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EXHIBIT 99.2
FOR IMMEDIATE RELEASE
Contacts:
Knox Richardson Jennifer J. Bourgoin
Phase Two Strategies Platinum Software Corporation
415/772-8450 888/450-4520
knox_richardson@p2pr.com jbourgoin@platsoft.com
Platinum Software Corporation
Completes FocusSoft Acquisition
Combined Product Lines Give Platinum Software Compelling Midmarket
ERP Solution for Microsoft Windows NT/SQL Server Platform
IRVINE, Calif., (Nov. 17, 1997) - Platinum(R) Software Corporation (NASDAQ:
PSQL), today announced the completion of its acquisition of FocusSoft Inc., of
Louisville, Kentucky. The closing took place on Friday, Nov. 14, 1997. Platinum
Software Corporation is a leading provider of midmarket business applications
including financial accounting and customer management software. FocusSoft is a
leading provider of midmarket manufacturing and distribution software
solutions. On Nov. 4, 1997, Platinum Software announced that it had entered
into a definitive agreement to acquire FocusSoft, demonstrating Platinum
Software's continued commitment and progress toward delivering on its corporate
strategy to offer integrated business applications to midmarket customers.
"Platinum Software has assembled a unique midmarket ERP (enterprise
resource planning) offering which is equally strong in accounting and
manufacturing functionality. Platinum(R) SQL, winner of the Microsoft Industry
Solutions Award for Best Functionality in Accounting, is a powerful combination
with FocusSoft's comprehensive Millenia manufacturing and distribution
applications," said Bill Pieser,
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Platinum Software Completes FocusSoft Acquisition - p. 2
senior vice president of marketing and business development. "With Platinum's
acquisition of Clientele in June, along with today's FocusSoft acquisition, our
midmarket ERP suite will deliver enhanced integration between customer
management, accounting and manufacturing/distribution."
POSITIVE CUSTOMER ENDORSEMENT
For more than three years, FocusSoft has worked closely with Platinum
Software as an integrated third-party software application. This ongoing
relationship has delivered 15 joint customers using FocusSoft's Millenia, an
integrated client/server application suite designed for manufacturing and
distribution industries, integrated with Platinum SQL, a leading client/server
financial application suite. Millenia and Platinum SQL both leverage the
technology of Microsoft(R) BackOffice(TM) -- Microsoft(R) SQL Server(TM) and
Windows NT(R).
Princeton Instruments is a leading developer of scientific measuring
equipment and high performance cameras used for scientific research in more
than 25 countries. To streamline their manufacturing and distribution
operations and more accurately track their finances, Princeton conducted an
extensive search for a comprehensive solution based on the latest technology --
choosing Microsoft SQL Server, Microsoft Windows NT, Platinum SQL and Millenia.
"Platinum Software Corporation and FocusSoft both have the technical
expertise and the extensive experience with Microsoft SQL Server that we were
looking for," said Tom Wisner, controller for Princeton Instruments. "Through
this acquisition, we anticipate a great combination of the strength of Platinum
Software's service and support with the flexible and scalable FocusSoft
product."
Harden Manufacturing Corporation, a manufacturer of bedroom and
occasional furniture, distributes their products to retailers worldwide. Harden
Manufacturing uses Platinum SQL and Millenia at all five manufacturing
factories.
"The links between the two software applications provide us an
integrated manufacturing and financial system with an easy-to-use interface,"
said Gene Matthews, vice president and chief financial officer for Harden
Manufacturing Corporation. "We are always proactive in getting the best for our
company, and
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Platinum Software Completes FocusSoft Acquisition - p. 3
Platinum SQL and Millenia running on the Microsoft BackOffice platform render a
powerful, scalable solution that will continue to grow with our company."
ACQUISITION TRANSACTION DETAILS
Platinum Software will issue up to 2.7 million shares of common stock
for all the outstanding shares and stock options of FocusSoft. The acquisition
is structured as a merger and is being accounted for as a pooling of interests.
ABOUT PLATINUM SOFTWARE CORPORATION
Platinum Software Corporation develops and markets leading
client/server software products for corporations worldwide. The company's
products enable organizations to scale their technology investments to meet the
changing needs of their businesses. Founded in 1984, Platinum Software is based
in Irvine, California. More information about Platinum Software Corporation and
its products and services is available at the Platinum World Wide Web site
# # #
Platinum is a registered trademark of Platinum Software Corporation. FocusSoft
is a trademark of FocusSoft, a subsidiary of Platinum Software Corporation.
Microsoft, Windows, BackOffice and Windows NT are registered trademarks of
Microsoft Corporation in the United States and/or other countries. All other
company and product names mentioned in this document are trademarks of the
respective companies with which they are associated and are acknowledged.
Certain of the statements contained in this press release are forward-looking
statements which involve a number of risks and uncertainties that could cause
actual results to differ materially. Specifically, comments related to the
timing of integration between Platinum and FocusSoft products is subject to a
number of risks and uncertainties. Some factors impacting the accuracy of the
forward-looking statement include: unexpected delays in integrating Platinum
and FocusSoft products; rapid technological change; frequent new product
introductions and other factors which may be discussed from time to time in the
Company's SEC filings. For a more detailed description of the risk factors
associated with the Company, please refer to the Company's Form 10-Q for the
quarter ending Sept. 30, 1997.