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Friday March 13, 8:37 am Eastern Time
Company Press Release
SOURCE: MIS AG
Applix and MIS Announce Settlement
WESTBORO, Mass., and FLORHAM PARK, N.J., March 13 /PRNewswire/ -- Applix, INC., (Nasdaq: APLX - news)
and MIS AG today announced that they have reached a settlement of the litigation pending between them in the United States
District Court in New Jersey. The parties have agreed to certain provisions allowing the distribution of the MIS ALEA and
Applix TM1 products by MIS. The Parties have also agreed to release each other from all claims and to terminate the
pending litigation.
Applix CEO Jit Saxena expressed satisfaction with the resolution, stating that ''I am pleased that we were able to bring this
matter to a swift conclusion.'' Similarly, noted Peter Raue, Chairman and CEO of MIS AG, ''We are happy that we were
able to so rapidly reach a solution of this dispute.''
About Applix:
Applix, Inc. with headquarters in Westboro, MA, is the leading provider of front office business applications in managing
customer interaction, real-time decision support and office productivity across globally networked, extended enterprise
environments. The Company was incorporated in 1983 and now has over 300 employees located in offices worldwide.
About MIS:
MIS AG with headquarters in Darmstadt, Germany, specializes in designing, building and implementing financial reporting and
budgeting systems around the world. Founded in 1988, the privately-held company has 13 offices throughout the world and
more than 180 employees. MIS AG's U.S. headquarters are in Florham Park, N.J.
SOURCE: MIS AG
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