Software Industry Announcements and News
Corel Corporation Directors Approve U.S.$4.00 per Share Tender Offer
[ Comments Off ] Posted on 11.28.09 under Business, Desktop Publishing
OTTAWA & SAN FRANCISCO–(BUSINESS WIRE)–Corel Corporation (NASDAQ:CREL; TSX:CRE) and Corel Holdings, L.P. (“CHLP”), a limited partnership controlled by an affiliate of Vector Capital, today jointly announced that the directors mandated by the Board of Directors of Corel Corporation (the “Company”) to act as the Board have unanimously determined to recommend, on behalf of the Company, that shareholders tender their shares pursuant to the CHLP tender offer.
The Company announced that the directors mandated to act on behalf of the Board have carefully reviewed the CHLP tender offer with the assistance of their financial and legal advisors. In addition, the Company announced that based on that review, the directors have unanimously determined that the U.S. $4.00 per share price offered by CHLP in its tender offer is fair to the minority shareholders and to recommend, on behalf of the Company, that shareholders tender their shares pursuant to the CHLP tender offer.
“We are delighted that the directors have resolved to support the tender offer” said Amish Mehta, partner at Vector Capital. “We have arrived at an outcome that will provide the minority shareholders with a significant premium for their shares and allow Corel to benefit from being an private company.”
The tender offer is scheduled to expire at midnight, New York City time on Wednesday, November 25, 2009.
The offer is conditioned upon, among other things, there being validly tendered and not withdrawn on or prior to the expiration of the offer a number of common shares of Corel Corporation representing at least a majority of the aggregate number of the outstanding common shares (calculated on a fully-diluted basis as of the date the shares are accepted for payment pursuant to the offer), excluding the common shares beneficially owned by CHLP and its affiliates, and the votes attaching to which shall be qualified to be included as votes in favor of any Subsequent Acquisition Transaction (as defined in the offer to purchase relating to the offer) in determining whether minority approval (as construed under applicable Canadian securities law) has been obtained in respect thereof (the “Majority of the Minority Condition”). The Majority of the Minority Condition is not waivable. The offer is not subject to a financing condition.
If the tender offer is successfully completed, CHLP will take steps as necessary to acquire all common shares not tendered in the offer at the same price per share as it paid in the offer, to de-register Corel as a public company and to thereby cause Corel to become a private company owned by CHLP.
Advisors
The Board has retained Genuity Capital Markets as its financial advisor and Bennett Jones LLP and Kaye Scholer LLP as its legal advisors. The Company has retained Woodside Counsel, P.C. as U.S. counsel, and Bennett Jones LLP, as Canadian legal counsel.
Innisfree M&A Incorporated is serving as information agent for the tender offer. Davis Polk & Wardwell LLP and Osler, Hoskin & Harcourt LLP are acting as legal counsel to Vector Capital and CHLP.
About Corel
Corel is one of the world’s top software companies with more than 100 million active users in over 75 countries. We develop software that helps people express their ideas and share their stories in more exciting, creative and persuasive ways. Through the years, we’ve built a reputation for delivering innovative, trusted products that are easy to learn and use, helping people achieve new levels of productivity. The industry has responded with hundreds of awards for software innovation, design and value.
Our award-winning product portfolio includes some of the world’s most widely recognized and popular software brands, including CorelDRAW(R) Graphics Suite, Corel(R) Painter(TM), Corel DESIGNER(R) Technical Suite, Corel(R) Paint Shop Pro(R) Photo, Corel(R) VideoStudio(R), Corel(R) WinDVD(R), Corel(R) WordPerfect(R) Office, WinZip(R), and the recently released Corel(R) Digital Studio(TM) 2010. Our global headquarters are in Ottawa, Canada, with major offices in the United States, United Kingdom, Germany, China, Taiwan and Japan.
