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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: HandsOn who wrote (48455)	6/3/1999 5:21:00 PM
From: Junkyardawg	Respond to of 90042

WoW!! News out after the bell on DCTI!!! ACI Worldwide to Market ElectronicCommerce Solution From Digital Courier June 3, 1999 05:05 PM OMAHA, Neb.--(BUSINESS WIRE)--June 3, 1999--ACI Worldwide, a leading international provider of EFT processing applications, announces that it has entered into an exclusive agreement with Digital Courier Technologies, Inc. DCTI to relicense Digital Courier's proprietary electronic commerce technologies to ACI customers worldwide. ACI will use the technology to help its customers extend existing payments infrastructures into the rapidly growing world of business-to-consumer electronic commerce. ACI is granted an exclusive worldwide right to market Digital Courier's e-commerce payments technology. This technology is in use today in Digital Courier's e-commerce processing centers, supporting a wide range of merchants conducting business on the web, domestically and internationally. The solution includes all aspects of handling payments over the web, including value-added features in areas like customer service, merchant reporting and management, and web-centric fraud detection and management. ACI will integrate the Digital Courier solution with its BASE24(R), WINPAY24(TM) and related products, as part of its i24(R)-payments strategy. "We are extremely excited about this new agreement with Digital Courier, an emerging force in the e-commerce payments industry. The business-to-consumer e-commerce market is exploding, and we're committed to providing our customers with the best in web-centric technologies, to allow them to enter this market in a cost-effective, high-quality fashion," said Jeffrey S. Hale, senior vice president of Strategic Business Development for Transaction Systems Architects, Inc--ACI's parent company. "Clearly, there is significant momentum in the market around e-commerce. This new solution, which we will integrate with our broad range of payments products, including value-added products in areas like payments settlement, fraud management and back-office processing support, will enable our customers to enter the e-commerce space with the most feature-rich solutions available in the market. As our customers move to the web, they want their new solutions integrated with their current payments infrastructure, to avoid the pitfalls associated with multiple payments platforms, back-office inefficiencies and exposure to fraud. "The combination of Digital Courier's e-commerce technology and ACI's best-of-breed payments processing solutions will represent the finest web-enabled payments capabilities available in the market," Hale added. "The result will be the first end-to-end 'payments portal,' positioned to allow our customers to not only offer web-based features to their consumers, but support them with the most robust infrastructure possible, resulting in efficient, high-quality operations. We believe that this total solution will dramatically raise the bar on the services our customers can deploy in this emerging space." "We are thrilled to enter into this strategic relationship with ACI, a world leader in this industry," said Mitchell Edwards, chief financial officer of Digital Courier Technologies. "ACI's global reach will bring much greater exposure to our e-commerce technology than we would likely achieve on our own. We view this as a long-term strategic partnership that takes advantage of our respective competitive strengths." ACI Worldwide helps the world move money with software products developed for consumer banking, corporate banking, retail solutions and system solutions. As the distribution and support division of Transaction Systems Architects, Inc. TSAI , ACI Worldwide maintains operations in the Americas, Europe/Middle East/Africa and Asia/Pacific and is a leading international provider of software for electronic commerce and electronic payments. ACI Worldwide distributed solutions are used by more than 2,100 customers in 75 countries. Visit ACI Worldwide on the Internet at www.aciworldwide.com. Digital Courier Technologies, Inc. supplies financial institutions, businesses and major web portals with sophisticated e-commerce, payment processing and content delivery software. Its netClearing division and its Access Services subsidiary offer sophisticated and secure credit card and payment processing services and technology on the Internet.

To: HandsOn who wrote (48455)	6/3/1999 5:22:00 PM
From: woody	Read Replies (1) \| Respond to of 90042

News on CS not anything too big but news..... Cabletron accounting change ups intangible assets ROCHESTER, N.H., June 3 (Reuters) - Cabletron Systems Inc. (NYSE:CS - news) said Thursday it has increased intangible assets $125.7 million in an additional response to the questions about its acquisition accounting. The company said this amount will be amortized over the next five to ten years, adding noncash amortization charges will increase about $4.5 million per quarter for the period. It pointed out these charges will have no impact on the company's operating performance or cash flow. In addition, Cabletron said, it revised reported results for the past three years, increasing the loss for the year ended February 1999, reducing 1998's loss and increasing fiscal 1997's profit. The staff of the Securities and Exchange Commission has indicated, following these additional revisions, it has no further comments on Cabletron Systems' financial statements. As the company disclosed in mid-October, the SEC staff had commented on Cabletron's acquisition accounting, focusing on the characterization and timing of charges and to the allocation of he purchase price between in-process research and development and other intangible assets. In connection with the acquisition of the Network Products Group of Digital Equipment Corp. in the fourth quarter of fiscal 1998, Cabletron said, it agreed to cut the in-process research and development allocation to $199.3 million from $325 million, resulting in the $125.7 million increase. Company officials were not immediately available to say when the five to ten year amortization period began. Cabletron's statement pointed out these changes are in addition to the $33.2 million reduction in special charges recorded in fiscal 1998's fourth quarter in connection with the acquisition. This reduction was reported in October. The company said it has also reduced the amount of the purchase price allocated to in-process research and development in connection with the fiscal 1999 acquisitions of the CSG division of Ariel, FlowPoint, and NetVantage to an aggregate of $67.4 million from $74.7 million, increasing the intangible asset allocation $7.3 million. Cabletron said it has reduced its 1997 inventory write-down relating to the ZeitNet acquisition by $6.0 million, recording the write-down in 1998 upon disposal of the inventory. It said these changes are reflected in its Form 10-K filed Wednesday along with restatements of net income as follows: -- 1997's net income was increased $4 million, or $0.02 per share, to $226.1 million, or $1.42 per share; -- 1998's loss was reduced $92.1 million, or $0.59 per share, to $35 million, or $0.22 per share; and -- 1999's loss was increased $5.4 million, or $0.04 per share, to $245.4 million, or $1.47 per share. The 1999 change reflects the reduced charges for in-process research and development associated with the fiscal 1999 acquisitions of $7.3 million offset by increased amortization of intangible assets of about $18.0 million, the company said.