Spyglass Acquires AllPen Software
NAPERVILLE, Ill. — November 17, 1997 — In a strategic move that bolsters its Internet expertise, technology offerings and customer base, Spyglass Inc. (Nasdaq: SPYG) announced today the acquisition of privately-held AllPen Software, Inc. AllPen, based in Los Gatos, Calif., is a leading systems integration and software development firm focused on Internet technology for non-PC devices. In consideration of the acquisition, Spyglass will issue 640,000 shares of common stock and convert AllPen outstanding stock options into 360,000 Spyglass common stock options. The transaction, which has closed, will be accounted for as a pooling of interests.
According to Spyglass President and CEO Doug Colbeth, AllPen's extensive experience in providing Internet device solutions, particularly in the areas of Java, Windows CE and mobile technologies, fit nicely with Spyglass' mission of making all devices work with the Web. web.
"AllPen is one of the fastest-growing players within the Internet device marketplace. They have a proven track record of delivering solutions to companies like Apple, Daimler-Benz, 3Com/Palm Division and Hewlett-Packard, just to name a few," Colbeth said. "This deal significantly enhances Spyglass' ability to deliver comprehensive solutions to our customers. It will also allow us to aggressively expand our professional services organization to meet the overwhelming demand for services in the Internet device marketplace."
"AllPen strengthens Spyglass' leadership position within the Internet device market," said Paul Zorfass of International Data Corp. "In AllPen, Spyglass gets a compelling provider of Internet device solutions. The acquisition enhances Spyglass' expertise, adds technology and gives them an expanded professional services presence in the Silicon Valley. We think Spyglass is poised to be an even more significant force in this market."
"As a customer, we are very pleased to hear this news," said Lou Lenzi, Vice President of Multimedia Services of Thomson Consumer Electronics. "The work that Spyglass did, with support from AllPen, on our Electronic Program Guide was exemplary. The two companies have worked extremely well together in the past and the added resources and expertise that AllPen brings to Spyglass will enhance their value proposition to customers, such as Thomson."
Colbeth cited a number of reasons why the acquisition makes strategic sense for Spyglass:
— Expands Expertise in Key Technology Areas – Significantly expands Spyglass' wireless, Java, and Windows CE engineering and market expertise.
— Strengthens Spyglass Technology Portfolio – Adds complementary products to Spyglass' technology portfolio, including embedded browser and server technologies, and Java server technology.
— Expands Professional Services Organization – Gives Spyglass a fast-growing and profitable professional services presence in the Silicon Valley.
— Adds Marquee' Customers that Can Be Leveraged in the Future – Brings Spyglass a strong customer base and on-going business relationships with marquee' players such as Sun, Apple, 3Com/Palm Division, Sony, Hewlett-Packard, Siemens, Motorola, Philips, American Airlines, Baxter, Ford Motor Co., Johnson & Johnson, Monsanto and Time Warner, among others.
"We think the synergy between Spyglass and AllPen is ideal," said Wayne Yurtin, Co-founder of AllPen Software, Inc. "We chose Spyglass because their business strategy is a great fit for what we are trying to accomplish at AllPen. We have seen first hand the explosion of the Internet device marketplace. By combining our technologies and solutions consulting expertise with Spyglass, and their professional services group, we are poised to take full advantage of this growth arena. We think Spyglass is ideally positioned for significant growth in a market that holds huge potential and we're happy to be able to contribute to that effort." Yurtin pointed out that opportunities with AllPen's existing customer-base can be fully leveraged because Spyglass can offer more resources and technologies to address projects.
Spyglass Inc.
Spyglass is the leading provider of software and services to make non-PC devices work with the Web. Market leading device manufacturers that have licensed products and services from Spyglass, include Xerox Corp. for a new line of copiers; GTE for a new line of Web screen phones; Nokia for systems to accelerate wireless communications; and Thomson Consumer Electronics (owners of the RCA, ProScan and GE brands) for a new generation of RCA television set-top boxes. Spyglass headquarters are located at 1240 East Diehl Road, Naperville, Illinois 60563; telephone: 630-245-6500; fax: 630-245-6693; press email inquiries: rpitzer@spyglass.com; Web site: http://www.spyglass.com.
Spyglass and the Spyglass logo are registered trademarks of Spyglass, Inc. "Make the Net Work" is a trademark of Spyglass, Inc. in the United States and other countries. Mosaic is a trademark of the University of Illinois. (Other products and brand names are trademarks of registered trademarks of their respective companies.) This release contains information about management's future expectations, plans and prospects which constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors which are discussed in the company's annual report on Form 10-K for the year ended September 30, 1996, which is on file with the SEC.
SOURCE Spyglass, Inc.
CONTACT:
Randy Pitzer, media, 630-245-6500, or rpitzer@spyglass.com, or Chandler Bigelow, investors, 630-245-6656, or cbigelow@spyglass.com, both of Spyglass, Inc. inc.