Big News for SWCM!! We're up ~$30 on this news!
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Software.com To Acquire @mobile.com
@mobile.com's Wireless Instant Messaging and Network Integration Expertise to Accelerate Software.com's Growth in Wireless Internet Market
SANTA BARBARA, Calif.--(BUSINESS WIRE)--March 9, 2000-- Software.com Inc. (Nasdaq: SWCM), a leading developer of carrier-scale, Internet infrastructure applications, today announced it has signed a definitive agreement to acquire @mobile.com Inc. for approximately $400 million in Software.com common stock.
Headquartered in Bellevue-Wash., @mobile.com is a leading wireless Internet application service provider with wireless Instant Messaging technology and Wireless Intelligent Network (WIN) integration expertise. The acquisition of @mobile.com enables Software.com to deliver advanced, wireless Internet offerings, including unified messaging and true Instant Messaging. In addition, the agreement will add support for wireless applications to its carrier-scale LDAP (Lightweight Directory Access Protocol) directory.
"We plan to integrate @mobile.com's suite of applications rapidly into Software.com's offerings which we will then deliver as mobile Internet infrastructure software to service providers worldwide," said Software.com founder and CEO John MacFarlane. "@mobile.com's management team brings unparalleled experience from the wireless market. In particular, @mobile.com CEO Michael Buhrmann has more than 15 years as a leading industry executive at companies such as McCaw Cellular and AT&T Wireless."
The @mobile.com deal is the next step in Software.com's acquisition strategy initiated last year with the purchase of wireless Internet infrastructure developer Telarc, Inc. As a result of that acquisition, Software.com integrated Short Messaging Services (SMS) technology into its InterMail(R) messaging platform, which is exemplified by its current use at Sprint PCS. According to MacFarlane, the @mobile.com acquisition will enable Software.com to further extend its reach into the wireless market by providing mobile service providers with a broader array of applications to create and deliver mobile Internet services.
"Scalability is critical when dealing with wireless carriers as the subscriber bases number in the many millions," said Buhrmann. "One of our objectives, immediately upon close of the deal, is to combine Software.com's carrier-scale messaging and directory applications with @mobile.com's mobile Internet technology and expertise. Our two companies have already identified a shared set of wireless customers that need the ability to offer wireless unified messaging and wireless instant messaging."
Leveraging its flagship InterMail software and @mobile.com's strong WIN expertise, Software.com plans to deliver wireless unified messaging, enabling mobile service providers to tap the exploding wireless services market. Based on this technology, wireless service providers can provide their customers with "access anywhere" - the ability to access voicemails, emails, pages and faxes from a single mailbox regardless of location, time or device.
Another key technology component of the deal will allow Software.com to "productize" @mobile.com's Instant Messaging service. Unlike traditional Instant Messaging services, @mobile.com's Instant Messaging enables subscribers to detect user presence, allowing them to quickly ascertain who is online via mobile phone or PC. With @mobile.com's Instant Messaging, wireless subscribers can send and receive messages to mobile phones or PCs; create lists of friends and colleagues; and create group lists (i.e., accounting department, soccer team, etc.) to quickly and effectively broadcast messages to groups.
With this acquisition, Software.com plans to adapt its carrier-scale LDAP directory to enable mobile service providers to more effectively manage and expand their wireless data services. The companies intend to combine the @mobile.com technology with Software.com's directory product to provide advanced capabilities such as tracking and maintaining mobile user profiles, and presence and location information, which enables mobile service providers to easily tailor and manage data services for each of their subscribers.
Under the terms of the merger agreement, @mobile.com's existing 70 employees will join Software.com immediately following the close of the deal. Buhrmann will join Software.com's executive management team as general manager of its wireless business. In addition, Software.com will maintain an office in Bellevue. The deal will be financed by the exchange of 3.75 million shares of Software.com common stock for all outstanding stock and options in @mobile.com. The acquisition is expected to be accounted for as a pooling of interests and should close within six weeks. This acquisition has been approved by the board of directors of each company and is subject to customary closing conditions and regulatory approvals.
About @mobile.com, Inc.
@mobile.com (http://www.atmobile.com) is a leading application service provider (ASP) that develops, deploys, hosts, and manages wireless applications and services for wireless carriers, and is the only ASP that enables wireless subscribers to access the Web through both WAP-enabled and current-generation digital phones.
@mobile(SM) wireless Internet services include on-demand access to Web-based information, wireless instant messaging, location-based services, wireless e-commerce and customer profile management. As wireless networks are upgraded to WAP, @mobile.com works with wireless carriers to integrate and optimize content for WAP's menu-driven user-interface and helps carriers reduce churn among current-generation subscribers by seamlessly migrating their wireless Internet profiles to new WAP handsets.
@mobile applications and services are fully supported by a professional services team of wireless network integration experts who are fully versed in the program management, implementation and integration of Intelligent Network elements, enhanced service applications and support systems across all technology and service platforms.
About Software.com
Founded in 1993, and with more than 75 million seats licensed, Software.com is a leader in carrier-scale Internet infrastructure applications for service providers. Built on native Internet standards and proven in real-world deployments to be scalable, highly reliable, available and manageable, Software.com's products and services are specifically designed to enable service providers to market Internet-based services to businesses and consumers.
Customers comprise many of the largest service providers worldwide, including: Excite@Home, Ameritech Interactive Media Services, AT&T Canada, AT&T WorldNet(R) Service, Bell Atlantic Internet Service, BellSouth Communications, GTE.net Services, Hongkong Telecom, Pacific Internet, PSINet, Sprint PCS, Sonera, Road Runner, Telecom Italia Net (Tin.it), Telecom Italia Mobile SpA (TIM), Telecom Malaysia, Telecom New Zealand, TeleDanmark and TELUS. Software.com also has established strategic relationships with Cisco Systems, Hewlett-Packard, IBM, Nortel Networks and Telcordia Technologies (formerly Bellcore), in order to further develop, market, and sell our messaging solutions.
With headquarters in Santa Barbara, Calif., the company maintains offices throughout the U.S., Europe and Asia. Software.com can be reached in the U.S. at 805-882-2470 or software.com.
Note To Investors
Except for historical information, the matters discussed in this release are forward-looking statements subject to certain risks and uncertainties which could cause actual results to differ materially from those projected. Factors that could cause or contribute to such differences include the risk factors discussed in the company's filings with the U.S. Securities and Exchange Commission (SEC), including but not limited to Software.com's Form 10-Q for its most recently ended quarter and the registration statement on Form S-1 for the initial public offering of its common stock as declared effective on June 23, 1999. Copies of both are available from Software.com's web site or through the SEC's Electronic Data Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov. The Company assumes no obligation to update the forward-looking statements included in this document.
Software.com, Post.Office and InterMail are trademarks or registered trademarks of Software.com, Inc. in the United States and/or other countries. All other trademarks and service marks are the property of their respective owners.
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Contact:
Software.com Inc.
DeAnna Wassom, 805/882-2470 x224 (Media)
Mike Musson, 805/882-2470 x289 (Investors)
or
FitzGerald Communications
Nicole Maloney,415/986-9500
nmaloney@fitzgerald.com |
