(PR NEWSWIRE) Mainsoft Signs Strategic Investment Agreement With the Formu
Mainsoft Signs Strategic Investment Agreement With the Formula Group
Investment Accelerates Mainsoft's Windows(R) Platform for UNIX Adoption Rate
For Corporate IT Customers
SAN JOSE, Calif., Dec. 14 /PRNewswire/ -- Mainsoft, the leader in
cross-platform solutions for the enterprise, today announced that the company
has reached a strategic investment agreement with the Formula Group
(Nasdaq: FORTY), a leading international information technology software
company. The transaction will be completed through Crystal Systems Solutions
Ltd. (Nasdaq: CRYS), a member of the Formula Group. Under the terms of the
agreement, Crystal will invest up to $22.5 million in Mainsoft, with an
initial investment of $10 million cash transaction.
Mainsoft plans to further build its marketing and sales organization with
the Formula Group investment as well as help fund operational growth and
expansion. Leveraging the Formula Group's industry expertise, Mainsoft will
begin to capitalize on the enormous corporate IT market opportunity through
the integration of business and technology. This alliance with the Formula
Group will help Mainsoft continue to produce and deliver the most innovative
and creative cross-platform development solutions for Fortune 1,000 companies.
"We are proud to join forces with the Formula Group. Their strong
financial backing and industry expertise will allow us to expand the adoption
of our Windows platform for UNIX to the corporate IT marketplace," said
Yaacov Cohen, president of Mainsoft. "With their investment and guidance, we
plan to scale up our corporate infrastructure and strengthen our strategic
relationship with Microsoft to deliver additional creative technology
solutions."
Mainsoft develops and markets a Windows platform for UNIX systems
including Linux, allowing Windows applications to run natively in those
environments. MainWin, the company's flagship product, enables independent
software vendors and enterprise customers to maximize their current investment
in applications developed for Windows to generate native UNIX applications.
By using MainWin, overall development costs are dramatically reduced and time
to market is significantly improved. To date, the company has deployed more
than one million end-user licenses of MainWin.
"This investment in Mainsoft underscores our commitment to the
cross-platform development needs of our current and future customers," said
Gadi Goldstein, president of Formula Systems and chairman of Crystal. "The
collaboration between Mainsoft's management team coupled with the Formula
Group's leadership will enable us to take advantage of this enormous market
opportunity. As a result, we felt compelled to invest in the leading provider
of Windows-to-UNIX cross-platform development solutions."
About Formula
The Formula Group is an international information technology company
principally engaged, through its subsidiaries and affiliates, in providing
software consulting services developing proprietary software products, and
providing computer-based solutions.
About Crystal Systems Solutions
Established in 1987, Crystal Systems Solutions Ltd. provides software
renovation solutions, based on its proprietary technology, for complex
conversion and migration projects. Crystal has built its conversion expertise
through the successful completion of projects for many prestigious Fortune
1,000 companies, thus establishing its competency and achieving global
recognition and presence.
The Crystal renovation methodology consists of several phases, including
assessment, conversion and testing. This methodology allows for tailor-made
adjustments to the automated process, based on client requests, thus providing
cost-effective, customized solutions. Crystal's renovation solutions include
platform and database migrations, IT mergers and acquisitions, and language
upgrades. They are available for mainframe, midrange and client/server
computing platforms. Crystal Systems Solutions is a member of the Formula
Group.
About MainWin
MainWin is Mainsoft's Windows platform for UNIX systems including Linux.
MainWin includes the implementation of Win32 APIs and Windows NT services on
UNIX. Through strategic agreements with Microsoft, Mainsoft has access to
Windows NT(R) and Windows 2000(R) source code. Mainsoft has incorporated
several million lines of original Windows NT source code into MainWin. This
ensures that applications developed with C, C++ and Dynamic HTML for Windows
will run on UNIX as it does on Windows NT. For example, some of the more
leading business applications re-hosted to UNIX with MainWin include:
Microsoft's Internet Explorer; Microsoft's Outlook; Computer Associate's
Unicenter; and Alcatel's X-Vision Enterprise.
About Mainsoft Corporation
Mainsoft automates re-hosting Windows NT applications on UNIX and Linux
platforms. Founded in 1991, Mainsoft is privately held with its corporate
headquarters in San Jose, CA. The company maintains sales offices in Boston,
Atlanta, Austin, Washington D.C., and London.
Mainsoft customers include Fortune 1,000 companies, Independent Software
Vendors (ISV's), corporate enterprise software developers, government
agencies, and OEMs. For additional information on Mainsoft, call 408-544-1400
or visit their Web site at www.mainsoft.com.
NOTE: Microsoft and Windows are all registered trademarks of Microsoft
Corporation. All other company and product names are trademarks of Microsoft
Corporation. LINUX is a trademark of Linus Torvalds. MainWin is a registered
trademark and Mainsoft is a trademark of the Mainsoft Corporation. All other
company and product names are trademarks of their respective owners.
SOURCE Mainsoft Corporation
-0- 12/14/1999
/CONTACT: Dana Russell of Mainsoft Corporation, 408-544-1407, or
dana@mainsoft.com; or Tiffany Pence of Fleishman-Hillard, Inc., 415-356-1023,
or pencet@fleishman.com, for Mainsoft Corporation/
/Web site: http://www. |
