INTU GMGC holding hands....
Monday November 9, 4:02 am Eastern Time
Company Press Release
General Magic Announces Exclusive Agreement With
Intuit
Agreement Utilizing Portico's magicTalk Voice Platform Will Allow Quicken.com Users First-of-Its-Kind Voice Access to Personal Financial Information SUNNYVALE, Calif.--(BUSINESS WIRE)--Nov. 9, 1998-- General Magic, Inc. (Nasdaq:GMGC - news) today announced an exclusive agreement with Intuit, Inc. (Nasdaq:INTU - news), which marks the first-of-its-kind web-based application of voice activated access to personal financial content and information.
Under terms of the agreement, Intuit will use the magicTalk(TM) voice platform from General Magic, allowing millions of Quicken.com(TM) users to have voice command access to financial information. The agreement also provides expanded services to both companies' customers, and marks an important milestone in each company's internet-focused business strategies. General Magic will run the service from its Portico network operations center in Sunnyvale, Calif.
''This landmark agreement with Intuit will allow us to provide Quicken.com users access to financial information by just using
their voice and any telephone,'' said Steve Markman, president, chairman and chief executive officer of General Magic, Inc.
''It's an important step in establishing our magicTalk platform as the de facto standard for voice access to the Internet. And by working with Intuit, the leading provider of financial services on the Internet today, we can leverage its growing user base and their position in financial services.''
Expected to be available in early 1999 on a limited basis, the service will be accessible through any telephone 24 hours a day, seven days a week. General Magic will be offering tiered levels of service for the Quicken.com user base.
Quicken.com will also become an integral part of Portico, allowing subscribers to access their personal financial information, enhanced banking features, as well as the convenient array of Portico services including integrated voice mail, e-mail, address book and calendar information.
''We are thrilled to offer our users this unique, personality-rich voice interface to access their personal financial information,''
said Brooks Fisher, general manager and vice president of community and marketspaces for Quicken.com.
''The relationship with General Magic will provide Quicken.com customers greater convenience and functionality in managing their personal portfolios. We look forward to working with General Magic to make this service available to our users and theirs.''
In accordance with U.S. securities law, General Magic notes that this press release contains forward-looking statements. There are risks that may cause actual results to vary materially. These risks include, but are not limited to, the challenges inherent in the development and delivery of complex technologies; market acceptance of the Company's Portico service and its magicTalk voice user interface platform; the Company's dependence on establishing distribution relationships; the Company's ability to respond to competitive pressures and the Company's reliance on attracting, retaining and motivating key technical, marketing and management personnel. These and other risk factors are detailed in General Magic's 1997 Form 10-K, and second quarter 1998 Form 10-Q filed with the Securities and Exchange Commission.
About General Magic
General Magic offers integrated voice and data applications making communication and access to information easy and convenient for people, no matter where they are. The company's development efforts are founded on its patented agent technology, innovative user-interface and communication-centric designs to provide simple, yet effective ways for people to keep in touch with the information they need to be successful.
The company is headquartered in Sunnyvale, Calif. For more information on General Magic, please visit the Company's Web site at generalmagic.com.
About the Portico Service
Designed for today's mobile professional workforce, the Portico service enables users to access, retrieve and act upon information using any telephone and a normal speaking voice. The only second generation virtual assistant available today, Portico integrates voice mail, email, address book and calendar as well as content available on the Internet, such as company news and stock quotes.
Information may be accessed over any telephone using magicTalk, General Magic's intelligent, natural language voice user interface, or through any leading Web browser.
About Intuit
Intuit Inc. intuit.com, a financial software and Web-based services company, develops and markets Quicken(TM), the leading personal finance software; TurboTax(TM), the best-selling tax preparation software; and QuickBooks(TM), the most popular small business accounting software. Intuit's Quicken.com Web site offers a complete set of personal finance news, information and tools, including retirement planning resources and the leading mutual fund and insurance sites.
About Quicken.com
Quicken.com quicken.com, a leading online finance site, brings together tools, resources and expertise to help empower consumers to make confident investment and financial choices. Once consumers have determined their financial needs, Quicken.com can help them reach a solution for all areas of personal finance management, including investments, insurance, tax and mortgage. All of which is available for FREE! |
