12/9/98 1:18:17 PM Pacific Standard Time
Informix Achieves SEC Approval, Clears Milestones Necessary for Red Brick Acquisition; Vote by Red Brick Shareholders Slated for December 31
MENLO PARK, Calif.--(BUSINESS WIRE)--Dec. 9, 1998--Informix(R) Corporation (Nasdaq:IFMX), the technology leader in enterprise database-powered solutions, today announced the Securities and Exchange Commission has declared effective the company's Form S-4 Registration Statement for the acquisition of Red Brick Systems (Nasdaq:REDB), The Data Warehouse Company(R).
The complementary strengths of Informix and Red Brick will provide customers with industry leading decision support solutions to gain maximum competitive advantage.
Other conditions necessary for the acquisition also have been satisfied. These include receipt of the Hart Scott Rodino Act clearance from the U. S. Government to acquire Red Brick Systems and the completion of an independent audit of Red Brick's financial results for the first three quarters of 1998.
Red Brick's stockholders will meet on December 31, 1998 at 8:00 a.m. to vote on the proposed acquisition; a proxy will be sent to Red Brick stockholders of record as of December 3. The acquisition is expected to close on December 31, 1998, following the Red Brick stockholders' meeting.
Informix's acquisition of Red Brick combines two companies with a shared corporate vision: to provide open end-to-end solutions for customers' decision support needs, and to provide a culture of technical innovation that solves the most complex data warehousing problems.
As previously announced, under the terms of the agreement, each share of Red Brick common stock will be exchanged for 0.6 share of Informix common stock and Informix will assume all outstanding Red Brick options. The acquisition is subject to several conditions, including those that were identified as having been satisfied in today's announcement and the approval of Red Brick stockholders.
About Informix
Informix Corporation, the world's database technology leader based in Menlo Park, provides innovative database products that assist the world's major corporations attain competitive advantage. Informix is widely recognized as the technology leader for corporate computing environments ranging from small workgroups to very large parallel processing applications.
Informix's database server, application development tools, superior customer service, and strong partnerships enable the company to be at the forefront of major information technology solution areas including data warehousing, high performance OLTP, and Web/E-Commerce. For more information, contact the sales office nearest you or visit our Web site at informix.com.
About Red Brick
Red Brick is a premier provider of data warehousing solutions. Through Red Brick DecisionScape(SM), a comprehensive, integrated environment of products, services, methodology and partnerships, Red Brick helps its customers and partners improve the quality, speed and accuracy of their business decision-making. Red Brick's leading expertise and innovative, server-integrated technology deliver scalable decision support solutions for data warehousing, data marts, OLAP and data mining.
The following are trademarks of Informix Corporation or its affiliates: Informix(R), and the Informix logo is registered with the United States Patent and Trademark Office.
Information about Red Brick is available on the World Wide Web at www.redbrick.com. News releases and corporate background information may also be retrieved by fax. For an index of available materials, please call 800/758-5804, and enter PIN No. 105756. Red Brick, the Red Brick logo, and The Data Warehouse Company are registered trademarks, and Red Brick DecisionScape is a service mark and trademark of Red Brick Systems, Inc. All other trademarks are the property of their respective owners.
This public announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or anticipated results. Investors and potential investors should review carefully the description of the risks and uncertainties which, together with other detailed information about Informix Corporation, is contained in the periodic reports that Informix files from time to time with the Securities and Exchange Commission.
The risks and uncertainties include, but are not limited to: the ability to successfully integrate the Company's and Red Brick's operations; the restatements of the Company's financial statements; growth rates, fluctuations in quarterly results and the seasonality of the Company's business; the Company's dependence upon and ability to attract and retain qualified personnel; risks and uncertainties associated with preferred stock financings; competition and technological changes in the Company's business; international operations and currency fluctuations; the Company's dependence upon proprietary technology; the potential need for additional financing; and pending private securities litigation.
This public announcement contains information that is accurate as of December 7, 1998, the date of the public announcement. The Company disclaims any obligation to update or correct the information as a result of financial, business or any other developments occurring after December 7, 1998.
Note to Editors: Informix news releases are available at no charge through Business Wire's NewsOnDemand fax service. To immediately receive an index of available releases, call 1-800-356-0851.
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CONTACT:
Wilson McHenry Company (Editorial Contact)
Stephen Jones, 650/356-5200
sjones@wmc.com
or
Informix Software, Inc. (IR Contact)
Kate Patterson, 650/926-6809
katep@informix.com
or
Red Brick Systems, Inc.
Carolyn Hughes, 408/399-7216 (Editorial Contact)
chughes@redbrick.com
or
Rebecca Kreps, 408/399-7824 (IR Contact)
rkreps@redbrick.com |
