<PAGE> 1
EXHIBIT 99.1
NEWS RELEASE
Barbara Domingo
Senior Director of Investor Relations
Tel: 510-302-4169
[email protected]
VERSATA, INC. COMPLETES VERVE, INC. ACQUISITION
OAKLAND, NOVEMBER 20, 2000 -- Versata, Inc. (Nasdaq: VATA), a provider of
software and services that automate the development, deployment and change
management of transaction-based e-business, today announced that it has
completed the acquisition of Verve, Inc., a San Francisco-based leading
provider of embedded process and workflow software. Verve's more than 30
employees worldwide will be fully integrated into Versata.
"We are extremely excited about the close of this acquisition and the addition
of the Verve management and engineers," said Jack Hewitt, president and CEO of
Versata, Inc. "The combination of Versata's rules based technology and Verve's
business process and workflow engine will enable customers to automate the
multi-step interactions associated with transacting business on the web. We now
provide the critical components to e-Business Transaction Automation which
enable our customers to decrease their time to market for implementation and
change management by putting e-Business strategy execution in the business
users' hands."
ABOUT VERSATA
Versata provides software and services that enable customers to rapidly deploy
e-business software applications that can be modified quickly to meet
constantly changing business requirements. Versata's E-Business Automation
System utilizes a unique business rules automation technology that redefines
how companies create, deploy and modify the critical e-business software
applications used to transact their online business and to automate multi-step
business interactions.
Innovative Fortune 1000 and corporate customers such as MCI, Sanwa Bank, ITT
Fluid Technologies, Hilton Hotels, JP Morgan and United Defense as well as new
Internet exchanges including yet2.com, eBond-Trade.com and uWork have all
benefited from the Versata solution. The Versata System is available both from
Versata directly and from over 200 partners and distributors worldwide.
Incorporated in 1995, and publicly-traded, Versata (Nasdaq: VATA) is
headquartered in Oakland, California with offices throughout the United States
and Europe and in Hong Kong. For more information, please contact Versata at
www.versata.com, or call 800-984-7638 or email us at [email protected].
###
NOTE TO EDITORS: Camera-ready artwork of the Versata logo can be obtained from
corporate communications at 510/238-4100 at
1
<PAGE> 2
headquarters. Copies of previous Versata press releases and additional
corporate and product information are available on the Web site www.versata.com.
Versata has filed for several trademarks, including the Versata E-Business
Automation System(tm), the Versata Logic Server(tm), the Versata Studio(tm),
and the Versata Connector(tm), as well as the Versata logo. All other company
and product names mentioned are property of the respective holders.
This release may contain forward-looking statements based on Versata's current
expectations. These forward-looking statements involve risks and uncertainties.
A number of important factors could cause actual results to differ materially
from those in the forward-looking statements. These factors include the
widespread market acceptance of the E-Business Automation System and related
service offerings, Versata's ability to expand or grow the service offerings
that compliment its E-Business Automation System, its ability to compete in the
Internet infrastructure software market, responsiveness to technological and
industry changes, loss of a major customer, ability to maintain and expand
relationships with systems integrators and third-party distributors and the
acceptance of commerce over the Internet by consumers and businesses. These
factors, as well as other factors that could cause actual results to differ
materially, are discussed in more detail in Versata's filings with the
Securities and Exchange Commission.
2
