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PALO ALTO, Calif. (July 9, 2001) - Elibrium, Inc., a leading provider
of productivity software and services, announced that it has finalized
the transaction to purchase the assets of the former Elibrium division
of ClickAction Inc. The new corporation, Elibrium, Inc., will operate
as a separate, privately owned company and will continue to provide
quality productivity software and services at retail stores and
over the Internet. Terms of the agreement include a minimum cash
payment of $4.5 million to ClickAction. The closing of the transaction
occurred on June 15, 2001.
Elibrium, Inc. was formed by the existing management team of the
Elibrium division. This executive management team is made up of
Christina Willett, President and CEO; Sharon Chiu, Chief Financial
Officer; Anne Norland, Senior Vice President of Marketing; and Charles
DeLacey, Senior Vice President of Business Development and General
Counsel.
Formerly MySoftware®, Elibrium has developed and manufactured
software products for more than 13 years. Since the introduction
of their first software title in 1987, over 20 million products
have been sold at over 7,000 retail locations nationwide. Building
on the success of the MySoftware brand, Elibrium, Inc. will expand
the company's product offering to include a new line of Palm productivity
titles available at retail in July.
"We are pleased to announce this acquisition by Elibrium,
Inc. and feel confident that this will result in what will be a
stronger, more focused business. We look forward to offering an
even broader selection of productivity solutions and a higher level
of service to make the day-to-day life of our small business customers
easier and more efficient," said Christina Willett, President
and CEO of Elibrium, Inc.
For over ten years, Elibrium has partnered with industry leading
Office Supply retailers, Application Service Providers (ASP) and
software manufacturers. These partnerships are integral to the success
of Elibrium in providing co-marketing opportunities and effective
distribution of its product and services.
"The Elibrium line of products, including MySoftware, have
remained top-selling titles in our small business productivity sector
and we plan to look towards Elibrium, Inc. in the future to provide
innovative solutions for our retail customers," remarked Jonathan
Magasanik, Senior Vice President of Merchandising at Staples.
"Our partnership with Elibrium has proven to be one of our
key strategic alliances and has allowed us an entirely new method
of distribution. We are thrilled with this recent news and look
forward to continued success," said Edward McLaughlin, CEO
of Paytrust, the leading online bill management service.
About Elibrium
Elibrium Inc. provides productivity software and services to simplify
home and business life. For more than 14 years, businesses have
trusted Elibrium's leading brand, MySoftware, to help grow their
business while saving time and money. Elibrium's commitment to empowering
small business professionals continues as the company expands and
enhances existing services as well as provides new ways to increase
business efficiencies through the Web, personal computer and handheld
devices. The company has sold over 20 million products since the
introduction of its first title. Headquartered in Palo Alto, California,
Elibrium sells products and services at over 7,000 locations. For
more information visit http://www.avanquestusa.com.
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