ESOFT COMPLETES MERGER WITH TECHNOLOGIC INC.
Acquisition Delivers Proven Firewall, VPN and Security Expertise
BROOMFIELD, CO -- (INTERNET WIRE) -- 09/13/99 -- eSoft Inc. (NASDAQ Small Caps: ESFT), the
company that develops and markets TEAM Internet?, a Linux-based Internet access solution for small
businesses, today announced the completion of its merger with Technologic Inc.
The shareholders of Technologic Inc. unanimously approved the merger and the transaction was
completed on Friday, September 10, 1999. The combined companies will have approximately 80
employees with Technologic employees remaining in Atlanta. eSoft issued a total of 1,500,000 shares
of its common stock in the merger.
"This most recent merger shows our continued efforts to expand eSoft's product offerings through
mergers and acquisitions, which enable us to deliver solutions to our customers in a timely manner,"
said Jeff Finn, president and CEO of eSoft.
"We are pleased to join forces with Technologic, it has clearly proven its self to be an expert in the
areas of firewall security and VPN. By unifying eSoft and Technologic products, eSoft will offer its
customers an extended product line allowing for a time-to-market advantage. Additionally, we continue
to look for solutions that our resellers can gain increased incremental revenue streams and believe that
the Technologic products are very well suited for this purpose," added Finn.
"This is an important day for Technologic," said Brian Cohen, CEO and founder of Technologic. "We feel
that our years of research and development in security and VPN technology will complement the eSoft
product line, that will in turn continue to meet the demand for specialized products and technologies for
various Internet functions. We believe as one company, we will expand our customer base and
continue to grow as software providers of Internet tools and technology."
About eSoft Inc.
eSoft Inc. was founded in 1984 with headquarters in Broomfield, Colo. eSoft provides a family of
Linux-based 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, ICSA certified firewall security, a Web server, remote
access and virtual private network (VPN) functionality. 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.
The securities referred to in this press release have not been registered under the Securities Act of 1933 and may not
be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform
Act of 1995. These statements often can be identified by the use of terms such as "may," "will," "expect," "believe,"
"project," "estimate" or words of similar meaning. Readers should not place undue reliance on these forward-looking
statements, and eSoft will not necessarily update these statements to reflect subsequent developments. In addition,
these forward-looking statements are subject to risks, uncertainties and important factors that may cause actual results
to differ materially from those anticipated. These factors include eSoft's ability to combine its product line with products
acquired through acquisitions, adverse economic conditions, entry of new and stronger competitors, inadequate capital,
unexpected costs, failure to gain product approval in foreign countries, failure to capitalize upon access to new markets,
the possibility that a competitor will develop a more comprehensive or less expensive TEAM Internet solution and delays
in the market awareness of eSoft and its products. Readers should review these factors and others, which are
discussed in reports that eSoft files with the Securities and Exchange Commission.
Contact: Robyn Phipps, Metzger Associates
Voice: 303-786-7000
Email: robyn@metzger.com
or
Contact: Casy Jones, Metzger Associates
Voice: 303-786-7000
Email: cjones@metzger.com
or
Contact: Nina Piccinini, eSoft Inc.
Voice: 303-444-1600
Email: ninap@esoft.com |
