Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Phoenix Technologies (PTEC) -- Ignore unavailable to you. Want to Upgrade?

To: Ed Flynn who wrote (3620)	2/20/2001 9:28:08 AM
From: Ed Flynn	Read Replies (1) \| Respond to of 3624

Tuesday February 20, 9:24 am Eastern Time Press Release Phoenix Technologies Announces the Re-Purchase of Outstanding Warrants SAN JOSE, Calif.--(BUSINESS WIRE)--Feb. 20, 2001--Phoenix Technologies Ltd. (Nasdaq:PTEC - news), the global leader in system software products for connected digital devices, today announced that it has re-purchased from Intel Corp. an outstanding warrant to purchase 1,073,965 shares of Phoenix Technologies common stock. The warrant was issued to Intel in February 1996 as part of a transaction in which Intel also purchased unregistered shares of Phoenix Technologies' common stock. The exercise price of the warrant was $15.22 per share and was retired by Phoenix for approximately $2.9 million. ``I view this transaction as a very positive event, since it eliminates the potential dilution of the warrant to our existing shareholders,'' said John M. Greeley, senior vice president and chief financial officer. About Phoenix Platformware Phoenix is the global leader in ``platformware'', system-enabling software solutions for PCs and connected digital devices in the Age of Digital Convergence. The company's BIOS platformware has been licensed to more than 800 satisfied customers worldwide and is designed into millions of industry standard desktop, notebook and server PCs sold annually. In addition, Phoenix platformware has been incorporated into next generation embedded systems and leading information appliances. Phoenix products and services play a critical role in linking computing and communications technologies for OEM developers and manufacturers of connected information devices of all types. The company's customers and partners rely on Phoenix @ the Core of their new product and digital LOB initiatives based on the company's proven track record in enabling the open architecture PC industry. Platformware Services Phoenix has expanded its offerings to include ``platformware'' e-services via its PhoenixNet division. PhoenixNet e-services are delivered in partnership with leading portal, e-commerce and application software partners around the world. PhoenixNet's new SecurityFabric(TM) and follow-on services are designed from the ground up to enhance the overall ``platform-level security'' of digital devices, PCs, operating systems and applications in an environment of ``always-on'' networks and exploding e-transactions. ``Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. Factors which could cause actual results to differ materially from those in the forward-looking statements are also discussed in the company's filings with the Securities and Exchange Commission, including its recent filings on Form 10-K, filed Dec. 19, 2000, and Form 10-Q, filed Feb. 13, 2001. Note to Editors: Phoenix Technologies and PhoenixNet are trademarks and Phoenix is a registered trademark of Phoenix Technologies. All other trademarks are the property of their respective owners. -------------------------------------------------------------------------------- Contact: Phoenix Technologies Ltd., San Jose John M. Greeley, 408/570-1000 John_Greeley@phoenix.com or Michele Cogar (investor relations), 408/570-1319 Michele_Cogar@phoenix.com