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EXHIBIT 99.1
For Immediate Distribution
Contact: Samantha Moore David Eichberg
Informatica Corporation Applied Communications
(650) 687-6361 (415) 365-0222 *243
[email protected] [email protected]
INFORMATICA TO ACQUIRE ZIMBA, MOBILE
APPLICATIONS PROVIDER
ACQUISITION PROVIDES MOBILE PROFESSIONALS WITH REAL-TIME BUSINESS INSIGHT BY
ENABLING WIRELESS, VOICE AND WEB ACCESS TO CORPORATE INFORMATION
PALO ALTO, Calif., August 29, 2000 - Informatica Corporation (NASDAQ: INFA), a
leading provider of e-business analytic solutions, today announced it has
entered into a definitive agreement to acquire privately held Zimba Inc., a
leading provider of applications that enable mobile professionals with real-time
access to corporate and external information via wireless devices, voice
recognition and the Web. Informatica is acquiring Zimba in a stock-for-stock
merger transaction valued at approximately $25 million.
The pairing of Zimba's patent-pending mobile applications with
Informatica's market-leading e-business analytic software will help broaden and
empower the ranks of information consumers within today's leading organizations.
Easy, personalized access to key corporate data from any location will help
mobile professionals--from senior executives to field sales
representatives--capitalize on the growing infrastructure for mobile data
services to gain real-time business insight. By enabling anytime, anywhere
access to a personalized view of corporate information, Informatica will help
companies increase the efficiency of their mobile professionals and improve
business responsiveness.
Industry analysts at Yankee Group estimate that nearly half of today's
workforce is now mobile, with mobile data users in North America projected to
grow from 3.2 million in 2001 to 34.5 million by 2004.
"Through the acquisition of Zimba, Informatica will deliver critical
business insight to the growing number of mobile workers, ultimately helping
companies improve their performance
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Informatica to Acquire Zimba Page 2
across the entire business value chain," said Gaurav Dhillon, CEO of
Informatica. "By broadening data access across the company and beyond the walls
of the enterprise, Informatica is creating a powerful `business information
network' that will help make corporate data accessible to mobile employees
through a secure, personalized view via voice, wireless and the Web."
"The integration of wireless, voice and Web platforms with back-office
and front-office systems is quickly becoming the preferred way for mobile
workers to do business," said Girish Pancha, CEO and co-founder of Zimba. "Our
ability to deliver relevant information directly to a mobile professional's
`point of work' can provide a distinct advantage for companies already using
Informatica's analytic solutions within company walls to gain a competitive
advantage."
TERMS OF DEAL
Under the terms of the agreement, Informatica will acquire Zimba in a
stock-for-stock merger transaction valued at approximately $25 million. The
merger will be accounted for as a purchase transaction and is intended to
qualify as a tax-free exchange of shares under IRS regulations.
The transaction has been approved by the board of directors of both
companies and by Zimba's shareholders. The transaction is expected to formally
close in September, 2000.
Zimba has 21 employees currently based in Oakland, California. All 21
Zimba employees will receive employment offers from Informatica. If accepted,
employees will relocate to Informatica corporate headquarters in Palo Alto,
California.
Zimba President and CEO Girish Pancha will join Informatica as vice
president and general manager of Informatica's Platform Business Unit, a new
position, reporting to Diaz Nesamoney, president and COO of Informatica. Before
founding Zimba, Mr. Pancha served as vice president, products at Informatica
from 1996 to 1998.
ABOUT ZIMBA
Zimba Inc. is a privately held company that was founded by former employees of
Oracle Corporation, Andersen Consulting and Informatica Corporation with a
vision to redefine mobile
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Informatica to Acquire Zimba Page 3
applications. Zimba's technology is designed to intelligently integrate
corporate data and applications into a single, unified interface. Zimba allows
mobile professionals to access key corporate information beyond company walls
via wireless devices, voice recognition and the Web.
ABOUT INFORMATICA
Informatica provides e-business analytic solutions that enable companies to
leverage business insight for competitive advantage. Informatica's products
include a comprehensive suite of analytic applications and the industry's most
powerful data integration platform. Over 880 customers, including more than half
of the Fortune 100, rely on Informatica to analyze and improve their entire
e-business value chain. Informatica's customers include 3Com, AMD, Boeing,
Chevron, Cisco, CNET, Deutsche Bank, eBay, GE, Inktomi, Merrill Lynch, MetLife,
MCI WorldCom, Mutual of Omaha, Polo Ralph Lauren, Preview Travel, Priceline.com,
Sprint and Zurich Insurance. For more information, call 800.970.1179, or visit
Informatica's Web site at www.informatica.com.
This press release contains forward-looking statements as defined under
The Securities Litigation Reform Act of 1995. Forward-looking statements in this
release include, but are not limited to, statements regarding Informatica's
ability to provide customers anytime, anywhere access to key corporate data, to
help its customers improve their performance and/or gain a competitive
advantage, and the timing and ability to close the merger transaction between
Informatica and Zimba. Factors that could cause actual results to differ
materially include risks and uncertainties such as unforeseen technical
difficulties in developing, integrating, or implementing the Zimba solution, and
potential difficulties in closing the merger transaction, as well as additional
risk factors outlined in our Annual Report on Form 10-K for the year ended
December 31, 1999 and updated in our report on Form 10-Q for our quarter ended
June 30, 2000. Informatica assumes no duty to update any of the forward-looking
statements in this release.
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NOTE: Informatica is a registered trademark of Informatica Corporation. All
other company and product names may be trademarks of their respective owners.
