SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): October 28, 1999
CONCURRENT COMPUTER CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
0-13150
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(Commission File Number)
04-2735766
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(IRS Employer Identification Number)
4375 River Green Parkway, Duluth, Georgia 30097
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (678) 258-4000
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ITEM 5. OTHER EVENTS
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On October 28, 1999, Concurrent Computer Corporation ("Concurrent") issued a
press release announcing its acquisition of Vivid Technology, Inc.
On November 1, 1999, Concurrent issued a press release announcing the
appointment of Steven R. Norton as its Executive Vice President and Chief
Financial Officer.
ITEM 7. EXHIBITS
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Exhibit No.
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99.1 Press release dated October 28, 1999
99.2 Press release dated November 1, 1999
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Signatures
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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 thereunto duly authorized.
Date: November 12, 1999
Concurrent Computer Corporation
By: /s/ Steven R. Norton
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Steven R. Norton
Executive Vice President and
Chief Financial Officer
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EXHIBIT INDEX
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99.1 Press release dated October 28, 1999
99.2 Press release dated November 1, 1999
<PAGE>
EXHIBIT 99.1
For More Information Contact:
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Concurrent Computer Corporation Concurrent Computer Corporation
Andrea Ariza (Media) Beth Alonzo (Analysts/Investors)
(678) 258-4070 or [email protected] (954) 973-5100
FOR IMMEDIATE RELEASE
CONCURRENT COMPUTER CORPORATION ACQUIRES VIDEO SERVER COMPETITOR,
VIVID TECHNOLOGY
- - INTEGRATION OF CONCURRENT AND VIVID'S TECHNOLOGY GIVES CONCURRENT BROADEST
PRODUCT SUITE IN EMERGING VOD MARKETPLACE
- - ACQUISITION EXPECTED TO BE ACCRETIVE IN FIRST FULL YEAR OF COMBINED
OPERATION
Atlanta, Georgia, October 28, 1999 -- Concurrent Computer Corporation
(NASDAQ:CCUR) announced today the acquisition of rival Video-On-Demand (VOD)
provider, Vivid Technology. Concurrent is one of the leading providers of
digital video server hardware and software for VOD applications. Vivid
Technology, based outside of Philadelphia, provides complete end-to-end VOD and
interactive television solutions. The two companies believe that Concurrent's
acquisition of Vivid strategically positions Concurrent as the leading video
server provider by allowing it to offer customers the broadest VOD product
offering including compatibility with both the Scientific-Atlanta and the
General Instrument digital platforms. No competitor can currently boast active
site installations of both Scientific-Atlanta and General Instrument platforms.
In the merger, each share of outstanding Vivid capital stock was exchanged for
2.67831 shares of Concurrent common stock. In aggregate, Concurrent issued a
total of 2,233,700 shares to the current stockholders of Vivid and has reserved
376,300 shares for issuance upon the exercise of assumed Vivid stock options.
VOD enables cable operators to offer subscribers an information and
entertainment medium that provides individual freedom, control, choice,
flexibility, convenience, and simplicity through the use of a television set.
The most exciting benefit of VOD technology is that it brings movies -
more-
<PAGE>
Concurrent/Vivid
October 28, 1999
Page 2
on-demand into the subscribers' homes with full VCR-type control, such as pause,
rewind, fastforward, etc. For subscribers, VOD will equate to having the video
rental store right in their home -- minus the late fees, selection limitations,
and poor video quality. Many have already labeled VOD as the "killer app." Today
cable companies have deployed 4 million digital set-top boxes in subscriber
homes, with the majority of these boxes provided by General Instrument and
Scientific-Atlanta. As the digital revolution continues, by the year 2004 the
number of digital set-top boxes deployed is expected to increase seven-fold.
Both Concurrent and Vivid are recognized technical leaders in VOD technology
providing VOD and interactive applications to the cable industry. Each company
has developed unique advantages that will now be available to their combined
customers, providing the combined operations with greater depth to meet a
broader range of application needs.
