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This company just acquired one of the most popular ftp software packages on the market. GlobalSCAPE Acquires One of Internet's Most Popular FTP Software Programs; Approximately 4 Million Users Worldwide SAN ANTONIO--(BUSINESS WIRE)--Jan. 26, 1999--GlobalSCAPE Inc., a wholly owned subsidiary of American TeleSource International Inc. ("ATSI") (OTC BB:AMTI), announced today its purchase of CuteFTP(tm), the world-renowned File Transfer Protocol ("FTP") software. Prior to ownership, GlobalSCAPE maintained an exclusive 25-year agreement for worldwide marketing and distribution rights. GlobalSCAPE's CuteFTP(tm) software gives Internet users the ability to quickly upload, download, transfer and edit files on and between FTP servers around the world. It is a Windows(R) based software allowing users the capability of FTP without having to know the technical details of the protocol itself. CuteFTP(tm) is marketed and distributed electronically (on-line) over the Internet. The product is so easy that nearly 4 million Internet users have made it their FTP software of choice. Currently, CuteFTP averages more than 15,000 downloads of its software per day, many of which originate from leading shareware sites including Yahoo (NASDAQ:YHOO), Download.com, TUCOWS, Dave Central, Slaughter House, Winfiles.com, Strouds, Ntware, 32bit.com, Jumbo, ZDNET, BetaNews and Softseek. Sandra Poole-Christal, GlobalSCAPE's president, stated, "The acquisition eliminates costly royalty payments associated with prior distribution rights and will improve our already positive monthly earnings. We believe securing ownership of CuteFTP(tm), combined with our anticipated launch of a suite of complementary Internet products, will position GlobalSCAPE to capture its share of this explosive market. "Our current user base represents roughly 2% of the estimated 200 million Internet users today, a market that is expected to reach approximately 900 million by the year 2003. Total industry-wide on-line sales for 1998 were approximately $14 billion, with hardware, software and computer-related products representing the majority of purchases. According to a recent Forbes article, industry-wide on-line sales are expected to reach as high as $115 billion by the year 2005." Arthur L. Smith, ATSI's Chairman and CEO, stated, "Being a profitable, 100% owned asset of ATSI and given today's marketplace for Internet companies, we are excited about the added value GlobalSCAPE potentially brings to ATSI's stockholders." CuteFTP(tm) has been featured in popular periodicals such as PC Magazine and Yahoo! Internet Life, and its impressive user base includes some of today's distinguished industry leaders: Microsoft (NASDAQ:MSFT), Compaq (NYSE:CPQ), Gateway (NYSE:GTW), MCIWorldCom (NASDAQ:WCOM), Intel (NASDAQ:INTC), Sony (NYSE:SNE), General Electric (NYSE:GE), Xerox (NYSE:XRX), IBM (NYSE:IBM), AT&T (NYSE:T), Wells Fargo (NYSE:WFC), Baxter (NYSE:BAX), Lockheed Martin (NYSE:LMT), Allied Signal (NYSE:ALD) and Eli Lilly (NYSE:LLY). Founded in 1996, GlobalSCAPE is rapidly becoming a leader in electronic commerce of top Internet-based software. GlobalSCAPE uses the Web as an integral component of its development, marketing, distribution and customer relationship strategies. | ||||||||||||
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