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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): September 8, 1999
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GENERAL MAGIC, INC.
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(Exact name of registrant as specified in its charter)
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<S> <C> <C>
DELAWARE 77-0250147
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification Number)
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420 NORTH MARY AVENUE SUNNYVALE, CALIFORNIA 94086
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (408) 774-4000
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Not applicable
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On September 8, 1999, General Magic, Inc., the Registrant, issued a press
release announcing a new organizational structure and a reduction of
approximately 20% of its current work force. A copy of the press release is
filed as Exhibit 99.1 and incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) FINANCIAL STATEMENTS OF BUSINESS ACQUIRED. Not applicable.
(b) PRO FORMA FINANCIAL INFORMATION. Not applicable.
(c) EXHIBITS.
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Exhibit No. Description
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99.1 Press release of the Registrant, dated September 8, 1999,
announcing a new organizational structure and a reduction
of approximately 20% of its current work force.
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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 hereunto duly authorized.
General Magic, Inc.
By: /s/ MARY E. DOYLE
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September 8, 1999 Mary E. Doyle
General Counsel and Secretary
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EXHIBIT INDEX
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Exhibit No. Description
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99.1 Press release of the Registrant, dated September 8, 1999,
announcing a new organizational structure and a reduction
of approximately 20% of its current work force.
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Media Contact: Investor Contact:
Judy Radlinsky Laura Crowley
General Magic General Magic
1 + 408 774 4290 1 + 408 774 4457
[email protected] [email protected]
GENERAL MAGIC ANNOUNCES NEW STRUCTURE TO ENHANCE
ITS INTERNET AND CUSTOM SOLUTIONS BUSINESSES
Company Also Announces Workforce Reduction
SUNNYVALE, Calif. (Sept. 8, 1999) - General Magic, Inc. (Nasdaq: GMGC)
today announced a new organizational structure to enhance the growth potential
in its Internet business and respond to ongoing requirements for use of its
innovative magicTalkTM voice user interface platform in custom solution
applications. A workforce reduction was also announced as part of ongoing
initiatives to manage company resources.
The company has formed an Internet Services Group and a Custom Solutions
Group. The Internet Services Group has responsibility for General Magic branded
services including myTalk and Portico, and offers hosting services for
third-party services such as Excite Voicemail. The Custom Solutions Group offers
professional services and custom engineering to companies that want to tailor
General Magic's magicTalk platform for use in their own voice-based
applications. BellSouth's initial deployment of Portico in the Atlanta area is
an example.
In keeping with its recent emphasis on the Internet and the need to focus
its resources, General Magic also announced that it is cutting approximately 20
percent of the positions at the company, primarily in administrative and support
areas.
"In our shareholder call at the end of July, General Magic indicated
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General Magic/Page 2
that we are aggressively focusing on our Internet business because it presents a
more promising near-term opportunity," said Steve Markman, chairman, chief
executive officer and president, General Magic. "From our discussions with
potential partners, we also recognize that service providers want the
flexibility to tailor the use of our magicTalk platform to their needs. Today's
announcements are in keeping with these directions and will enable us to respond
quickly to new opportunities and continue to efficiently manage company
resources."
General Magic was founded in 1990 with a vision to make communications
convenient for people on the go. Since then, the company has pioneered the
development of voice-based user interfaces, which allow people to get tasks done
by simply speaking and listening, rather than punching keys or buttons. Its
latest innovation is the myTalk Web service, http://www.myTalk.com. myTalk is a
free service, accessed from a toll-free number, that lets consumers listen and
reply to their e-mail by voice and make short phone calls just by saying "Dial a
number".
ABOUT GENERAL MAGIC
General Magic offers voice-enabled services and technology that make
communication and access to information easy and convenient. The company's
innovative, patent-pending magicTalk voice interface lets people interact with
information using their own words, as if they were talking to another person.
For more information about General Magic, visit the company's Web site at
http://www.generalmagic.com. Investors with questions may call Shareholder
Communications at 1 + 877-245-6973.
# # #
General Magic notes that this press release contains forward-looking statements.
There are risks and uncertainties that may cause actual results to vary
materially. These risks and uncertainties include, but are not limited to, the
adequacy of the company's financial resources to execute its business plan; the
company's ability to attract advertisers and sponsors and its ability to
generate revenues from advertising sales; the company's ability to attract,
retain and motivate key technical, marketing and management personnel; the
capability of the Network
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General Magic/Page 3
Operations Center to handle increases in demand; market acceptance of the
company's services and technologies; the challenges inherent in the development
and delivery of complex technologies; the ability of the company's third-party
technology partners to timely develop, license or support technology necessary
for the company's services; and the company's ability to respond to competitive
developments. These and other risk factors are detailed in General Magic's
Registration Statement on Form S-3, filed on August 18, 1999.
General Magic, magicTalk and myTalk are trademarks of General Magic, Inc., which
may be registered in some jurisdictions.
