ESFT news....
Monday May 24, 9:39 am Eastern Time
Company Press Release
SOURCE: eSoft Inc.
eSoft Completes Merger With Apexx Technology Inc.; eSoft Positioned for Internet Appliance Market Leadership
BROOMFIELD, Colo., May 24 /PRNewswire/ -- eSoft Inc. (Nasdaq: ESFT - news), the company that provides an Internet presence for small businesses through its family of TEAM Internet® appliances, today announced the completion of its merger with Apexx Technology Inc.
On Thursday, May 20, 1999, shareholders of both companies overwhelmingly approved the merger. The merger has been closed and articles of merger will be filed today, completing the transaction. The combined company will have approximately 70 employees and immediately becomes a leader in the Internet appliance industry in terms of installed customer base and revenues.
''Today marks a significant step forward in our drive toward market leadership,'' said Jeff Finn, president and CEO of eSoft. ''The new eSoft begins operations with an award-winning product line, a large and growing reseller network and a highly valued engineering team that has emerged as a leader in the Linux software marketplace. In addition, the sales and marketing efforts of the company, which were integrated in the first quarter of 1999, are beginning to show the benefits of the focus on resellers and the introduction of our e-commerce site.''
As part of the merger, Tom Loutzenheiser, the founder, CEO and chairman of Apexx Technology Inc., has been elected to the board of directors of eSoft. ''We welcome Tom to the eSoft board and look forward to benefiting from his contributions and leadership,'' added Finn.
About eSoft Inc.
eSoft Inc. was founded in 1984 with headquarters in Broomfield, Colo. eSoft provides a family of Internet appliances and services that enable small to medium-sized business to harness the full power of the Internet. The TEAM Internet family of products is designed for businesses with up to 200 workstations and provides low-cost, LAN-to-Internet connectivity and includes a range of features, including e-mail, Web browsing, firewall security, a Web server, remote access and a virtual private network (VPN). Contact eSoft at 295 Interlocken Blvd., #500, Broomfield, Colo., 80021, USA; 303-444-1600 phone; 303-444-1640 fax; www.esoft.com. TEAM Internet is a registered trademark of eSoft Inc.
Statements made in this Press Release that are not historical or current facts are ''forward-looking statements'' made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (''The ACT'') and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as ''may,'' ''will,'' ''expect,'' ''believes,'' ''anticipate,'' ''estimate,'' ''approximate'' or ''continue,'' or the negative thereof. The Company intends that such forward-looking statements be subject to the safe harbors for such statements. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond the control of the Company that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. These factors include adverse economic conditions, entry of new and stronger competitors, inadequate capital, unexpected costs, and failure to gain product approval in foreign countries and failure to capitalize upon access to new markets. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events. These factors and others are discussed in the ''Management's Discussion and Analysis'' section of the Company's Reports on Form 10-KSB for the fiscal year ended December 31, 1998 to which reference should be made.
SOURCE: eSoft Inc. |
