GREAT NEWS OUT FOR SYSF...Its about time
Looks Like SYSF may be on its way back up
Thursday October 22, 8:34 am Eastern Time
Company Press Release
SystemSoft Signs Definitive Agreement for the Sale
and Licensing of BIOS Products
Company Receives Initial Cash Payment of $612K
NATICK, Mass.--(BUSINESS WIRE)--Oct. 22, 1998-- SystemSoft(R) Corporation (NASDAQ:SYSF - news), today
announced that it has concluded a definitive Agreement with Insyde Software for the sale of some BIOS assets and the
licensing of others effective September 1, 1998. Insyde Software is a privately held software company with offices in
Natick, MA and Taipei, Taiwan.
In consideration of the Agreement, SystemSoft could receive payments of up to $2.0 million. Under terms of the Agreement,
SystemSoft received an initial cash payment from Insyde of $612,000.
Additionally, SystemSoft and Insyde Software have implemented a joint-program designed to individually transition previous
SystemSoft BIOS customers.
''This transaction with Insyde helps strengthen our focus on our core business -- automated problem-resolution technologies
such as SystemWizard(R), CardWizard and MobileAssist,'' said Frank A. Sola, Chief Executive Officer of SystemSoft.
''We are confident in Insyde Software's ability to provide outstanding service and products to the mobile BIOS industry.''
About SystemSoft
SystemSoft is a leading provider of automated self-help technologies, including SystemWizard(R), CardWizard for NT 4.0
and MobileAssist. SystemSoft licensees include leading PC manufacturers such as Acer, Dell, Hewlett-Packard, Micron,
Packard Bell NEC, Quantex and Toshiba, as well as corporate partners such as Computer Associates and Sykes
Enterprises. Information on SystemSoft products and services is available on the World Wide Web at www.systemsoft.com.
Any statements that are not historical facts contained in this release are forward looking statements. Those statements are
subject to risks and uncertainties that could cause actual results to differ materially from those anticipated, including but not
limited to those relating to cash liquidity, market acceptance, and other risks identified in the Company's Securities and
Exchange Commission filings.
SystemWizard and SystemSoft are registered trademarks of SystemSoft Corp. Other product names used in this publication
are for identification purposes only and may be trademarks of their respective companies. |
