STERLING SOFTWARE TO ACQUIRE COREDATA
Dallas - Sterling Software, Inc. (NYSE: SSW), the leader in end-to-end enterprise storage management, today announced an agreement to acquire CoreData, Inc., one of the industry's leading developers and suppliers of backup software for remote and mobile PCs, in a cash acquisition. The companies anticipate completing the transaction in late July 1999. Other terms of the transaction were not disclosed.
"CoreData marks our 34th acquisition - and the second for our storage management business this year," said Sterling L. Williams, president and chief executive officer of Sterling Software. "We're especially excited about this acquisition because CoreData's primary market, the backup of mobile and remote PCs, is growing like wildfire. Today, hundreds of millions of dollars worth of critical corporate data is carried on laptops around the world. Now, Sterling Software will be able to protect that remote - but vital - data with an enterprise-class product."
As part of the transaction, Sterling Software will acquire RemoteWorxTM, CoreData's key product, which provides remote and mobile PC users with "automatic and invisible" data protection. Sterling Software also plans to incorporate this leading-edge technology into its other enterprise storage management products. The technology incorporates centralised data management, remote asset discovery and reporting technology - critical steps in addressing the problems associated with desktop storage management.
According to Mike Harvey, president of Sterling Software's Systems Management Group: "We understand what it takes to manage critical data and devices from end-to-end across the enterprise, and the PC has become a significant link in this chain. Where the device resides - a laptop on an airplane or a desktop in a branch office - is irrelevant. Managing and protecting the data, however, is extremely relevant. That's why this acquisition is so important to us. It will enable us to deliver storage tools that manage data and devices from the desktop to the data center, across a private network or the Internet."
Jim Parker, co-founder and president of CoreData, said: "We know we're joining a company that is deeply committed to the storage management market. As we continue the development of RemoteWorx, Sterling Software's vision, strategy, leadership and financial strength will ensure our combined success. Sterling Software's worldwide presence in storage management will also benefit CoreData's existing customers, partners and prospects."
RemoteWorx is the latest product to join Sterling Software's SAMS family of storage management tools. Recently, the company acquired SAMS:Alexandria, the high-performance UNIX and NT backup and media management product. Sterling Software's SAMS storage management products deliver unparalleled, field-proven management and control capabilities across the enterprise. These products help ensure that mission-critical storage systems are continuously available.
Founded in 1995, CoreData is a privately held company based in Phoenix, Arizona. In addition to developing backup software for remote and mobile computers, CoreData also develops OEM technology for integration into other industry-leading products. For more information on CoreData, visit the company's Web site at http://www.coredata.com.
Sterling Software is a leading provider of software and services for the application development, information management, systems management and federal systems markets. The company is ranked among Business Week's 1998 "Info Tech 100" as one of the world's best performing information technology companies. Headquartered in Dallas, Sterling Software has a worldwide installed base of more than 20,000 customer sites and 3,700 employees in more than 90 offices worldwide. For more information on Sterling Software, visit the company's Web site at http://www.sterling.com.
SAMS:AlexandriaTM is a trademark of Sterling Software, Inc. RemoteWorxTM is a trademark of CoreData, Inc.
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