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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d)
of the Securities and Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): April 3, 2000
METACREATIONS CORPORATION
(Exact name of registrant as specified in its charter)
Commission file number 0-27168
Delaware 95-4102687
(State of incorporation) (I.R.S. Employer Identification Number)
6303 Carpinteria Ave, Carpinteria, CA 93013
(Address of principal executive offices)
(805) 566-6200
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
The purpose of this Form 8-K is to file a press release issued by MetaCreations
Corporation ("MetaCreations") and Metastream Corporation ("Metastream") on April
3, 2000, announcing the appointment James A. Abate as Chief Financial Officer of
both MetaCreations and Metastream and Paul Kadin as Chief Marketing Officer of
Metastream. A copy of the press release is filed herewith as Exhibit 99.1 and is
hereby incorporated by reference to this Item 5.
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SIGNATURES
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.
METACREATIONS CORPORATION
(Registrant)
Date: April 5, 2000 /s/ JAY W. JENNINGS
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Jay W. Jennings
Vice President and Chief Financial Officer
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INDEX TO EXHIBITS
Exhibit
Number Description
- ------- -----------
99.1 Press Release dated April 3, 2000, announcing the
appointment James A. Abate as Chief Financial Officer of
both MetaCreations and Metastream and Paul Kadin as Chief
Marketing Officer of Metastream.
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EXHIBIT 99.1
- ------------
FOR IMMEDIATE RELEASE
METACREATIONS AND METASTREAM APPOINT NEW CHIEF OF FINANCE & OPERATIONS; NEW
CHIEF OF MARKETING FOR METASTREAM
CREDIT SUISSE ASSET MANAGEMENT MANAGING DIRECTOR JOINS METACREATIONS AND
METASTREAM AS CFO
NEW YORK, NY APRIL 3, 2000 - MetaCreations Corporation (Nasdaq: MCRE) and
Metastream Corporation, the global leader in providing visualization solutions
for the web and a subsidiary of MetaCreations, today announced the appointment
of Chief Financial Officer James A. Abate and Chief Marketing Officer Paul
Kadin. James Abate will represent both MetaCreations and Metastream as senior
vice president, finance and operations, and chief financial officer, replacing
Jay Jennings who served as the interim chief financial officer for
MetaCreations. Jennings will remain as vice president, finance and operations.
"It requires a most seasoned, disciplined management team to handle the rapid
growth stemming from the broad adoption of Metastream," said Bob Rice, president
and CEO of Metastream Corporation. "James Abate and Paul Kadin are exceptionally
well qualified to differentiate Metastream as we face this exciting challenge."
Mr. Abate joins MetaCreations and Metastream from Credit Suisse Asset Management
where he served as managing director and portfolio manager with responsibility
for the management of U.S. active equity portfolios and the firm's global sector
funds totaling over five billion dollars under management. Among his duties, Mr.
Abate was the portfolio manager of the Standard & Poor's Research AAA rated
Credit Suisse Transatlantic Fund, a U.K. distributed fund, and the Credit Suisse
Equity Fund USA, a Luxembourg-based fund selected by Forbes as one of the top
100 mutual funds available in Europe. He was recently noted as one of the top 20
investment fund managers in the U.K. by Investors Chronicle magazine and
received the North America Moneywise Magazine's Unit Trust Award. Mr. Abate also
served as the portfolio manager for CSAM's Global Technology & Internet Sector
funds. Prior to Credit Suisse, Mr. Abate worked for Vert Independent Capital
Research, Wall Street equity research boutique, where he was co-founder and
managing director. Previously, he was a manager in Price Waterhouse's
Valuation/Corporate Finance group and also served as a commissioned officer in
the U.S. Army. . Mr. Abate holds a B.S. in Accounting from Fairleigh Dickinson
University and an M.B.A. in Finance from St. John's University, and he is a
Chartered Financial Analyst and a Certified Public Accountant. .
"I am thrilled by the opportunity to participate in a company with such a rich
history in developing and innovating the world's leading graphics and
visualization products," said James. Abate. "Metastream recently introduced an
exciting new visualization platform, a host of strategic partnerships with some
of the world's most prominent e-tailers, interactive agencies and authoring tool
vendors. We are at the dawn of the three-dimensional computing environment, and
I hope to contribute with all members of the Companies in creating the standards
for this coming revolution."
