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EXHIBIT 99.1
CONTACT:
Jerry Wong
POET Software Corporation
(650) 577-2500
[email protected]
POET announces the sale of Content Management Suite product line to Sorman
San Mateo, Calif., October 5, 2000. (Neuer Markt: POXA) The Content Management
Suite (CMS) product line of POET Holdings, Inc. was sold to Sorman Information
AB, Vaxjo, a Swedish company. The agreement provides that Sorman will assume the
intellectual property rights for CMS worldwide except for the United States,
Canada and South Korea and the obligations associated with the European CMS
customer base. Sorman has a six month exclusive option to assume the
intellectual property rights for the United States and Canada.
The agreement includes a license fee arrangement which would provide license
revenues to POET based upon future CMS sales by Sorman within the next three
years. In addition, Sorman has entered into a license agreement for the POET
Object Server Suite (OSS).
About POET Software
POET Software offers solutions for the data management and emerging B2B
eCommerce markets. POET eCatalog Suite (eCS) is a self-service application
allowing supplier organizations and Net Marketplaces to efficiently create,
manage and distribute customized catalog data over the Internet. The Company's
award-winning object database solution, Object Server Suite (OSS) is widely
embedded in next-generation packaged applications and smart devices. POET
Software is a wholly owned subsidiary of POET Holdings, Inc. and headquartered
in San Mateo, Calif., with offices throughout the US and Western Europe. POET
Holdings, Inc. is publicly traded on the Frankfurt Stock Exchange (Neuer Markt:
POXA). For more information visit www.poet.com or call 650-577-2500.
