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EXHIBIT 99.2
Len Cereghino & Co. CLIENT: TIMELINE, INC.
CORPORATE INVESTOR RELATIONS CONTACT: Paula McGee
2605 Western Avenue, Seattle, WA 98121 Investor Relations
(206) 448-1996 (425) 822-3140
NEWS RELEASE
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TIMELINE ACQUIRES WORKWISE SOFTWARE, INC. IN STOCK TRANSACTION
BELLEVUE, Wash., November 30, 2000 -- Timeline Inc. (OTCBB: TMLN), a data
management and reporting technology firm, today announced it has entered into a
binding agreement to acquired WorkWise Software, Inc. Under terms of the
agreement, Timeline will exchange 250,000 shares of its common stock for 100% of
the issued and outstanding stock of WorkWise Software, Inc. The transaction is
expected to close in early December.
WorkWise develops software applications that streamline key business activities
for greater workplace efficiency, generally referred to as process automation,
the key element in workflow technologies. Its flagship product, Data Agent
Server (DAS) is an EAI (Enterprise Application Integration) software solution
for integrating software programs developed at different times by different
people using different database structures. The company's "Business Alert"
solution also automates and synchronizes notification messages pertaining to
specific events and business processes. WorkWise is a subsidiary of a private
corporation.
"The similarity between our business models, technology and customer base is
striking," said Craig Perkins, Timeline's Vice President of Product and
Technology. "We are excited about this opportunity to integrate capabilities and
technologies to further develop and capitalize on the fast-growing market for
data management. The combination expands our customer offerings to automate
messaging and data synchronization as well as monitoring and reporting for
specific data segments."
WorkWise provides productivity tools to improve business communications and
business processes. "Our technology for the automated movement of data is a
perfect fit with Timeline's core capabilities to segment and direct data for
specific applications," stated Mike Arthur, WorkWise's Director of Sales and
Marketing. "We also believe Timeline has an ideal management group to leverage
our patent pending technology in the data mart industry."
Charles R. Osenbaugh, Timeline's CEO concurs: "We believe the pending patent for
WorkWise's business alert process is of great immediate value as is their
trademark of the `Business Alerts' name. More importantly, this combination
makes sense on a number of operational levels. First, our business models of
delivering product predominately through channel relationships, including
private label, is similar. We already share a significant distribution partner
and feel we can cross sell these complementary products. Second, a portion of
WorkWise's technologies will be incorporated in Timeline's next version, making
it even stronger. Process automation will substantially enhance our budgeting
and consolidation products where automated publication and re-submission of data
based upon triggering events adds significant value. Finally, I believe WorkWise
can provide a stable source of revenue in its own right."
WorkWise Software, Inc. has reached its end-user customers both directly and
through OEM relationships. Some of WorkWise's direct sale customers include such
industry leaders as Capital Stream, Network Commerce, and iBenefits. Its OEM
partners include Sage Software, Best Software, SBT Software, Ascentis, Semaphore
and others.
"WorkWise, as part of the Timeline family, will now be positioned to further its
lead as the premiere EAI and alerting software provider for the mid-market,"
said Arthur. "Timeline's capabilities, expertise, and relationships are highly
complimentary to that of WorkWise and we expect Timeline will see substantive
new revenue opportunities generated as a result of cross-selling our respective
data transformation technologies.
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Timeline develops, markets and supports proven, Microsoft Windows-based
financial management reporting software suitable for complex applications such
as those found in medium to large, multinational corporations. Timeline Analyst
was developed for Windows, Office and Windows NT and takes full advantage of
Microsoft's latest operating systems. Timeline can be reached at 800-342-3365 or
on the web at www.timeline.com. For more information on WorkWise Software, Inc.,
visit its website at www.workwise.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: Statements in this news release looking forward in time involve risks and
uncertainties, including timely completion of the transaction, and trading
values of Timeline common stock, revenue growth or anticipated profit
contributions from acquired entities, market demand for third-party products
using Timeline's technology, risks associated with international business
models, obtaining further U.S. and international patent protection and other
risk factors detailed in the Company's Securities and Exchange Commission
filings.
Note: Transmitted on Business Wire on November 30, 2000 at 3:00 a.m. PDT.