About Vector Capital
Vector Capital is a leading private equity firm specializing in spinouts, buyouts and recapitalizations of established technology businesses. Vector Capital identifies and pursues these complex investments in both the private and public markets. Vector Capital actively partners with management teams to devise and execute new financial and business strategies that materially improve the competitive standing of these businesses and enhance their value for employees, customers and shareholders. Among Vector Capital’s notable investments are LANDesk Software, Savi Technology, SafeNet, Precise Software Solutions, Printronix, Register.com, Tripos and Watchguard Technologies. For more information, visit www.vectorcapital.com.
Intuit Provides Help to Microsoft Accounting Customers
[ Comments Off ] Posted on 11.27.09 under ASP Member Companies, Business
Conversion Tool Allows Small Business to Seamlessly Switch to QuickBooks 2010
MOUNTAIN VIEW, Calif.—Intuit Inc. (Nasdaq: INTU) is extending a helping hand to small businesses affected by the discontinuation of Microsoft Office Accounting, which will no longer be distributed after today.
The QuickBooks maker is providing a free conversion tool that will help former Microsoft users seamlessly transfer their small business accounting data to QuickBooks products.
The free QuickBooks Conversion Tool easily imports business data, balances and transactions so customers can continue running their businesses without missing a beat. It converts data from Microsoft Small Business Accounting and Office Accounting products through the 2009 versions into QuickBooks Pro, Premier, and Enterprise Solutions editions.
It can also convert Microsoft Office Accounting Express to QuickBooks Simple Start 2010. The tool includes a short and straightforward setup process, moving all data into a newly created QuickBooks file, leaving existing data untouched.
“We are committed to helping small businesses be as successful as possible,” said Kiran Patel, executive vice president and general manager of Intuit’s Small Business Group. “We know that many Microsoft customers will soon be looking for new accounting software so they can keep on top of their finances. The QuickBooks team will take them through the transition and help them streamline critical accounting tasks and connect to new online services as soon as possible.”
Assistance in Making the Transition
Intuit representatives are available at 1-866-676-9668 to assist Microsoft customers in making the transition and to provide advice on which QuickBooks product will best support their business. Further information is also available at:
http://quickbooks.intuit.com/product/about-quickbooks/switch.jsp.
QuickBooks 2010 is part of a family of financial software and services from Intuit. For more information on Intuit solutions, visit:
* Intuit QuickBooks Pro.
* Intuit QuickBooks Premier.
* QuickBooks Online.
* Intuit QuickBooks Enterprise Solutions 10.0.
Resources:
* Intuit Press Room
* Intuit on Twitter
* QuickBooks Overview
About Intuit Inc.
Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit’s leading tax preparation offerings for professional accountants. The company’s financial institutions division, anchored by Digital Insight, provides on-demand banking services to help banks and credit unions serve businesses and consumers with innovative solutions.
Founded in 1983, Intuit had annual revenue of $3.2 billion in its fiscal year 2009. The company has approximately 7,800 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.
Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries.
Go Daddy Drops Price of Extended Validation SSL to $99
[ Comments Off ] Posted on 11.20.09 under Business
Get a Better Product for a Fraction of Competitors’ Price
SCOTTSDALE, Ariz.–Go Daddy’s SSL Certificate business has been growing at a rapid pace. Respected analyst firm Netcraft LTD announced Go Daddy’s overall SSL market share has grown four times faster than VeriSign’s during the past year.[1] In fact, in September, Netcraft projected Go Daddy to pass long-time market leader VeriSign in less than 18 months. Now, Go Daddy is fueling its speedy growth with even lower pricing.
Go Daddy is now offering its EV SSL Certificate for $99. The identical security level through VeriSign costs more than $1,400.
SSL certificates provide server-to-browser-encryption, a padlock icon and “https” prefix to secure a Web site. An Extended Validation (EV) SSL certificate provides all this, plus gives Web site visitors extended reassurance a site is legitimate, including a more stringent vetting process and a browser bar that turns ‘green,’ signaling the site is “good to go.” Go Daddy’s EV SSL Certificates give consumers these benefits for significantly less than competitors.