The Vivid and Concurrent video servers use industrial PC server hardware. Both
solutions offer a fully integrated system including Video Streaming, Interactive
Application Support VOD Set-top Management, and Purchase Tracking with billing
system interface. Vivid's VOD System has been integrated with General
Instrument's DCT1000 and DCT2000 set-top boxes. Concurrent's VOD system has
been integrated with Scientific-Atlanta's Explorer 2000 set-top box and head-end
equipment. Concurrent is also working with content providers such as TVN,
Viewer's Choice, and Intertainer. Concurrent's BackOffice Software Suite,
co-developed with PRASARA Technologies, has been optimized to meet the
operational and management requirements of cable operators. Concurrent is also
working with several conditional access providers, such as Nagravision and NDS,
in addition to the aforementioned set-top box manufacturers. The combined
technologies of Concurrent and Vivid coupled with their existing partners
provide Concurrent with the broadest product offering in the marketplace.
Fred Allegrezza, Founder and President of Vivid Technology, stated, "As a result
of all the consolidation in the cable industry, it makes sense for us to merge
our GI digital video server solution with the company that offers the best SA
digital video server solution. Concurrent's technology provides the most viable,
robust SA-compatible solution; and thus we feel that Concurrent is the right
company to leverage the Vivid technology."
-more-
<PAGE>
Concurrent/Vivid
October 28, 1999
Page 3
Robert Clasen, former President of Comcast Cable and Chairman of the Board of
Vivid Technology added, "Based on my experience in the CATV industry and my
early involvement with Vivid, I am a firm believer that VOD is the most exciting
application yet for digital customers. Combining the Vivid and Concurrent
technologies gives Concurrent a tremendous advantage over other VOD vendors.
With this deal, we expect to win the Time-to-Market race."
E. Courtney Siegel, Chairman, President and Chief Executive Officer of
Concurrent Computer Corporation commented, "With Vivid's lead in the GI
marketplace, this acquisition made perfect sense. For Concurrent, this deal
will broaden our product suite and customer base and be accretive almost
immediately."
Vivid Technology (http://www.vividtech.com) will be integrated into the Xstreme
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Division of Concurrent Computer Corporation, headed by Steve Nussrallah,
President of Concurrent's Xstreme Division. Fred Allegrezza, President of Vivid
Technology, will continue on with Concurrent reporting directly to Nussrallah.
The Vivid facilities in Chalfont, Pennsylvania will become a new Concurrent
office.
Steve Nussrallah, President Xstreme Division, added, "I am pleased to welcome
Vivid to the Concurrent team. This deal will enable Concurrent to offer a VOD
solution to every cable operator - no matter what its platform requirements
are." He added, "Vivid brings other assets to the deal such as its integrated
QAM technology, its network management, its Pennsylvania facility, and the
talent that resides there."
The Principals of Vivid have over twenty years experience in communications
technologies, including interactive digital cable networks. Their extensive
backgrounds include Product Management, System Design, Software and Hardware
Design, Product Development, System Integration, and System Deployment.
ABOUT CONCURRENT
Concurrent Computer Corporation (http://www.ccur.com), headquartered in Atlanta,
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Georgia, is
a leading provider of high-performance computer systems, software, and servers.
Concurrent Computer Corporation's Xstreme Division is a leading supplier in the
emerging digital video
-more-
<PAGE>
Concurrent/Vivid
October 28, 1999
Page 4
server marketplace. This market includes the broadband/cable, corporate
training, education, hospitality, and in-flight entertainment industries.
Operating in 32 countries worldwide, Concurrent provides sales and support from
offices throughout North America, South America, Europe, Asia, and Australia.
Certain matters discussed in this news release may be "forward-looking
statements" as defined in the Private Securities Litigation Reform Act of 1995.
Concurrent Computer Corporation cautions investors that any forward-looking
statements made herein are not guarantees of future performance and that a
variety of factors could cause its actual results and experience to differ
materially from the anticipated results or other expectations expressed in such
forward-looking statements. The risks and uncertainties that could affect
Concurrent Computer Corporation's performance or results include, without
limitation, changes in product demand; economic conditions; various inventory
risks due to changes in market conditions; uncertainties relating to the
development and ownership of intellectual property; uncertainties relating to
the ability of Concurrent Computer Corporation and other companies to enforce
their intellectual property rights; the pricing and availability of equipment,
materials, and inventories; technological developments; delays in testing of new
products; rapid technology changes; the highly competitive environment in which
Concurrent Computer Corporation operates; the entry of new well-capitalized
competitors into Concurrent Computer Corporation's markets; and other risks and
uncertainties.
