Ottawa, Ontario -- September 10, 1996 -- In a move that solidifies its position as a major player in the electronic forms software market, JetForm Corporation (NASDAQ:FORMF) has acquired Delrina Group’s electronic forms business from Symantec Corporation (NASDAQ:SYMC).
The acquisition gives JetForm immediate full ownership and rights to all of Delrina Group’s electronic forms-related products and technology. As part of the transaction, JetForm also acquires 65 people from the Delrina Group. Over half of these employees are involved in R&D activities based in Toronto, Canada. JetForm has agreed to pay approximately US$ 100 million over a period of four years which has a net present value of approximately US$ 65 million. Payment will be made quarterly in cash or stock (at JetForm’s option) over the next four years.
“Today’s agreement furthers JetForm’s already strong presence in the electronic forms and messaging-based workflow markets,” stated John Kelly, President and Chief Executive Officer of JetForm Corporation. “As a result we can better provide new and existing customers with a seamless growth path for their electronic forms solutions in every market segment with an emphasis on Internet, workflow and design software.”
“With today’s announcement, our customers will now have the ability to acquire leading electronic forms design products and the most advanced messaging-based workflow and server technologies,” said Gordon E. Eubanks, Jr., Symantec’s President and Chief Executive Officer. “JetForm is committed to a long term enterprise wide electronic forms solution and I believe our customers will be well served as a result of this relationship.”
The acquisition will more effectively leverage the research and development, sales, marketing and service and support for the Delrina product line which includes PerForm and FormFlow electronic forms, and workflow software product families. Additionally, the terms of the agreement give JetForm access to all current Symantec electronic forms and workflow customers.
The Delrina products will complement and enhance the current JetForm family of electronic forms and workflow software which includes JetForm Design, JetForm Filler, JetForm FillerPro, JetForm Central and JetForm Workflow which are integrated with the World Wide Web.
“The JetForm/Symantec agreement is a definite win-win for customers across the board,” Kelly further added. “The combined strengths and focus from both these companies on delivering world class forms and workflow solutions will give organizations a clear choice as they move forward implementing their solutions locally, globally and on the Web.”
About Symantec Corporation
Symantec Corporation develops, markets and supports a complete line of application and system software products designed to enhance individual and workgroup productivity as well as manage networked computing environments. The company is headquartered in Cupertino, California, and sells its software worldwide. Symantec can be contacted for more information through its Internet Web site at http://www.symantec.com.
Delrina Group of Symantec Corporation designs, develops, markets and supports innovative PC software products in the fax, data and voice communications software markets. Delrina is recognized as the world leader in PC fax software. Delrina can be contacted for more information through its Internet Web site at http://www.delrina.com.
About JetForm Corporation
JetForm Corporation, headquartered in Ottawa, Ontario, is a technology innovator in providing solutions that streamline business processes. A global leader in electronic forms automation worldwide, JetForm has major offices in the United States, the UK, France, Germany, Sweden, Singapore, Australia, and New Zealand. JetForm products, design, fill, route, print and manage forms, helping organizations reduce costs and increase efficiency by automating forms processing across local and wide area networks as well as the Internet.
For more information about JetForm, please call: 1-800-538-3676 or 1-613-230-3676, visit the JetForm Web site at email@example.com.
Note To Editors: If you would like additional information on Symantec Corporation and its products, please view the Symantec Press Center at http://www.symantec.com/PressCenter/ on Symantec's website.
Product and Ordering Information:
Symantec Corporation, 10201 Torre Avenue, Cupertino, CA 95014 USA
(800) 441-7234 or (541) 334-6054