“The reason for our growth is simple – our customers are smart enough to know they can get a world-class SSL Cert without having to pay through the roof,” said Go Daddy CEO and Founder Bob Parsons. “You could purchase 14 Go Daddy Certificates for the same price as a single VeriSign Cert, not to mention the great support our customers enjoy.”
In addition to the price and service advantages, Go Daddy’s EV SSL Certificates include an unlimited server license – only one EV SSL certificate is needed “per domain,” not “per server” like others. This can save Go Daddy customers significant time and money, while allowing them to focus on the business of serving their customers.
Go Daddy EV SSL Certificate customers also have the added bonus of securing their site instantly with a standard SSL certificate, which provides ‘peace of mind’ during the EV SSL certificate verification process.
With so-called Cyber Monday, the Monday after Thanksgiving, less than two weeks away, online security is as important as ever. In fact, shoppers are expected to spend $44.7 billion online this year during November and December.[2] This means merchants need to provide a secure shopping environment. Go Daddy’s EV SSL Certificate is the most efficient way to accomplish this.
To learn more about Go Daddy’s Premium Extended Validation, Deluxe High Assurance or Standard Domain Validated SSL Certificates, visit www.GoDaddy.com/SSL.
To learn how to build and grow your business online, visit www.GoDaddy.com.
[1] Netcraft LTD Secure Server Survey, Nov. 2009
[2] Forrester Research
About The Go Daddy Group, Inc.
Go Daddy is a leading provider of services that enable individuals and businesses to establish, maintain and evolve an online presence. Go Daddy provides a variety of domain name registration plans and Web site design and hosting packages, as well as a broad array of on-demand services. These include products such as SSL Certificates, Domains by Proxy private registration, ecommerce Web site hosting, blog templates and blog software, podcast packages and online photo hosting. The Go Daddy Group, Inc. has more than 37 million domain names under management. Go Daddy registers, renews or transfers a domain name every second. GoDaddy.com is the world’s No. 1 domain name registrar according to Name Intelligence, Inc. GoDaddy.com is also rated the world’s largest hostname provider according to Netcraft Ltd. During 2008, The Go Daddy Group registered more than one-third of all new domain names created in the top six generic top-level domains, or gTLDs, including .com, .net, .org, .info, .biz and .mobi.
Digital River Introduces Advanced Online Subscription Solution for Software and Game Publishers
[ Comments Off ] Posted on 11.17.09 under ASP Member Companies, Business, Development
Offers more sophisticated tools for building more predictable revenue streams
MINNEAPOLIS–Digital River, Inc. (NASDAQ:DRIV), a leading provider of global e-commerce solutions, introduced an advanced online subscription solution for software and game publishers. The new Digital River Subscriptions solution, which builds upon the existing subscription capabilities of Digital River’s global commerce engine, includes more sophisticated marketing capabilities and deeper administration functions. The new subscription features are designed to help publishers grow their global e-commerce businesses with a steadier, more predictable revenue stream.
Digital River Subscriptions offers more options to control and customize subscriptions and market renewals, more detailed performance data on subscription campaigns, and increased opportunities to raise renewal success rates. The enhancements are designed to reduce the costs of extending and retaining subscriber relationships as well as provide subscribers even more custom and localized experiences.
“The shift from offline to online subscriptions is happening in earnest among software and game publishers – and Digital River has the infrastructure and expertise to help publishers make this technology leap,” said Joel Ronning, Digital River’s CEO. “We’ve taken a familiar and traditional service model and brought it online with automated and advanced capabilities that enable publishers to run their businesses and service their customers with a whole new level of efficiency. And because we’ve integrated our best-of-breed subscription technology with our e-commerce platform, publishers can now manage reoccurring revenue business models in a single construct. What we have created is yet another lucrative way for publishers to monetize their products.”
