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EXHIBIT 99.2
IMANAGE EXPANDS MARKET REACH BY OFFERING NEW HOSTED
SERVICES
Completion of Thoughtstar acquisition broadens collaborative
solutions for iManage customers
SAN MATEO, CALIF., -- JUNE 27, 2000 iManage, Inc. (Nasdaq: IMAN - news), a
leading provider of e-business content and collaboration software platforms and
applications, today announced that in its third quarter of FY2000 it will begin
offering hosted services to customers seeking to deploy collaborative
information networks as part of their e-business strategy. This new hosted
service, along with the completion of the acquisition of Thoughtstar Inc.,
represents the first step in iManage's strategy to expand its market reach and
capture a larger share of the e-business market.
The integration of Thoughtstar's leading-edge technology with iManage's highly
successful infoCommerce product suite will provide customers with a broader set
of products and services, including a new iManage-hosted environment for
addressing customers' content and collaboration requirements.
"The integration of iManage's superior architecture with Thoughtstar's
technology strengthens our position as the leader in the e-business content and
collaboration marketplace," said Max Panjwani, iManage's President and chief
executive officer. "This is the first step in a series of initiatives aimed at
increasing our market share by providing a fully comprehensive collaboration
product suite. In addition, our acquisition strategy and the new hosted services
offering showcases our ability to respond quickly to the accelerating wave of
demand for collaborative information management."
iManage will pay $4.5 million in cash and will issue approximately 1.1 million
shares of common stock in exchange for all of the outstanding shares, warrants,
and options of Thoughtstar common stock. iManage will treat the acquisition as a
tax-free transaction and will account for the transaction as a purchase.
THE IMANAGE INFOCOMMERCE SUITE
The iManage infoCommerce product suite comprises powerful, leading-edge
business-to-business and intra-business information and collaboration management
solutions. The infoCommerce Suite is designed for enterprise-wide use in
organizations seeking to deploy network-based and Internet-based information
management solutions. iManage's software solutions are built on a flexible,
three-tiered architecture that provides users with innovative, web browser-based
interfaces for industry-accredited scalable servers. The iManage infoCommerce
Suite includes the infoCommerce Server and infoLink, along with our infoRite and
infoLook applications.
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ABOUT IMANAGE, INC.
Headquartered in San Mateo, California, iManage, Inc. is a leading provider of
content and collaboration software platforms and applications for enterprises
engaged in information commerce as part of their e-business strategy. iManage
software offers a scalable, reliable and highly secure server network that
ensures timely delivery of relevant information to appropriate parties, and it
integrates with both the Internet and existing email systems.
For more information, please contact [email protected], or visit the website at
www.imanage.com.
Contact Information:
INVESTOR RELATIONS
Carol Kaplan
iManage, Inc.
650-356-1166
[email protected]
MEDIA CONTACT
Stacie Neely
Public Relations
650-356-1166
[email protected]
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