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Exhibit 99.1
CONTACTS:
Dan Sullivan Steve Barnes
Mike Spinney Chief Financial Officer Public Relations Manager
Sterling Hager, Inc. NETsilicon, Inc. NETsilicon, Inc.
[email protected] [email protected] [email protected]
(617) 926-6665 x372 (781) 647-1234 x4514 (781) 647-1234 x4304
NETsilicon Acquires Embedded Network Technology of Pacific
Softworks
Acquisition Brings New Expertise, Revenue, Markets
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WALTHAM, MA, SEPTEMBER 5, 2000 - NETsilicon, Inc. (NASDAQ: NSIL), a leading
provider of network-enabled, microprocessing solutions for embedded systems,
announced today that it has acquired the strategic network technology assets of
Newbury Park, California-based software developer PSI Softworks Technology, a
subsidiary of PASW, Inc. (NASDAQ Small Cap: PASW) for 90,000 shares of
NETsilicon common stock.
Pacific makes the FUSION(TM) line of embedded network protocols -- software that
enables electronic devices to communicate over local and wide area networks. Its
software is used in applications such as office automation equipment, wireless
communication devices, navigation systems, cable set-top boxes, Web TV, medical
imaging systems, aerospace and defense, networking equipment and Internet
communications. Pacific customers include AOL, Canon, Ericsson, Honeywell,
Hewlett Packard, Intel, Motorola, Nortel, Philips, Samsung, and Siemens.
"Networking software is a key component of our NET+Works integrated solution for
connecting devices and appliances to networks. Pacific's sophisticated
networking technology will give NETsilicon an important strategic advantage,"
said Cornelius "Pete" Peterson, president and CEO, NETsilicon. "In addition, we
see the opportunity for NETsilicon to expand into new markets as we continue to
provide Pacific's customers with innovative networking software solutions."
NETsilicon's products address the rapidly growing market for intelligent,
networked devices. According to a 2000 report by research firm International
Data Corp. (IDC), the market for Internet Appliances will grow from 11 million
units and $2.4 billion in
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1999 to 89 million units and $17.8 billion by 2004.
The newly acquired operation will operate as the NETsilicon Softworks Group,
remaining in Newbury Park, CA. Sales and ongoing development of the popular
FUSION products will continue to be managed from Newbury Park, the company said.
ABOUT PASW
PASW, Inc., is located in Newbury Park, California, with sales and support
offices in California, Europe, and Japan. PASW has been supplying Internet
protocols for the embedded systems market since 1982. The products are portable
to any real-time environment, with no dependency on an underlying OS or
processor. Product support by protocol engineers is included with all products.
ABOUT NETSILICON
NETsilicon, Inc. (Nasdaq: NSIL) is a leading provider of integrated
system-on-silicon and software solutions used by device manufacturers to add
Internet and Ethernet connectivity to their products. Once network-enabled,
these devices can be managed, accessed and serviced from anywhere. NETsilicon's
highly integrated solutions help manufacturers reduce time-to-market, lower
their costs, and free their engineers from the difficult task of integrating
multi-vendor networking components. NETsilicon embedded networking solutions are
used in a wide array of networked devices including digital office equipment;
medical data collection and patient monitoring units; vending machines; factory
automation and process control equipment; power supply monitors; building access
control and security systems; exercise equipment; point-of-sale terminals;
Internet cameras and telephones; and vehicle diagnostic tools.
For additional company, product or financial information, please visit the
NETsilicon Web site, www.netsilicon.com, send email to [email protected], or
call 800-243-2333. For imaging information, send email to
[email protected]. For calls originating outside the US, call 781-647-1234.
NETsilicon headquarters is located at 411 Waverley Oaks Road #227, Waltham, MA
02452.
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Except for the historical information contained herein, the matters discussed in
this news release are forward-looking statements that involve risks and
uncertainties. The forward-looking statements in this release are made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Actual results may differ materially due to a variety of factors,
including without limitation the company's ability to develop, produce, and
market products that incorporate new technology on a timely basis, that are
priced competitively and achieve significant market acceptance; higher expenses
associated with the development and marketing of new products; changes in
product mix; risks of dependence on third-party component suppliers; inventory
risks due to shifts in market demand; the presence of competitors with broader
product lines and greater financial resources; intellectual property rights and
litigation; needs for liquidity; and the other risks detailed from time to time
in the company's reports filed with the Securities and Exchange Commission.
NETsilicon and NET+Works are trademarks of NETsilicon, Inc. All other trademarks
are the property of their respective owners.