With Digital River Subscriptions, publishers can:
* Customize their subscription model based on time and units;
* Save on administration costs with subscriber self-service tools that allow them to fully manage their account information and functions;
* Maximize renewal rates and preserve subscriber bases with comprehensive, global renewal marketing capabilities;
* Enhance customer loyalty by taking automated pre-orders of upcoming application or game launches; and
* Drive greater administrative efficiencies with back-end processes that automatically handle changes in service levels and suspending or re-instating subscriptions.
Digital River Subscriptions is an integrated part of the comprehensive, global Digital River® e-commerce solution. The e-commerce solution includes localized e-commerce store building and hosting, international transaction and payment processing, digital and physical product fulfillment, and e-marketing and site merchandising programs, among others.
About Digital River, Inc.
Digital River, Inc., a leading provider of global e-commerce solutions, builds and manages online businesses for software and game publishers, consumer electronics manufacturers, distributors, online retailers and affiliates. Its multi-channel e-commerce solution, which supports both direct and indirect sales, is designed to help companies of all sizes maximize online revenues as well as reduce the costs and risks of running an e-commerce operation. The company’s comprehensive platform offers site development and hosting, order management, fraud management, export controls, tax management, physical and digital product fulfillment, multi-lingual customer service, advanced reporting and strategic marketing services.
Founded in 1994, Digital River is headquartered in Minneapolis with offices across the U.S., Asia, Europe and South America. For more details about Digital River, visit the corporate Web site at www.digitalriver.com or call +1 952-253-1234.
Intuit Completes Acquisition of Mint.com
[ Comments Off ] Posted on 11.17.09 under ASP Member Companies, Business, Web Sites
MOUNTAIN VIEW, Calif.–Intuit Inc. (Nasdaq:INTU) has completed its acquisition of Mint.com, a fast-growing provider of online personal finance services based in Mountain View, Calif. The transaction, announced Sept. 14, is valued at approximately $170 million and enhances Intuit’s position as a leading provider of consumer, software-as-a-service offerings that connect customers across desktop, online and mobile.
Intuit and Mint.com together will help redefine personal finance, delivering innovative, easy-to-use online services that help consumers save and do more with their money. By integrating with Intuit, Mint.com quickly gains access to resources to accelerate both product development and growth.
It is expected that Mint.com’s innovative technology will be available broadly to millions of Intuit customers, starting with TurboTax® products for the upcoming 2009 tax season. With future product integrations, Mint.com’s unique ‘ways to save’ engine will help consumers and small businesses make the most of their money, while categorization algorithms will make financial management easier. Intuit also expects that the acquisition of Mint.com will offer Intuit’s financial institution clients the ability to strengthen their online offerings and deliver more value to their customers.
With the transaction complete, Aaron Patzer, former CEO of Mint.com, becomes vice president and general manager of Intuit’s personal finance group, responsible for Mint.com and all Quicken online, desktop and mobile offerings. The combined team will continue to innovate and reinvent Intuit’s personal finance business, building on the assets of both Mint.com and Quicken.
“As the leader of Intuit’s new personal finance group, I’m looking forward to bringing together the best of Quicken and all we’ve learned at Mint.com to help people save and do more with their money,” said Patzer. “We have an opportunity to leverage new technologies and new user-interface design principles to impact more than 10 million Quicken users. Together with Intuit’s expertise in tax, bill-pay and banking, we can build powerful new online services that will make it easier for people to manage their money.”
Intuit will maintain both the Mint.com and Quicken brands, and continue to offer Quicken products. The company recently released Quicken 2010 Windows desktop and expects to release Quicken for Mac in early 2010. The current Mint.com service will remain free and becomes Intuit’s primary online personal finance management solution offered directly to consumers.
“We’re very excited about the future of personal finance,” said Dan Maurer, senior vice president and general manager of Intuit’s Consumer Group. “We’re blending strong leadership, innovative technology, and the power of a well-known, trusted brand with a fresh user interface to create the next generation of personal finance offerings.”