As chief marketing officer, Paul Kadin will assume overall responsibility for
marketing and sales of Metastream 3 (MTS3) visualization technology and
successfully commercializing it throughout
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e-commerce. Kadin brings to Metastream over twenty-five years of marketing
experience in consumer products, financial services and technology, most
recently at Customer Dialogue Systems, a Belgian software start-up company
focused on interactive selling technology for retail financial services
industry, where he was president of the North American Division. Previously,
Kadin was executive vice president of Dreyfus Corporation in New York City and
senior vice president at Chase Manhattan Bank.
"Metastream is going to change the face of marketing online: MTS3 is a new
marketing visualization system for e-commerce, and I'm excited to be at the
forefront of this quantum change," said Paul Kadin, new chief marketing officer.
"It's not only the technology -- which is astounding and full of unique
advantages -- but it's also a unique way to manage branding and online
merchandising."
In related news earlier this week, it was announced that that Bob Rice,
president and CEO of MetaStream, is expected to also assume the position of CEO
of parent company MetaCreations Corporation later this month. This management
change would occur in conjunction with the completion of the divestiture of
MetaCreations' prepackaged graphics software applications, when it is expected
that current president and CEO Mark Zimmer will step down to pursue
opportunities that would allow him to remain in the graphics software industry.
MTS3, the new generation of Metastream Corporation's award-winning marketing
visualization technology, enables web users to experience online content like
never before. As announced last week, Metastream has established strategic
partnerships with America Online, Nike, Adobe, iPIX, Discreet, a Division of
Autodesk, Grey Interactive, Rare Medium and FCB Worldwide among others, to
facilitate broad adoption of MTS3. Delivering three-dimensional web content with
interactivity and unmatched visual fidelity, the goal of MTS3 is to unleash a
true-to-life online shopping experience for all users. Through its seamless web
media integration, Metastream is the first Internet solution that incorporates
3D images with other forms of web media, allowing for interaction with virtually
any type of online content. No matter the connection speed or hardware, MTS3
combines the benefits of the traditional in-store shopping experience with the
convenience and user-control of the Internet to bring e-commerce to a new level.
MTS3 builds upon the strong foundation and widespread, international adoption of
Metastream 2.0, last year's winner of such prestigious accolades as Popular
Science Magazine's Best of What's New 1999, and PC Magazine's Technical
Excellence award. The MTS3 viewer is now available for download. For more
information, visit http://www.metastream.com.
About Metastream Corporation
Metastream Corporation is the leading provider of marketing visualization
solutions and services that enable online retailers to host interactive product
presentations on the Internet. Metastream's primary initiatives include
licensing Metastream technologies for specific e-commerce initiatives, providing
a full range of fee-based professional services for implementing these 3D
solutions and forging strategic alliances with leading interactive agencies and
Web content providers. Metastream is 80 percent owned by MetaCreations
Corporation (Nasdaq: MCRE) and 20 percent by Computer Associates International,
Inc. (NYSE: CA) and is headquartered in New York City, New York. Additional
information about Metastream is available at http://www.metastream.com.
About MetaCreations
MetaCreations Corporation is focused on e-commerce visualization solutions for
the World Wide Web, and the Company's Internet strategy is being executed
through its subsidiary, Metastream Corporation. The Company is headquartered in
Santa Barbara County, California and can be reached on the World Wide Web at
http://www.metacreations.com.
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About Computer Associates
Computer Associates International, Inc. (NYSE: CA), the world's leading business
software company, delivers the end-to-end infrastructure to enable eBusiness
through innovative technology, services and education. CA has 18,000 employees
worldwide and had revenue of $6.3 billion for the year ended December 31, 1999.
For more information, visit www.ca.com.
This release contains forward-looking statements made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
Actual results may differ materially as a result of a number of risks and
uncertainties affecting the Company's business. Such risks include, but are not
limited to, the following: no assurance that a new president and CEO of
MetaCreations Corporation will be named later this month as expected, that MTS3
will gain broad market acceptance, influence online marketing, ship on time,
include the functionality as described in this press release, or that the
strategic partnerships mentioned herein will facilitate broad adoption of MTS3.
For a more detailed discussion of factors that affect MetaCreations' operating
results, interested parties should review MetaCreations' SEC reports, including
MetaCreations' Annual Report on Form 10-K for the year ended December 31, 1999,
and Quarterly Reports on Form 10-Q.
MetaCreations and Metastream are either registered trademarks or trademarks of
MetaCreations Corporation. Other product and company names herein may be
trademarks of their respective owners.
Press Contacts
Maria Poveromo
Corporate Communications
Metastream Corporation
(646) 485-9115
[email protected]
Betty Franklin
Investor Relations
MetaCreations Corporation
(805) 566-6289
bettyf@metacreations.
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