Exhibit 99.1
[LETTERHEAD OF MACROVISION]
FOR IMMEDIATE RELEASE
Macrovision Completes Acquisition of GLOBEtrotter Software, Leading Supplier of
Electronic Software Licensing Technologies
SUNNYVALE, CA (September 1, 2000) -- Macrovision Corporation (Nasdaq: MVSN), the
leading provider of B2C (business-to-consumer) video, multimedia and software
copy protection technologies to the motion picture and software industries,
announced today that it has completed its previously announced acquisition of
GLOBEtrotter Software, Inc. of San Jose, California. GLOBEtrotter is now a
wholly owned subsidiary of Macrovision.
GLOBEtrotter is a leading supplier of B2B (business-to-business) electronic
licensing and license management technology to software vendors and a leading
supplier of software asset management products to large corporate users
worldwide.
Macrovision acquired all of the outstanding shares of GLOBEtrotter for 8,944,548
shares of Macrovision common stock and assumed all vested and unvested
GLOBEtrotter stock options in exchange for options to purchase 821,852 shares of
Macrovision common stock. Macrovision anticipates the transaction will be
accounted for as a "pooling of interests."
"We're pleased to have completed this strategic merger, which positions
Macrovision as the leading provider worldwide of copy protection and digital
rights management technologies applicable to both electronically delivered and
physical media," said John Ryan, Chairman and CEO of Macrovision. "With the
mechanics of the merger behind us, we expect to benefit from expanded markets
and a much larger customer base. Macrovision now has more than 200 employees
worldwide, with development, sales and support centers in the US, Europe, and
Asia. Globetrotter is a natural fit for expanding our digital rights management
initiatives into the B2B space."
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Macrovision Completes Acquisition of GLOBEtrotter Software, Inc. PAGE 2
"The combined strengths of Macrovision and GLOBEtrotter will allow us to provide
a wide range of security, e-commerce, and digital rights management technologies
to the software, video, music, and data publishing industries," added Matt
Christiano, GLOBEtrotter's Founder. "All of us at GLOBEtrotter are excited about
working with the Macrovision team to accelerate adoption of these technologies
on a worldwide basis."
With the completion of the acquisition, Mr. Christiano will become Executive
Vice President of Macrovision. He will also serve as Executive Vice President
and General Manager of GLOBEtrotter, focusing on the product development,
engineering and technical support functions. Mark Belinsky, heretofore
Macrovision's Senior Vice President of Business Development, will join the
GLOBEtrotter executive team and serve as Senior Vice President and General
Manager, focusing on the sales, marketing, financial, and administrative sides
of the business. Both executives will report to Bill Krepick, Macrovision's
President/COO.
About Macrovision
Macrovision Corporation develops and markets content copy protection and rights
management technologies to prevent the unauthorized duplication, reception or
use of video and audio programs and computer software, and to enable B2C
electronic software distribution. Macrovision provides its products and services
primarily to the home video, consumer multimedia software, digital pay-per-view,
cable, satellite and video security markets. Macrovision has its headquarters in
Sunnyvale, California with subsidiaries in London and Tokyo. For more
information on Macrovision and its products, see http://www.macrovision.com.
About GLOBEtrotter
GLOBEtrotter Software, Inc., of San Jose, California produces the world's
leading products for independent software vendors (ISVs) to electronically
license their software and software asset management tools for large software
customers. For more information on GLOBEtrotter and its products, see
http://www.globetrotter.com.
All statements contained herein, including the quotations attributed to Mr. Ryan
and Mr. Christiano, as well as oral statements that may be made by Macrovision
or by officers, directors or employees of the Company acting on the Company's
behalf, that are not statements of historical fact, including statements that
use the words "believes," "anticipates," "estimates," "expects" or "intends" or
similar words that describe Macrovision's or management's future plans,
objectives, or goals, are "forward-looking statements" and are made pursuant to
the Safe-Harbor provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements include statements regarding the
completion and financial effects of the acquisition of GLOBEtrotter, the
business strategies and product plans of both companies, the advantages of the
acquisition for both companies, the features and benefits of the products of
both companies, and the cooperative efforts to be undertaken by both companies.
Such forward-looking statements involve known and unknown risks, uncertainties
and other factors that could cause the actual results of the Company to be
materially different from historical results and/or from any future results or
outcomes expressed or implied by such
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Macrovision Completes Acquisition of GLOBEtrotter Software, Inc. PAGE 3
forward-looking statements. Among the important factors that could cause results
to differ materially are the following: the ability of Macrovision to integrate
the operations and administration of the companies effectively and efficiently;
the ability of the companies to achieve operational and other business
synergies; the risks associated with the integration of geographically dispersed
operations; the effect of the acquisition on, and actions of, suppliers,
customers and other business partners of the companies; and the costs and
business disruption associated with integration efforts. Other factors include
those outlined in the Company's Annual Report on Form 10-K for 1999, its
Quarterly Reports on Form 10-Q, and its Form 8-K with respect to this
transaction, all as filed with the Securities and Exchange Commission. These
factors may not constitute all factors that could cause actual results to differ
materially from those discussed in any forward-looking statement. Macrovision
and GLOBEtrotter operate in a continually changing business environment and new
factors emerge from time to time. Macrovision cannot predict such factors nor
can it assess the impact, if any, of such factors on Macrovision or its results.
Accordingly, forward-looking statements should not be relied upon as a
prediction of actual results. Macrovision is not obligated to revise or update
any forward-looking statements in order to reflect events or circumstances that
may arise after the date of this release.
Note to Editors: Additional background information on Macrovision Corporation
can be obtained from our Web Site at www.macrovision.com
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