Scangraphics, Inc. Changes Name to SEDONA Corporation
LIMERICK, Pa.--(BUSINESS WIRE)--April 5, 1999--
SpatialVision Technology Brings Breakthrough Desktop, Laptop, Net-Enabled Query and Visualization Enhancement to
Business Intelligence Applications
The Board of Directors of Scangraphics, Inc. (Nasdaq:SCNG) have approved a name change of the corporation to SEDONA Corporation, and will begin trading under the new Nasdaq Symbol "SDNA" effective Wednesday, April 7, 1999.
The Board of Directors of Scangraphics proposed the name change to better reflect the direction, vision and progress of the company, as it rapidly makes the transition to a software and imaging services company. Sedona has been and will continue to be focused on providing breakthrough desktop, laptop, net-enabled query and visualization enhancements to business intelligence applications. Another major opportunity being pursued is the Internet access to the vast stores of data used in business applications, for example, in support of sales force automation applications. It is in the latter area that Sedona is investigating the development of an electronic commerce website, which would provide this service directly to client businesses.
The name change is also the result of recognition on the part of the Company's leadership and the recommendation from a spectrum of shareholders and investors, that the Company take more assertive action to make the market aware of the new directions of the Company, as its relationships with its major alliance partners, Acxiom Corporation (Nasdaq:ACXM), Oracle Corporation (Nasdaq:ORCL), and Sun Microsystems (Nasdaq:SUNW) continue to develop and mature.
"SEDONA's new website address, SedonaCorp.com, will symbolize the advances that our flagship product, Sedona's SpatialVision, brings to the world of the internet, as an enabler and enhancement to a wide spectrum of internet e-commerce and business network data access applications. "It is our vision and our goal to become the leading provider of query and visualization software and to launch, from this platform, unequalled data access, through networks, intra, extra, and the Internet. This all begins with the relationships we have forged with Oracle and Acxiom," said Laurence L. Osterwise, President and Chief Executive Officer of SEDONA Corporation. "This change is more than a name, more than a symbol, it speaks to the transition our Company has made and is making, it speaks to the core of our strategic growth plan."
"With the progress we have made for SEDONA, for SDNA, we believe this is the right time to place a new name on the Company, a name that will act as a brand image and a rallying point for all of the Company's current and future business activities," Osterwise said. "The new SEDONA identity will help lead and unite our operations to establish our company as a major marketer of business intelligence visualization software solutions. |
