Well, there are now threads for DSS and HDD, so I'm not sure what will happen to this one, but just wanted to give everyone official notice that Meridian Data has sent out proxy notices for the special meeting on the merger, due to take place on Sept 9, with the merger effective shortly thereafter assuming, as we all do, approval.
Meridian Data Files Merger Proxy Statement
SCOTTS VALLEY, Calif.--(BUSINESS WIRE)--Aug. 11,
1999--Meridian Data, Inc. (Nasdaq:MDCD - news), a provider of simplified network storage solutions, today
announced the mailing of its proxy statement in connection with the upcoming merger with Quantum Corporation
(``Quantum').
The Special Meeting to approve the merger with Quantum and other merger-related issues will be held on Thursday,
Sept. 9, 1999. The Board of Directors has declared that all holders of Common Stock at the close of business on Aug. 4,
1999 are entitled to vote at the Special Meeting.
Pursuant to the terms of the Merger Agreement, the pricing period for determining the merger conversion ratio will be
from Tuesday, Aug. 31 through Tuesday, Sept. 7. The merger should be effective shortly after the Special Meeting.
Gianluca Rattazzi, president and chief executive officer of Meridian Data, said, ``We believe that the merger with
Quantum provides some very substantial benefits to Meridian's stockholders. The merger with Quantum will provide the
Snap! Server with the financial and marketing resources to realize greater success than we could otherwise achieve, while
at the same time providing our stockholders with a handsome return and the ability to share in Quantum's success with
the Snap! Server.'
Rattazzi continued, ``The future potential of the network-attached storage ('NAS``) market is evidenced by the many
large and established companies, such as Intel, Hewlett Packard, and the Netgear division of Nortel Networks, which
have announced their intention to enter the market for NAS. These companies have substantially greater financial and
marketing resources than Meridian.
``As evidenced by the many laudatory reviews and awards that the Snap! Server has won, Meridian has developed the
gold standard when it comes to network-attached storage appliances. Unfortunately, given our limited resources, it would
be extremely difficult for the Snap! Server to realize its full market potential, absent the resources of Quantum.'
Rattazzi concluded, ``I urge all Meridian stockholders to sign and return their proxy card as soon as possible. According
to the rules of the SEC and the securities exchanges, your broker may not vote your shares without receiving instructions
from you, the beneficial owner. Any stockholder who fails to return their proxy card, even if they believe in the benefits
of the merger, has effectively voted against merging their company with Quantum.'
About Meridian Data
Founded in 1988, Meridian Data is a developer and manufacturer of easy-to-use network storage solutions. Trading as
MDCD on the Nasdaq National Market System, Meridian is headquartered in Scotts Valley, and maintains offices in
New York, Washington D.C., Dallas, Florida, Atlanta, Chicago, San Francisco/Bay Area, and London.
The Company's products are available through leading distributors and value-added resellers, and leading computer
product catalogs worldwide. For more information, visit meridian-data.com or snapserver.com
on the World Wide Web or call the fax on demand server at 800/239-0335.
Safe Harbor Statement
The words ``anticipate,' ``believe,' ``estimate,' ``expect,' ``intend,' ``will,' ``project,' ``hope,' and similar expressions,
as they relate to the Company or the markets in which the Company's products compete, are intended to identify
forward-looking statements. Such statements reflect the current views of the Company with respect to future events and
are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize,
or should underlying assumptions prove incorrect, actual results may vary significantly from those described. In
accordance with provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21G of the Securities
Exchange Act of 1934, as amended, the Company is making investors aware that such forward-looking statements,
because they relate to future events, are by their very nature subject to many important factors which could cause actual
results to differ materially from those contained in the forward-looking statements. Factors that might cause such
differences include, but are not limited to, the risk factors set forth in the Company's filings with the Securities and
Exchange Commission and those set forth below. Such forward-looking statements include, but are not limited to,
comments regarding the company's pending merger with Quantum Corporation, and future Snap! Server sales. This
merger and related issues are subject to stockholder approval and the company's board of directors and management do
not control sufficient shares to guarantee approval. Failure to obtain the necessary stockholder approvals would have a
material adverse effect on the company. The Company's quarterly operating results may also vary significantly due to
changes in market acceptance of new products, including the Snap! Server, The Company's quarterly operating results
may vary significantly due to changes in market acceptance of products, such as the Snap! Server, and changes in the
projected growth of the NAS market. There can be no assurance that the Company will be successful in developing and
marketing the Snap! Server or other new products, or that such products will achieve market acceptance. The Company
has failed to meet its expectations of future revenues in the past. As a result of these and other factors, the Company
believes that its revenues and operating results are difficult to predict and are subject to fluctuations from period to period.
The Company is actively developing new products for the NAS market. Such products entails substantially higher risks
to the Company in the form of new and well established competition, and competitive dynamics different than those
experienced in the CD ROM networking market.
Contact:
Meridian Data Inc., Scotts Valley
Erik E. Miller/Steve Schroeder, 831/438-3100
or
Lippert/Heilshorn & Associates
Lillian Armstrong/Kris Otridge, 415/433-3777 |