# # #
Note to Editors: For additional company or product information from Concurrent
Computer Corporation, please contact Concurrent Computer Corporation, 4375
RiverGreen Parkway, Duluth, Georgia 30096. Call toll free in the U.S. and Canada
at (877) 978-7363 or (678) 258-4000, or fax (678) 258-4300. Readers can also
access information through the company's web site at http://www.ccur.com.
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Concurrent Computer Corporation is a registered trademark and MediaHawk is a
trademark of Concurrent Computer Corporation. All other products are trademarks
or registered trademarks of their respective owners.
<PAGE>
EXHIBIT 99.2
For More Information Contact:
- --------------------------------
Concurrent Computer Corporation Concurrent Computer Corporation
Andrea Ariza (Media) Beth Alonzo (Analysts/Investors)
(678) 258-4070 or [email protected] (954) 973-5100
FOR IMMEDIATE RELEASE
STEVEN R. NORTON NAMED CHIEF FINANCIAL OFFICER OF
CONCURRENT COMPUTER CORPORATION
Atlanta, Georgia, November 1, 1999 -- Concurrent Computer Corporation
(NASDAQ:CCUR) announced today that Steven R. Norton has joined the company as
Executive Vice President and Chief Financial Officer. Prior to joining
Concurrent Computer Corporation, Mr. Norton served for over 3 years as the Vice
President of Finance and Administration for LHS Group Inc. and the Chief
Financial Officer for LHS Communications Systems, Inc. In this role, one of his
many responsibilities, together with the Chief Financial Officer of LHS Group
Inc., was the initial public offering of common stock of LHS Group Inc. which
was completed in May 1997 and subsequent regulatory filings required by the
Securities and Exchange Commission. Prior to his employment at LHS, Mr. Norton
was an Audit Senior Manager for Ernst & Young LLP for 8 years in Grand Rapids,
Michigan and Frankfurt, Germany and at KPMG Peat Marwick in Atlanta, Georgia for
5 years.
E. Courtney Siegel, Chairman of the Board, President and Chief Executive Officer
of Concurrent Computer Corporation said, "We are delighted to have Steve on
board. His international, operational, and financial experience with a publicly
held company in a high-tech growth industry similar to ours are qualities that
we believe will provide significant benefit to Concurrent."
Concurrent Computer Corporation (HTTP://WWW.CCUR.COM), headquartered in Atlanta,
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Georgia, is a leading provider of high-performance computer systems, software,
and servers. Concurrent
-more-
<PAGE>
Concurrent/CFO
November 1, 1999
Page 2
Computer Corporation's Xstreme Division is a leading supplier in the emerging
digital video server marketplace. This market includes the broadband/cable,
corporate training, education, hospitality, and in-flight entertainment
industries. Concurrent is also a leading provider of high-performance, real-time
computer systems, solutions, and software for commercial and government markets.
The company's 30-year old real-time business focuses on strategic market areas
that include: hardware-in-the-loop and man-in-the-loop simulation; data
acquisition; industrial systems; and software and embedded applications.
Operating in 32 countries worldwide, Concurrent provides sales and support from
offices throughout North America, South America, Europe, Asia, and Australia.
# # #
Note to Editors: For additional company or product information from Concurrent
Computer Corporation, please contact Concurrent Computer Corporation, 4375 River
Green Parkway, Duluth, Georgia 30096. Call toll free in the U.S. and Canada at
(877) 978-7363 or (678) 258-4000, or fax (678) 258-4300. Readers can also access
information through the company's web site at http://www.ccur.com.
-------------------
Concurrent Computer Corporation is a registered trademark of Concurrent Computer
Corporation. All other products are trademarks or registered trademarks of their
respective owners.
<PAGE>
