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Exhibit 99.1
FOR MORE INFORMATION:
Tracey Frederickson Sam Perkins
Sterling Hager, Inc. for S1 Corporation Investor Relations for S1 Corporation
617-926-6665 ext. 327 404-812-6200
[email protected] [email protected]
S1 CORPORATION APPOINTS JAIME ELLERTSON
AS NEW CHIEF EXECUTIVE OFFICER
-- FORMER CEO OF INTERLEAF AND RECENT GM OF STRATEGIC OPERATIONS
FOR BROADVISION JOINS S1 --
ATLANTA, GA. -- NOVEMBER 27, 2000 -- S1 Corporation (Nasdaq: SONE), the leading
provider of eFinance solutions and services, today announced the appointment of
Jaime W. Ellertson, former CEO of Interleaf (Nasdaq: LEAF) and recent executive
vice president and general manager of worldwide strategic operations for
BroadVision (Nasdaq: BVSN), as the Company's new chief executive officer.
Ellertson's appointment will become effective immediately. James "Chip" S. Mahan
III, founder and current CEO of S1, will become chairman of the board of
directors for the Company. Michel Akkermans has resigned his position as
chairman but remains on the board of S1.
"During the past five years, we have taken the company from being the
world's first Internet bank to the world's largest provider of integrated
eFinance solutions. Today, leading financial service providers worldwide are
leveraging our products and services to create and manage unique customer
experiences across multiple delivery channels," said Mahan. "We know that
Jaime's proven track record will cement S1's opportunity to take this
organization to the next level, ultimately benefiting our customers, partners,
shareholders and employees."
As chairman of the board, Mahan will continue to play an active role in
defining the Company's long-term vision and strategic direction through its
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corporate development initiatives. Mahan will also continue to leverage his
strong industry relationships and unparalleled business acumen to provide the
vision and direction for the benefit of the company.
Ellertson brings 20 years of experience in leading high-growth software
companies in demanding markets and managing their corporate operations toward
long-term success. In his role at BroadVision, Ellertson was responsible for
driving the company's strategic corporate development initiatives, which
contributed to the company's rapid growth in calendar 2000. Ellertson's other
successes include his role as chairman and CEO of Interleaf where over three
years, he grew the company from a mature provider of publishing software into
the leading provider of XML capabilities to the financial, technology and
manufacturing market segments. Ellertson's tenure at Interleaf culminated with
its successful merger with BroadVision in April 2000, where he accepted his
current position as general manager of worldwide strategic operations.
Additional chief executive assignments for Ellertson include founder and
CEO of Purview Technologies, Inc., an Internet software company that specialized
in network monitoring and management technology; CEO of Tartan, Inc. a leading
digital signal processor software provider; and, founder and CEO of Openware
Technologies, a software tools and services firm. Throughout his various roles,
Ellertson has consistently demonstrated his ability to focus organizations on
executing their corporate and product strategies to drive increased revenue and
superior returns for shareholders.
"Chip and his team have amassed tremendous talent and technology that
uniquely position S1 to capitalize on the growing demand for enterprise-wide
eFinance solutions," said Ellertson. "I am excited about the opportunity to join
the company that pioneered the Internet banking space and is currently leading
this industry into the rapidly emerging next generation of eFinance.
Particularly appealing to me is the chance to lead S1 in its delivery of the
first comprehensive enterprise-wide eFinance solution, which enables financial
service providers to
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maximize revenue opportunities, retain their most valuable customers and create
sustainable competitive advantage."
ABOUT S1 CORPORATION
S1 (Nasdaq: SONE), the pioneer of Internet banking, is a leading global
provider of innovative eFinance solutions and services that are centered on
banking, brokerage and insurance. S1 is enabling financial service providers to
create a complete Enterprise eFinance Experience(TM) by delivering the tools
necessary to meet the evolving demands of their customers across various lines
of businesses, market segments and delivery channels. Through its Open eFinance
Architecture(TM), S1 offers a broad range of applications that empower financial
institutions to increase revenue, strengthen customer relationships and gain
competitive advantage. Additionally, through the Company's professional services
organization, S1 applications can be implemented in-house or hosted in an S1
Data Center. Additional information about S1 is available at http://www.s1.com.
FORWARD-LOOKING STATEMENTS
This press release includes statements and other matters which are
forward-looking and subject to a number of risks and uncertainties that could
cause actual results to differ materially from expectations. The statements
contained in this release that are forward-looking are based on current
expectations and are subject to risks and uncertainties that could cause actual
results to differ materially from the results contemplated by the
forward-looking statements. These risks and uncertainties include, but are in no
way limited to:
- the possibility that the anticipated benefits from our acquisition
transactions will not be fully realized;
- the possibility that costs or difficulties related to our integration of
acquisitions will be greater than expected;
- our dependence on the timely development, introduction and customers
acceptance of new Internet services;
- rapidly changing technology and shifting demand requirements and Internet
usage patterns;
- other risks and uncertainties, including the impact of competitive
services, products and prices, the unsettled conditions in the Internet
and other high-technology industries and the ability to attract and
retain key personnel; and
- other risk factors as may be detailed from time to time in our public
announcements and filings with the SEC, including the Company's annual
report on Form 10-K for the year ended December 31, 1999.
In addition, nothing in the press release should be viewed as an update or
comment on earlier forward-looking statements provided by S1 Corporation. As
noted above,
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because actual results, performance or developments may differ materially from
forward-looking statements, S1 will not update such statements over the course
of future periods, except in the course of our reports under applicable laws.
