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EXHIBIT 99
NEWS RELEASE FOR MORE INFORMATION:
FOR IMMEDIATE RELEASE Gregg Waldon
IntraNet Solutions, Inc.
(952) 903-2003
[email protected]
Tamsen Reinheimer
Price Public Relations
(650) 829-5800
[email protected]
INTRANET SOLUTIONS ACQUIRES PROFITABLE IED DIVISION OF INSO FOR $55 MILLION CASH
Strategic Move Expands XML and Wireless Capabilities for Xpedio Web Content
Management Solution
EDEN PRAIRIE, MN, JULY 10, 2000 - IntraNet Solutions(R), Inc. (Nasdaq: INRS), a
leading provider of Web content management software for the enterprise, today
announced the acquisition of Inso's Information Exchange Division (IED). IED's
products and technologies will be integrated with IntraNet Solutions' Xpedio Web
Content Management product line, strengthening its position as the leading
content management solution for business-to-business and business-to-employee
Web sites. The acquisition is anticipated to be accretive, notwithstanding
acquisition costs and amortization of goodwill and intangibles. It will be
accounted for as a purchase, and IED will operate as a division of IntraNet
Solutions.
IED is the market leader in Web conversion and mobile device viewing
technologies and applications. Its products provide conversion of over 225
different file types to Web formats including XML, HTML or Wireless Markup
Language (WML). Additionally, IED provides viewing technology for the Windows CE
and Symbian operating systems that allows users of these mobile devices to
readily view files from desktop applications -- for example, when a spreadsheet
is delivered as an email attachment.
"This acquisition accelerates and expands our strategy of securely
providing dynamic, personalized content from any data source to any Web client,
including the next generation of mobile and wireless devices," said Robert
Olson, president and chief executive officer of IntraNet Solutions. "We gain a
tremendous knowledge and product base in key areas such as XML, WML and wireless
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IntraNet Solutions Acquires IED Division of Inso Page 2
viewing technologies, as well as a high-quality base of clients that offers us
strong upgrade potential. We will also augment the great success we've had in
providing hundreds of intranet, extranet and Internet applications across
Global 2000 organizations by adding a broad range of additional solutions, such
as dynamically serving information to wireless devices for field-based
maintenance applications or to remote sales organizations."
Added Olson, "The IED acquisition shares many of the same characteristics
as last year's extremely successful acquisition and integration of automated
Web content publishing leader InfoAccess. IED is a profitable organization with
a solid revenue stream and great technology, offering us strong synergies in
both directions. We also gain over 100 professionals, increasing our depth
across all areas of the company, including an additional 60 people in research
and development. We believe that the highly-experienced management and staff
are an exceptional fit with our own dedicated professionals, and that the
combined product and market opportunities are virtually unlimited."
IED is based in Chicago, Illinois and has approximately 350 OEM customers
including Compaq Computer Corporation, Novell and SUN Microsystems. Corporate
customers number 450 and include Hewlett-Packard, Agilent Technologies, Merrill
Lynch, KPMG and Shell Oil. Combined, IntraNet Solutions and IED will have over
270 employees, a highly skilled and proven management team, and a customer base
of over 1,600. The development staff will exceed 90 and will utilize
development centers across the country including Minneapolis, Boston, Seattle,
Chicago and Scottsdale. The sales and marketing organization will consist of
over 100 people with strong direct and indirect channels.
"This acquisition provides IntraNet Solutions with new key technologies in
the XML and wireless areas that will further broaden their enterprise content
management offerings," said Andrew Warzecha of META Group. "And from a
development and sales standpoint, the combination is highly complementary and
allows IntraNet Solutions to more quickly take advantage of the large Web
content management opportunity which we estimate will be $10 billion by 2004."
ABOUT INTRANET SOLUTIONS
IntraNet Solutions(R), Inc. (www.intranetsolutions.com), headquartered in
Eden Prairie, Minnesota, offers the award-winning Xpedio Content Management
System, the industry's first end-to-end Web content management solution. Xpedio
provides rapid deployment of highly scalable business-to-business and
business-to-employee Web sites. IntraNet Solutions' products are used worldwide
by
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IntraNet Solutions Acquires IED Division of Inso Page 3
over 850 customers including Agilent Technologies, Cargill Incorporated,
Ericsson Telecom AB and Merrill Lynch. IntraNet Solutions has offices
throughout the U.S. and international offices in London, Amsterdam and
Australia.
# # #
Any forward-looking statements in this release are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that all forward-looking statements involve risk and
uncertainties including, without limitation, risks of intellectual property
litigation, risks in technology development and commercialization, risks in
product development and market acceptance of and demand for the Company's
products, risks of downturns in economic conditions generally and in the Web
content management tools and intranet information management markets
specifically, risks associated with competition and competitive pricing
pressures, risks associated with foreign sales and higher customer concentration
and other risks detailed in the Company's filings with the Securities and
Exchange Commission.
IntraNet Solutions is a registered trademark and the IntraNet Solutions'
logo, and Xpedio and the Xpedio logo are trademarks of IntraNet Solutions, Inc.
in the USA and Canada. All other trade names are the property of their
respective owners.
