MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Aug. 30, 1999--
New Stock Trading and Portfolio Tracking Application From Charles
Schwab Features Easy Installation and
Performance While Supporting Offline Use
Marimba(R), Inc. (Nasdaq:MRBA.O), a leading provider of
Internet-based software management solutions, today announced that
Charles Schwab & Company, Inc. (Nyse:SCH) is using Marimba's
Castanet(R) technology for its new trading and portfolio management
tool designed specifically for active investors.
Named Velocity(TM), the desktop trading system was created using
Castanet's Internet infrastructure framework. Schwab will also use
Castanet to frequently and cost-effectively update the client software
transparently to end-users, helping to ensure that active investors
have the most current software possible for managing their portfolios.
"With Castanet we have been able to create a client/server
application that leverages a conventional ISP Internet connection,
while offering the performance benefits of desktop software,"
explained Vincent Phillips, vice president of Web Systems at Charles
Schwab. "Since the Velocity application actually resides on the
customer's PC, they no longer have to wait while a Web server formats
and downloads pages. Instead, presentation and page rendering
activities are handled locally. And, since data previously downloaded
is also stored locally, the only time data is downloaded is when
changes have occurred."
With this configuration, Charles Schwab expects Velocity to
provide a significant performance improvement, compared to a
conventional application that relies exclusively on the Web. Of
course, performance improvements will be impacted by the customer's
ISP connection, Web response times and telephone links.
In addition to the significant performance benefits, this
application management architecture also empowers active traders to
use the program offline. "This offline capability lets traders check
their portfolio status and enter trade orders whenever and wherever
they want to," said Phillips. "Then, when they're ready, all they do
is connect to us and submit their trade orders."
After Velocity is installed on a customer's desktop, updates are
provided automatically through the Schwab Web site. Schwab is
projecting savings because their Castanet-based application is
Java-based and platform independent. "With Castanet, we only have to
develop, update and support a single application for all operating
systems," commented Phillips. As a result, development, maintenance
and support costs are minimized.
About Charles Schwab
Charles Schwab & Co., Inc. serves 6.2 million active accounts
with $592 billion in customer assets. Schwab currently has 2.8 million
active online accounts with $251 billion in customer assets. Schwab
provides a full-service investing experience to customers through a
multi-dimensional offering of the Internet, 310 branch offices, speech
recognition and touch-tone telephone technologies, multilingual and
international technologies, and direct access to professionals day or
night.
Schwab online investors transact over $11 billion in securities
through schwab.com each week. Schwab has won numerous
awards for its leadership in technology, including the Global
Information Infrastructure Award for Top Commerce site, the CIO 100
Award, PC World's 1999 World Class Award for the best Web Brokerage
Site and has been recognized by Business 2.0 as one of the 100 Hottest
Companies on the Net. Schwab has been a pioneer in online investing
and has been a leader in customer technologies for 15 years. Member
SIPC/NYSE.
About Marimba
Marimba is a leading provider of Internet-based software
management solutions that enable companies to expand their market
reach, streamline business processes and strengthen relationships with
customers, business partners and employees. Marimba's Castanet product
familyprovides an efficient and reliable infrastructure by which
enterprises can distribute, update and manage applications and related
data over corporate intranets, extranets and the Internet.
Depended upon by such organizations as The Home Depot, Intuit,
and Seagate Technology, Castanet enables companies to leverage the
Internet more efficiently by reducing software management costs,
delivering greater functionality and improving customer loyalty.
Marimba is headquartered in Mountain View, and can be reached at
650/930-5282, info@marimba.com, or at its Web site at
marimba.com.
This press release contains forward-looking information within
the meaning of Section 21E of the Securities Exchange Act of 1934, and
is subject to the safe harbors created by this section. These
forward-looking statements concern, among other things, our announced
customer's planned roll-out of its application with Castanet and the
performance level, technical benefits and cost savings our customer
expects to achieve with Castanet. Those results are subject to a
number of risks and uncertainties, including: the remaining time and
effort required to complete the customer's deployment; technical
challenges specific to the customer's Castanet implementation; and
other business and expense factors particular to the customer that
could impact whether the customer is able to achieve expected savings
with Castanet. Actual results may differ materially due to these and
other factors. The matters discussed in this press release also
involve risks and uncertainties described from time to time in
Marimba's filings with the Securities and Exchange Commission. In
particular, see the Risk Factors described in Marimba's final
Prospectus dated April 29, 1999 for its initial public offering, as
well as its most recent Quarterly Report on Form 10-Q. Marimba assumes
no obligation to update the forward-looking information contained in
this press release.
Note to Editors: Marimba and Castanet are registered trademarks
of Marimba, Inc. in the U.S. and/or other countries. All other
product, trademark, company, or service names mentioned herein are the
property of their respective owners.
--30--pw/sf* sdf/sf
CONTACT: Marimba, Inc.
Suzan Woods, 650/930-5366
swoods@marimba.com
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED BANKING
INTERACTIVE/MULTIMEDIA/INTERNET PRODUCT
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