Inclusive of the transaction, Intuit expects a reduction of approximately 2 cents to its fiscal year 2010 non-GAAP (Generally Accepted Accounting Principles) diluted earnings per share and approximately 3 cents to its GAAP diluted earnings per share. Intuit does not expect the acquisition to have a material effect on fiscal year 2011 earnings.
About Intuit Inc.
Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit’s leading tax preparation offerings for professional accountants. The company’s financial institutions division, anchored by Digital Insight, provides on-demand banking services to help banks and credit unions serve businesses and consumers with innovative solutions.
Founded in 1983, Intuit had annual revenue of $3.2 billion in its fiscal year 2009. The company has approximately 7,800 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.
About Mint.com
Mint.com is America’s #1 online personal finance service, providing over 1.5 million users a fresh, easy and intelligent way to manage their money. And it’s free. Launched in September 2007, Mint.com has quickly grown to track nearly $200 billion in transactions and $50 billion in assets and has identified more than $300 million in potential savings for its users.
Mint.com’s innovation is in applying advanced technology to deliver breakthrough ease-of-use. Using patent-pending technology and proprietary algorithms, Mint.com allows users to see all their financial accounts in one place, makes it easy to set and keep to budgets, and helps identify money saving ideas. Mint.com is so effective that more than 90 percent of users say they have changed their financial habits as a result of using the service.
For more information on Mint.com’s free online personal finance service, please visit http://www.mint.com and follow Mint.com on Twitter: www.twitter.com/mint.
Digital River to Power Global Online E-Commerce Stores for Ubisoft
[ Comments Off ] Posted on 11.15.09 under ASP Member Companies, Business
MINNEAPOLIS–Digital River, Inc. (NASDAQ: DRIV), a leading provider of global e-commerce solutions, announced that it signed a new e-commerce agreement with Ubisoft®, a leading producer, publisher and distributor of interactive entertainment products. Under the agreement, Digital River will be providing a full range of global e-commerce services to power stores throughout the U.S. and Europe that will support online consumer sales and digital downloads of Ubisoft’s popular brands, including Assassin’s Creed® and Tom Clancy’s Splinter Cell®.
“We continue to expand our e-commerce leadership position in the global online gaming market,” said Joel Ronning, Digital River’s CEO. “We offer publishers multiple revenue models in a single e-commerce solution. From in-store sales, to reoccurring billing and in-game commerce, the strength of our best-of-breed solution continues to attract top game publishers from around the world.”
Ubisoft’s EMEA chief operating officer, Stéphanie Perotti added, “In today’s market where an increasing number of consumers are making their purchases online, it is important for Ubisoft to equip itself with the best online e-commerce stores. Ubisoft is pleased to be partnering with Digital River, a provider who not only understands the particularities of the video game industry, but has proven its expertise time and time again.”
About Ubisoft
Ubisoft is a leading producer, publisher and distributor of interactive entertainment products worldwide and has grown considerably through a strong and diversified line-up of products and partnerships. Ubisoft is present in 28 countries and has sales in more than 55 countries around the globe. It is committed to delivering high-quality, cutting-edge video game titles to consumers. For the 2008–2009 fiscal year, Ubisoft generated sales of 1.058 billion Euros. To learn more, please visit www.ubisoftgroup.com.
About Digital River, Inc.
Digital River, Inc., a leading provider of global e-commerce solutions, builds and manages online businesses for software and game publishers, consumer electronics manufacturers, distributors, online retailers and affiliates. Its multi-channel e-commerce solution, which supports both direct and indirect sales, is designed to help companies of all sizes maximize online revenues as well as reduce the costs and risks of running an e-commerce operation. The company’s comprehensive platform offers site development and hosting, order management, fraud management, export controls, tax management, physical and digital product fulfillment, multi-lingual customer service, advanced reporting and strategic marketing services.
Founded in 1994, Digital River is headquartered in Minneapolis with offices across the U.S., Asia, Europe and South America. For more details about Digital River, visit the corporate Web site at www.digitalriver.com or call +1-952-253-1234.