SSA’s Powerful Identity Matching Technology Expected To Increase The Value Of Intellisync Products For Enterprise Customers
SAN JOSE, CA (03/17/04) – Intellisync Corporation (NASDAQ: SYNC), a leading provider of synchronization and mobilization software formerly known as Pumatech, today announced the completion of its acquisition of Search Software America (SSA), a developer of solutions that enhance the ability to find, match and group (synchronize) identity data within computer systems and network databases.
“We believe that the acquisition of SSA’s Identity Systems, combined with Intellisync’s patented sync technologies, will enable new and existing SSA and Intellisync customers to improve productivity and ROI,” said Intellisync President and CEO Woodson (Woody) Hobbs. “Global 2000 companies will be able to easily synchronize vital information, reducing costly errors and expense due to redundancy. Local, state and federal government agencies will be able to expedite critical processes and investigations, which should lead to lower costs and more accurate resolution of issues.”
While Intellisync has long been a leader in contact-name synchronization with its award-winning products and patents, the technology obtained from SSA will enable the Company to expand this functionality to include matching, grouping and sophisticated management of names and addresses. With more than 17 years of experience creating software that adds complex intelligence and high quality to critical name search and matching, SSA has empowered high-value identification applications for criminal intelligence, fraud investigation, tax collection, marketing and synchronization systems. SSA’s software operates on servers, mainframes and workstations, and has been adopted by customers such as AT&T, GE Capital, Reader’s Digest, VISA, Barclays, Bank of New York, Bank of Montreal, Zurich Financial Services, Accenture, Deloitte Consulting, Insurance Council of New Zealand and Equifax Brazil.
WHAT CUSTOMERS ARE SAYING ABOUT SSA SOFTWARE
“On a daily basis, the FCIC II system, with the SSA software, catches multiple wanted, missing and runaway persons – even when there are name permutations and altered dates of birth.” – Florida Department of Law Enforcement (Jerilyn Ammons, DP Manager)
“It is very important to our business to be able to effectively manage customer information. We chose the [SSA] Identity System software to help us in doing so because of its strong international capabilities and ease of integrating with our existing legacy systems.” – GE Capital (Lewis Giannetti, Application Architect)
“Given the highly variable quality of the data that the Register receives from its 56 pathology laboratories, the quality of matches detected by the SSA software is impressive.” – NSW Cancer Council (David Schanzer, Senior Systems Analyst)
The acquisition of SSA, which Intellisync intends to operate as a wholly owned subsidiary, is expected to be accretive to earnings. According to SPL Worldgroup, the seller, SSA generated annual revenues of approximately $10 million in calendar 2003 and operating income of approximately $3.5 million. The acquisition of SSA was facilitated by the previously announced $60 million convertible debt offering completed a week ago.
Later today, Intellisync will issue revised financial guidance and hold a conference call to discuss guidance for its third and fourth fiscal quarters, based on the integration of SSA into the Company’s operations.
ABOUT INTELLISYNC CORPORATION
Intellisync Corporation (NASDAQ: SYNC), formerly known as Pumatech, Inc., provides organizations with a suite of software products and services that synchronizes and distributes information that is critical to employees, customers and partners. Intellisync Corporation’s customers and strategic partners include more than 200 original equipment manufacturers, such as AOL, IBM, PeopleSoft and RIM, and approximately 1000 large enterprise ccounts, including Domino’s Pizza, Merck, Pfizer and Procter & Gamble. For more information on Intellisync Corporation’s products and services, please visit www.intellisync.com.
ABOUT SEARCH SOFTWARE AMERICA
Search Software America (SSA), a wholly owned subsidiary of Intellisync Corporation, has operations in the U.S., U.K., Australia and South America. SSA develops and markets international software products that significantly enhance an organization’s ability to find, match and group identity data within their computer systems and network databases. With more than 15 years of experience, SSA has built a remarkable client roster in excess of 500 customers, including AT&T, Barclays, Equifax, GE Capital, UNISYS, VISA, The Hartford and Zurich Financial Services, as well as many state and federal government bodies.
The forward-looking statements above in this news release are based on current expectations and beliefs and are subject to numerous risks and uncertainties that could cause actual results to differ materially. Factors that could cause actual results to differ materially include uncertainties related to market acceptance of the acquisition, our ability to retain key employees of SSA, our ability to leverage the acquisition to address synchronization challenges and the timely introduction, availability and acceptance of new products. Other important factors include the effect of continued weakness of general economic factors on the overall demand for our products and services, the timing of market adoption and movement toward data synchronization and integration solutions, margin erosion, market shrinkage, economic uncertainty related to terrorism and conflict in the Middle East, the impact of competitive products and pricing, consummation of binding agreements with prospective business partners, as well as additional risk factors, as discussed in the “Risk Factors” section of Intellisync Corporation’s Annual Report on Form 10-K for the year ended July 31, 2003 and Intellisync’s quarterly and periodic reports filed from time to time with the U.S. Securities and Exchange Commission. Intellisync Corporation disclaims any obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
Intellisync and the Intellisync logo are trademarks of Intellisync Corporation that may be registered in certain jurisdictions. All other product and company names may be trademarks of their respective owners.