PenMagic Software Inc. Enters Licensing Agreement with Apple Computer Inc.
BOSTON — July 30, 1993 — PenMagic Software Inc. announced today at MacWorld Expo that it has entered into a product licensing agreement with Apple Computer Inc.
PenMagic, Money Magazine and Apple Computer have worked together to develop Money Magazine Business Forms and Money Magazine Financial Assistant, two financial applications developed by PenMagic for Newton, Apple's Personal Digital Assistant (PDA). Apple has the exclusive license to market the two applications for all PDAs using the Newton operating system.
PenMagic is one of a handful of software developers selected to team with Apple in providing applications for the Newton, which begins shipping this month.
''As one of the early developers for Newton, PenMagic will provide financial software to a wide range of new customers who have not previously purchased computers, advanced financial calculators or personal organizers,'' said Norm Francis, president of PenMagic Software Inc.
''In developing this new market with Apple, the business opportunity for PenMagic is enormous and will continue to be a major focus of our company's development efforts.''
PenMagic has worked closely with Apple and Money Magazine to define the forms and financial calculation requirements of Newton users both in personal and business applications. Money Magazine Business Forms and Money Magazine Financial Assistant are designed specifically to meet these requirements and are optimized for Newton.
Specifically, complex and sometimes confusing financial calculations become second nature to non-experts and mobile professionals, using a unique user interface designed by PenMagic. PenMagic has also developed a special software tool based on NewtonScript which automates the creation of forms and electronic calculation paper.
Money Magazine Business Forms is a collection of 14 intelligent business forms designed to efficiently complete, outside of the office, tasks such as sales orders, invoices, estimates, time billings and expense tracking. Users write data with a pen onto a paper-like electronic form called a ''chit'' specially designed for Newton's screen.
Business Forms automatically organizes, sorts, and categorizes the data, makes calculations, and remembers information so users don't have to rewrite it on other forms.
Money Mazagines Financial Assistant is a financial calculation application designed for personal and business use. The application comes with 45 pieces of smart digital paper to complete a wide range of financial tasks, including currency conversions; borrowing and interest calculations; bond yields; purchasing power and inflation analysis; investment, education and retirement savings calculations; and comparisons of leasing to buying.
Financial Assistant also provides smart digital forms for budgeting, recording and reconciling a checkbook. Financial Assistant is significantly faster and more accurate than using paper, and easier to use than a complicated financial calculator or computer.
Money Magazine Business Forms and Money Magazine Financial Assistant will be available through Apple Computer's existing retail channels in Fall 1993. Suggested retail prices for Money Magazine Business Forms and Money Magazine Financial Assistant will be $39.95 and $99.95, respectively.
PenMagic Software Inc. is a privately held company based in North Vancouver, British Columbia, Canada. Founded in September 1990 by a team of personal computer industry veterans and financially backed by leading venture capital firms including Kleiner Perkins Caufield & Byers, the company's vision is to create new, better ways for people on the move to use pen computers as a tool.
The company's current products, which include Numero, Numero Executive Assistant, and The Numero Software Developer Toolkit, combine the familiarity and directness of pen-on-paper with behind-the-scenes software intelligence that helps people get their jobs done quickly, wherever they work, with the stroke of a pen.
CONTACT:
PenMagic Software Inc., North Vancouver
Ron McIntyre, 604/988-9982
Eastwick Communications
Nancy Blake, 415/306-4192