Touchstone sells Checkit Line, Should provide funds they have been looking for, news follows:
Tuesday August 1, 7:16 am Eastern Time
Press Release
TouchStone Software Corp. Sells CheckIt Retail
Line to Smith Micro Software Inc.
Signs Definitive Agreement to Sell Its Utilities System Applications
NORTH ANDOVER, Mass.--(BUSINESS WIRE)--Aug. 1, 2000--TouchStone Software Corp. (OTCBB:TSSW -
news), a developer of innovative utility software, Tuesday announced through its wholly owned subsidiary eSupport.com
Inc., that it has signed a definitive agreement to sell its CheckIt® software line to Smith Micro Software Inc. (Nasdaq
NMS:SMSI - news), a developer and marketer of e-commerce and communication software products and services.
The acquisition is expected to close prior to the end of the third quarter. Smith Micro will market the products under the
Smith Micro CheckIt brand including: CheckIt Utilities; CheckIt FastMove; CheckIt NetOptimizer; and CheckIt Suite.
Smith Micro Software designs integrated, cross platform, easy-to-use software for personal computing and business
solutions on a global scale. With a focus on the Internet and broadband technologies, the company capitalizes on
products, which enable e-commerce, Internet communications (voice-over-IP), video conferencing, wireless
communications and network fax along with traditional computer telephony.
``TouchStone Software Corp. has established itself as a leading developer of technologies that redefine the speed,
convenience and efficiency of computer applications,'' said Pierre Narath, CEO and president of TouchStone Software.
``The decision of a technology leader like Smith Micro Software Inc., to purchase the CheckIt retail line from
TouchStone, recognizes CheckIt's reputation as a long-standing leader among general system utilities software.
``This represents a significantly beneficial transaction for both companies. With the addition of the innovative CheckIt
software products, this acquisition will continue to place Smith Micro squarely in the center of the new Internet and
technology economy. Furthermore, the transaction strengthens Smith Micro's position in the retail marketplace.
``eSupport.com remains committed to leveraging its proven technologies and continued success in the OEM and direct
channel sales. This transaction will allow eSupport.com to re-dedicate its resources to additional opportunities to achieve
profitability and increased value for our shareholders.''
``The addition of the CheckIt line of products is the perfect complement to our growing product line of personal and
business software solutions. This acquisition clearly positions us in the growing field of technology software product and
services,'' said William W. Smith Jr., president and CEO of Smith Micro.
``This transaction allows us to continue to be highly competitive in the Internet community and related markets while
diversifying our current business model and enhancing our overall technology capabilities.''
WinCheckIt 6.5, released in December 1999, is an award-winning program which enables users to uncover potential
problems, check performance and assess system reliability, and features Windows NT support, as well as Command
AntiVirus software from Command Software Systems Inc. WinCheckIt 6.5 offers the strongest hardware diagnostic tests
available for Windows 95/98 and is based on the same award- winning technology that powered the CheckIt98
Diagnostic Suite.
In keeping with the company's two-pronged business focus, TouchStone Software, through its subsidiary eSupport.com,
is a leading developer of innovative software designed to help people use complex technologies. Through strategic
minority interests, eSupport.com also manages a portfolio comprised of well-managed, late-stage technology companies
with market presence in e-commerce, content and community and enabling technologies.
eSupport.com's corporate headquarters are located at 1538 Turnpike St., North Andover, Mass., 01845 with a branch
office in Europe located at Sonnenstrasse 26B, 85622 Feldkirchen, Germany. Additional information about
eSupport.com is available at www.esupport.com.
Smith Micro Software, with headquarters in Aliso Viejo, Calif., is a developer and marketer of eCommerce and
communication software products and services. The company designs integrated, cross platform, easy-to-use software
for personal computing and business solutions around the world.
With a focus on the Internet, Wireless and Broadband technologies, the company's products enable eCommerce,
Internet communications (voice-over-IP), video conferencing, wireless communications and network fax, along with
traditional computer telephony.
Smith Micro's complete line of products is available through direct sales, retail stores, value-added resellers (VARs) and
original equipment manufacturers (OEMs). Smith Micro's common stock trades on the Nasdaq Stock Market® under
the symbol SMSI. For more information, contact Smith Micro at 949/362-5800 or visit the company's Web site at
www.smithmicro.com.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in the
forward-looking statements as a result of various factors including the ability of the company to successfully
commercialize its new technologies, as well as risk factors set forth under ``Factors Affecting Future Operating Results''
in the company's annual report on Form 10-K and such other risks detailed from time to time in the company's reports
filed with the Securities and Exchange Commission. The company undertakes no obligation to publicly release the result
of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.
Contact: |
