rich capabilities of Forgent’s ALLIANCE™ software suite,” said James Dean, president and chief executive officer of Network Simplicity. “By extending its product line, Forgent is well positioned to enter into new markets and gain customers worldwide.”
In parallel with MRM, Forgent will continue to market its flagship meeting automation software, ALLIANCE, to customers needing solutions that extend their existing enterprise messaging and calendaring platforms (Microsoft Exchange and Lotus Domino). Key features include Microsoft Outlook and Lotus Notes-based scheduling interfaces, rich media automation capabilities, and support for enterprise environmental requirements.
The total purchase price for the assets acquired from Network Simplicity was approximately $3.5 million, assuming certain earn out conditions are met. The company does not anticipate this transaction to have a material effect on previously announced software guidance for the first fiscal quarter of 2004 and fiscal year 2004.
About Forgent
Forgent™ Networks is a leading provider of enterprise meeting automation software that enables organizations to optimize their conferencing environment. Forgent’s key software suite, Forgent ALLIANCE™, streamlines the planning and execution of meetings by providing one-stop scheduling of all resources needed for any meeting and automatically launches the communications media at the outset of the session. As a result, organizations recognize increased productivity and reduced administrative overhead associated with their current environment. For additional information visit www.forgent.com.
About Network Simplicity
Founded in 1994, Network Simplicity is a provider of web-based scheduling and asset management solutions for the small-medium business market. Network Simplicity markets two products—its flagship Meeting Room Manager™ and Visual Asset Manager. Network Simplicity Software Inc. is based in Richmond, British Columbia, Canada.
“We have been focused on the high-end enterprise with our ALLIANCE software suite, and this acquisition will allow us to expand our market opportunity in the small-medium business segment,” said Richard Snyder, chairman and chief executive officer of Forgent Networks. “In addition to expanding our market opportunity, Network Simplicity’s distribution model, which is built around telesales and web sales, is highly complementary to our direct distribution model for ALLIANCE. By leveraging these complementary go-to-market strategies, we believe we will be able to serve a wide range of the meeting automation market.”
“Network Simplicity’s software/solutions are a natural expansion of the rich capabilities of Forgent’s ALLIANCE™ software suite,” said James Dean, president and chief executive officer of Network Simplicity. “By extending its product line, Forgent is well positioned to enter into new markets and gain customers worldwide.”
In parallel with MRM, Forgent will continue to market its flagship meeting automation software, ALLIANCE, to customers needing solutions that extend their existing enterprise messaging and calendaring platforms (Microsoft Exchange and Lotus Domino). Key features include Microsoft Outlook and Lotus Notes-based scheduling interfaces, rich media automation capabilities, and support for enterprise environmental requirements.
The total purchase price for the assets acquired from Network Simplicity was approximately $3.5 million, assuming certain earn out conditions are met. The company does not anticipate this transaction to have a material effect on previously announced software guidance for the first fiscal quarter of 2004 and fiscal year 2004.
About Forgent
Forgent™ Networks is a leading provider of enterprise meeting automation software that enables organizations to optimize their conferencing environment. Forgent’s key software suite, Forgent ALLIANCE™, streamlines the planning and execution of meetings by providing one-stop scheduling of all resources needed for any meeting and automatically launches the communications media at the outset of the session. As a result, organizations recognize increased productivity and reduced administrative overhead associated with their current environment. For additional information visit www.forgent.com.
About Network Simplicity
Founded in 1994, Network Simplicity is a provider of web-based scheduling and asset management solutions for the small-medium business market. Network Simplicity markets two products—its flagship Meeting Room Manager™ and Visual Asset Manager. Network Simplicity Software Inc. is based in Richmond, British Columbia, Canada.
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