UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 5, 1996
CHEYENNE SOFTWARE, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 1-9189 13-3175893
(State or Other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) No.)
3 Expressway Plaza, Roslyn Heights, New York 11577
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (516) 465-4000
<PAGE>
ITEM 5. OTHER EVENTS.
On July 5, 1996, Cheyenne Software, Inc. a Delaware
Corporation (the "Company"), purchased all of the issued and
outstanding shares of capital stock of Intelligence Quotient
International Limited ("IQI") of Wellington, Somerset, England, a
leading software development company specializing in open file
management and partial file management technologies.
The purchase of all of the shares of IQI does not
constitute the acquisition of a "significant amount of assets" by
Cheyenne for reporting purposes under Item 2 of Form 8-K. A copy
of the press release dated July 11, 1996 announcing the closing of
this acquisition is filed as an exhibit hereto.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
20. Press release dated July 11 1996.
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
CHEYENNE SOFTWARE, INC.
By: /s/ReiJane Huai
Name: ReiJane Huai
Title: President and Chief
Executive Officer
DATE: July 12, 1996
<PAGE>
EXHIBIT LIST
Exhibit
Number
20. Press Release dated July 11, 1996.
EXHIBIT 20
[LOGO]
NEWS RELEASE
Editorial Contact:
Cheyenne Software
Yvette Guttierrez
(516) 465-4403
Chris Nahil
Fitzgerald Communications
(617) 494-9500
[email protected]
CHEYENNE SOFTWARE, INC. ACQUIRES
INTELLIGENCE QUOTIENT INTERNATIONAL LTD. (IQI)
Leading Developer of Open File Management and Partial File
Backup Technologies
Leading Industry Analyst Refers to IQI as a "Real Jewel"
ROSLYN HEIGHTS, N.Y. (July 11, 1996 -- Cheyenne Software,
Inc. (AMEX:CYE), a world leader in the development and marketing of
enterprise-wide essential software solutions, today announced that
it has acquired all the shares of Intelligence Quotient
International Ltd. (IQI) of Wellington, Somerset, England. A
leading developer of open file management and partial backup
technologies for NetWare and Windows NT platforms, IQI has been a
provider of storage and systems management technologies to
customers in the form of software library modules and products.
The majority shareholder of IQI was M.T.I. Ventures, a leading U.K.
high-technology venture fund. Financial terms of the transaction
were not disclosed. Cheyenne will take a one-time write-off for
financial reporting purposes, net of taxes, of 15 to 20 cents per
share in the quarter ending September 30, 1996 (FQ197) relating to
the acquisition of IQI's in-process research and development.
IQI owns base technology patents and patent applications, some
of which have already been productized. These technologies are
applicable to the fields of continuous realtime backup, local,
remote, or internet replication, snapshot image backup, vaulting,
and server mirroring. Among the technologies included are open
file management and partial file backup.
-More-
<PAGE>
Open file management technology enables storage management
products such as Cheyenne ARCserve to back up the active files of
any application (for example, the files associated with an e-mail
post office) with integrity while they are in use by the
application (such as Lotus cc:Mail), thus facilitating 24-hour, 7-
day-per-week protection of mission-critical business applications.
IQI's technology complements the capability offered by Cheyenne's
Database/Application Agents. As a result Cheyenne will be able to
offer a full range of solutions to back up on-line applications
with the highest degree of integrity.
Partial file backup technology enhances the efficiency of
"incremental" or "differential" backup operations by identifying
and backing up only those data elements within a file that have
changed since the last backup. Rather than copying the entire
contents of a modified file, the partial backup technique will
maintain the same level of accuracy and integrity with minimal
system overhead (requiring less disk I/O) and greater speed. This
capability represents a significant technology breakthrough
compared with what is currently available through the traditional
"incremental" and "differential" backup processes.
Cheyenne plans to incorporate IQI technologies in its storage
management product lines to provide superior price/performance to
its customers worldwide.
ReiJane Huai, president and chief executive officer of
Cheyenne Software, said: "The IQI acquisition significantly
enhances Cheyenne's ownership of the core storage management
technologies which will help us accelerate the delivery of state-
of-the art storage management solutions for NetWare and Windows NT
platforms and continue to bolster our leadership position in the
market."
Peter Malcolm, chief executive officer of IQI, said: "We have
created important new marketable technologies and products over the
past few years. We believe that by joining forces with Cheyenne,
we have the strategic partner best-positioned to realize the
potential of our assets and capabilities. We look forward to
maintaining an R&D center in the UK and helping Cheyenne maintain
its market leadership in network storage management software
solutions."
-More-
<PAGE>
Michael Peterson, president of Strategic Research Corporation
in Santa Barbara California, a market research firm, said:
"Cheyenne has acquired a real jewel. IQI is well respected as the
best independent software developer for NetWare and Windows NT.
The company owns an array of intellectual property that will be
instrumental in positioning Cheyenne with strategic technology for
its next generation products."
Separately, Cheyenne announced a strategic software licensing
and OEM agreement with Hewlett-Packard Company (dateline ROSLYN
HEIGHTS, N.Y., July 10, 1996). Under the agreement, Cheyenne will
license HP's Colorado Memory Systems Division's (HP/CMS's) Colorado
Backup software applications and will be the exclusive provider of
desktop backup software for HP/CMS.
Cheyenne will be holding an investor conference call on
Monday, July 22, 1996 at 4:15PM to discuss these transactions and
to update the investor community on other Cheyenne initiatives.
Cheyenne Software, Inc. is an international developer of
essential software solutions for NetWare, Windows NT, Windows 3.1,
Windows 95, UNIX, Macintosh, and OS/2 networks. Its enterprise-
wide offerings include an array of storage management, security,
and communications products, including Cheyenne[R] HSM,
JLTserve[TM], InocuLAN[R], FAXserve[TM], and its flagship product
line, the ARCserve[R] family of network backup software. Cheyenne
can be contacted at (800) 243-9462 (U.S. or Canada) or (516) 465-
4000, or by visiting its WWW home page at: http://www.cheyenne.com.
Cheyenne can be contacted in the UK at its IQI number at 44-1823-
660-611.
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