California Software
Mastering Midrange Migration
(LOGO)
California Software Carl Thompson Associates
Kate Tague Carl Thompson
Marketing/Communications Investor Relations
949-553-8900 303-665-4200
[email protected] [email protected]
For additional information, see www.californiasoftware.com
California Software Announces Acquisition of Strategic Software Business
Business/Technology Editors
IRVINE, Calif -- October 23, 2000 -- California Software
Corporation (OTC BB:CAWC), a leader in IBM Midrange migration
products and developer of the award-winning BABY product line,
announced today the acquisition of the assets of software
developer ALE Systems of Richmond, VA.
Bruce Acacio, CEO of California Software stated, "This
partnership with the team at ALE Systems marks CalSoft's entry
into the lucrative applications business. ALE enjoys an
outstanding reputation with its major banking clients and its
partnership with IBM."
ALE's Financial Services Applications run on the IBM AS/400
platform and their staff of professionals will begin working with
the California Software team in Irvine to develop both a web-
enabled version and a Windows 2000 version of these applications.
The Financial Services Software Group is budgeted to exceed $7M
in revenue for FY2000.
"We have enjoyed great success in working with the staff at ALE
over the past few months in creating a web-enabled graphical
version of their financial services software application. We are
looking forward to building on the synergy we currently enjoy,"
said Karen Bass, Client Services Representative.
About California Software Corporation
California Software Corporation is the worldwide leader in IBM
Midrange migration software solutions. The Company's products,
marketed under the brand name BABY, support the migration of IBM
AS/400 screens and applications to Windows and the Web.
About ALE Systems
ALE Systems was established in 1976 as a software development
firm specializing in finance industry lending systems. The
company has been an IBM Business Partner for over fifteen
years and a designated IBM remarketer. The MLPS Loan
Production System family of products was developed to run
across the entire spectrum of the IBM mid-range AS/400 platform.
ALE works very closely with the local IBM Representative to
provide each Customer with a "solution" as opposed to providing
merely "hardware" and "software".
This news release contains forward-looking statements relating to
future events or future financial performance that involve risks
and uncertainties. Such statements can usually, but not always,
be identified by terminology such as "may," "will," "should,"
"expects," "plans," "anticipates," "believes," "estimates,"
"predicts", "potential", "intends" or the negative of such terms
or comparable terms. These statements are only predictions and
actual results could differ materially from those anticipated in
these statements based upon a number of factors including those
identified in the Company's filings with the SEC. Investors are
cautioned that all forward-looking statements involve risks and
uncertainties of the industry in which the Company operates
and/or proposes to operate, including without limitation,
uncertainties of product sales and product development, market
acceptance of the Company's products, the impact of competitive
products and technological innovation, product returns and
defects, product obsolescence, availability of qualified
personnel, dependence on third party suppliers, success or
failure of strategic business alliances, acquisitions or other
business combinations, new or amended laws and regulations
applicable to the Company, general market conditions, and other
risks. These forward-looking statements are made in reliance on
the "safe-harbor" provisions of the Private Securities Litigation
Reform Act of 1995, as amended.
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