Vancouver, Canada, June 28, 2000
Pivotal combines breakthrough analytics technology with leading Microsoft-based eBusiness solution
— Pivotal Corporation (Nasdaq: PVTL), The eBusiness Relationship Company, today announced that it has completed the acquisition of Simba Digital Conversations™, a division of Simba Technologies Inc. The definitive agreement to acquire 100 percent of Simba Digital Conversations was announced on May 31, 2000.
Simba Digital Conversations president and CEO Kirk Herrington, has been appointed to the position of VP of advanced technology and deputy CTO of Pivotal, reporting to Norm Francis, president and CEO, Pivotal.
Under the terms of the agreement, Pivotal paid approximately US$15 million for all of the issued and outstanding shares of Simba Digital Conversations by issuing approximately 538,000 of its shares, and by assuming obligations under the existing option plan. The transaction will be accounted for as a purchase.
"Pivotal is pleased to announce the closing of the acquisition of Simba Digital Conversations. This acquisition represents another major advancement in Pivotal's strategy to provide a complete and robust eBusiness solution that will drive a new generation of personalized Web sites," said Norm Francis, president and CEO, Pivotal Corporation. "Combined with Pivotal's award-winning Pivotal eRelationship 2000 solution, the Digital Conversations technology will fundamentally change the way business relationships are conducted over the Internet."
The Digital Conversations technology is a powerful solution that aggregates and analyzes all Internet customer interactions such as email messages, Web chat sessions and Web site surfing - into a single, integrated "digital conversation". eMarketing professionals will be able to analyze the rich, meaningful data from Internet activity to develop a comprehensive perspective of each customer's preferences, needs and behavior trends. As a result, eMarketers will be able to anticipate buying patterns and tailor eMarketing campaigns to successfully encourage buying decisions. This technology will be available on a stand-alone basis and integrated with the Pivotal eRelationship 2000 and Pivotal eSelling 2000 product suites.
Pivotal Corporation, The eBusiness Relationship Company, enables organizations, globally, to increase revenue and improve customer loyalty by providing highly scalable, Microsoft-based Internet solutions for managing relationships between customers, employees, and business partners. Pivotal's eRelationship 2000 solution provides integrated applications for eSelling, eMarketing, eCommerce, and eService, and an industrial-strength Internet platform for building and deploying personalized, intelligent Web sites for customers and business partners integrated with context-sensitive Web portals for front-office employees. Pivotal solutions are designed for Web, wireless and hosted deployment, and are provided on a flexible license, lease, or subscription basis to support a wide variety of business models.
Pivotal solutions are sold in 34 countries and available in English, French, German, Spanish, Portuguese, Swedish, Japanese and Chinese. Pivotal's worldwide customer base includes more than 800 organizations in traditional, commercial and public market sectors and the new digital economy, including KPMG, CornerDrugstore.com, Ericsson, Medpool.com, Nissan Motor Corp., HarperCollins Publishing, Deutsche Bank, Trader.com, Southern Company, Lucent Technologies, NEC, Deloitte & Touche, Principal Financial Group and Red Cross Australia.
Pivotal is a public company traded on the NASDAQ under the symbol "PVTL" and can be found on the Web at http://www.pivotal.com.
This press release contains forward looking statements including statements about the capability of the combined solutions of Pivotal and Simba Technologies Inc. to change the way business relationships are conducted over the Internet and the role this acquisition will play in furthering Pivotal's strategy to provide an electronic business solution that will drive a new generation of personalized Web sites. These statements are based on management's current projections, beliefs and opinions at the date of this press release. Actual results could differ materially from those anticipated in these statements due to a number of risks, uncertainties and other factors, such as unanticipated difficulties in integrating Pivotal's and Simba's businesses, the possibility of technical difficulties or delay in integrating Simba's technologies with Pivotal's products, in completing and releasing software solutions incorporating Simba's technology or future product introductions and improvements, the possibility that competitors will introduce new and improved products and services that are superior to Pivotal's and Simba's combined products and the need to compete successfully with existing and new products and services offered by competitors. Pivotal undertakes no responsibility to update forward looking statements if circumstances or management's projections, beliefs of opinions change.