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EXHIBIT 99.1
PRESS RELEASE
NEWS For Immediate Release
CONTACTS
Catharina Sundelin
Director of Information & Investor Relations Telelogic AB
Phone: +46 40-17 47 30
E-mail: [email protected]
Telelogic AB Completes Acquisition of Continuus Software Corporation
MALMO, SWEDEN -- DECEMBER 11, 2000 -- Telelogic AB (Stockholm Stock Exchange:
TLOG) announced today that it completed its acquisition of Continuus Software
Corporation by merging its acquisition subsidiary into Continuus Software
Corporation. As a result of the merger, which became effective Friday, December
8, 2000, each outstanding share of Continuus Software Corporation common stock
not owned by Telelogic AB was converted into the right to receive $3.46 in cash,
without interest. Continuus Software Corporation ceased to be listed on NASDAQ
as of the close of business on Friday, December 8, 2000. Continuus Software
Corporation stockholders who hold their stock certificates will receive notice
in the mail regarding the process to surrender their shares for cash. Continuus
Software Corporation stockholders whose shares are held through banks or brokers
will receive information about their holdings from those institutions.
ABOUT TELELOGIC
Telelogic is established in thirteen countries under its own name, and a further
20 countries through distributors. It leads the market in development
environments for advanced software, especially in real-time applications. By
offering high quality graphical development tools and related services,
Telelogic makes the development of software more rapid, less labor intensive,
and more reliable.
The company has a global client base, including all the top 10 communication
suppliers such as Alcatel, Cisco, Ericsson, Fujitsu, Hewlett-Packard, Lucent,
Motorola, NEC, Nokia, Nortel Networks and Siemens, as well as a number of
leading suppliers within automotive and aerospace.
The software market is moving towards more visual programming methods, and
Telelogic leads in the production of the next generation of development tools,
in this area. Telelogic is well prepared to deliver rapid and complete solutions
for the complex challenges faced by the real-time industry.
For more information about Telelogic, please visit www.telelogic.com.
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ABOUT CONTINUUS
Continuus Software Corporation is the leading provider of eAsset Management
solutions. eAsset Management enables organizations to develop, enhance, deploy
and more effectively manage their teams building Internet and enterprise
software and content-based systems. Continuus products enable organizations to
improve the quality of their eAssets and to reduce the time it takes to deliver
Internet and software applications. Continuus offers eAsset Management
solutions, consisting of Continuus CM Synergy, Continuus WebSynergy, Continuus
ChangeSynergy, and Continuus KnowledgeSynergy, designed to support the
collaborative development, management, approval and deployment of the most
complex and demanding software, Internet applications and Web content.
The company also offers its customers professional services through the eAsset
foundation methodology that include consulting, training and maintenance
services to facilitate successful implementations. Continuus has licensed its
products to more than 585 customers, 1,000 sites and 60,000 users worldwide.
For more information on Continuus: in the United States, call 949.830.8022; in
Canada, call 613.751.4499; in the United Kingdom, call 44.1344.788.100; in
Germany, call 49.89.54.8880; in France, call 33.1.69.59.1616; in Australia call
61.2.9904.6033, or visit its Web site at www.continuus.com.
INFORMATION REGARDING STOCKHOLDERS' FORFEITURE OF CERTIFICATES FOR CASH CAN BE
OBTAINED BY CONTACTING D.F. KING & CO., THE INFORMATION AGENT, AT (800)
714-3311.
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