Announces Sale of Select Product Line to Aonix
Princeton Softech, a wholly-owned subsidiary of Computer Horizons Corp. (Nasdaq: CHRZ), today announced the sale of the Select software product line to Aonix, a member of the Gores Technology Group. This transaction includes all of the software assets and intellectual property rights associated with the Select products. The financial terms of the transaction were not disclosed.
Aonix acquired the Select product line to strengthen its ‘Lifecycle Solutions’ group’s expertise and product offering in business driven, component based design and development. Aonix president and CEO, Ashley Abdo added, “Select customers can be assured that Aonix is committed to the continued success of these products.”
“The sale of the Select product line is a critical enabling factor for Princeton Softech to become the market leader in the active archiving category. We can now focus all of our efforts and resources on achieving this goal,” said Lisa Cash, president and CEO of Princeton Softech.
Active archiving is a critical new category in the data storage market. As corporate databases expand, companies face decreasing performance and diminished accessibility to data. “Those who are in touch with today’s data storage issues recognise that there is a crisis looming,” explained Cash. “The world’s data continues to multiply exponentially, so performance rates and accessibility to data are at risk. Our Archive products combat these problems.”
Princeton Softech’s Active Archive Solutions™ help companies improve application performance by storing data smarter. These solutions offer companies an opportunity to reduce upgrade costs and deploy IT resources to achieve a significant competitive advantage.
For additional information please contact:
Tel: +1 609 627 5500
Catherine Eyres/Mary Brain
Tel: +44 (0) 1494 434434
Aonix, a Gores Technology Group company, is a leading international software company with customers drawn from the Global 1000. It provides a comprehensive suite of products and services aimed at managing the complexity of today’s business-critical application development and information management. The Aonix Lifecycle Solutions division provides a comprehensive suite of software development products, including Software through Pictures®, Architecture Component Development®, Validator/Req™, TeleUSEÔ, ObjectAdaÔ, AdaWorld® and RavenÔ that support the customer’s development process, methods and tools. The result is minimised risk, improved developer productivity and increased software quality. The Information Access Management Solutions division provides products, such as Nomad® and UltraQuestÔ and services designed to dramatically simplify access and analysis of mainframe data. These solutions enable customers to adapt to the ever-changing requirements associated with enterpr!
ise data access and application development. Headquartered in San Diego, Aonix operates sales offices throughout North America and Europe in addition to a network of international distributors. More information about Aonix can be found on its Web site at www.aonix.com.
About Gores Technology Group
With headquarters in Los Angeles, Gores Technology Group (GTG) is a privately held international acquisition and management firm that pursues an aggressive strategy of acquiring promising high-technology organisations and managing them for growth and profitability. GTG’s established infrastructure currently manages a portfolio of 20 interrelated but autonomous technology-oriented companies that are located in 50 countries throughout the world. Those companies provide a broad range of technology-based products and services to a substantial customer base of 20,000 that represent over 2 million active users. Visit the company’s web site at www.gores.com.
About Princeton Softech
Princeton Softech (www.princetonsoftech.com), a wholly owned subsidiary of Computer Horizons Corp. (Nasdaq: CHRZ), is a software products and services company that helps enterprises enhance the performance of their systems by managing data smarter. The company allows enterprises to manage their mission-critical applications more efficiently through “active archiving.” By using Princeton Softech's suite of Active Archive Solutions, companies can identify and move complete sets of infrequently used data to the periphery of the production database, while maintaining accuracy, integrity, and business context. Princeton Softech is a leader in enterprise-scale data management solutions, with over 2,000 of the world's largest companies in more than 30 countries using Princeton Softech's products and services.
About Computer Horizons Corp.
Computer Horizons Corp. (Nasdaq: CHRZ) is a strategic e-Business solutions and professional services company that is powering a new breed of rapid growth Web developers. With thirty years of experience, CHC is a global leader in systems integration, migration and innovation, enabling companies to stay ahead of the technological curve. By leveraging its core business in IT services, CHC is offering a new breed of professional services through its E-Solutions Group, including its Princeton Softech and Chimes subsidiaries, to enable its Global 1000 customer base to compete in this new digital business environment. For more information on Computer Horizons, please visit our Web site at www.computerhorizons.com.
Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are ``forward-looking statements'' (within the meaning of the Private Securities Litigation Reform Act of 1995) that involve a number of risks and uncertainties. It is possible that the assumptions made by management--including, but not limited to, those relating to contract awards, service offerings, market opportunities, results, performance expectations, expectations of cost savings, or proceeds from sale of certain operations--may not materialise.
Actual results may differ materially from those projected or implied in any forward-looking statements. In addition to the above factors, other important factors include the risks associated with unforeseen technical difficulties, the ability to meet customer requirements, market acceptance of service offerings, changes in technology and standards, the ability to complete cost-reduction initiatives, the ability to execute the sale of certain operations or other initiatives, dependencies on key employees, customer satisfaction, availability of technical talent, dependencies on certain technologies, delays, market acceptance and competition, as well as other risks described from time to time in the filings of Computer Horizons Corp with the Securities Exchange Commission, press releases, and other communications.
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