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Exhibit 99.1
NEWS RELEASE
CONCORD AND EMPIRE COMPLETE MERGER
Contact: Melissa Cruz Amy Conefrey
Director of Finance Public Relations Manager
Concord Communications, Inc. Concord Communications, Inc.
(508) 303-4361 (508) 303-4322
mcruz@concord.com aconefrey@concord.com
Marlboro, MA-October 29, 1999-Concord Communications, Inc. (Nasdaq: CCRD) today
announced the completion of its merger with privately-held Empire Technologies.
Concord is the market leader in next-generation performance management
solutions that ensure effective e-business performance for service providers
and enterprise organizations. Empire is a leading provider of proactive systems
and application management solutions.
Under terms of the transaction announced on October 19, 1999, Concord
Communications completed its merger with Empire Technologies and issued 815,248
shares of Concord's common stock in the merger. The transaction is being
accounted for as a pooling of interest. As a result of the merger, Concord will
recognize a one-time charge of approximately $1 million in transaction costs
and a final expense for an assumed acquisition-related compensation liability
of $1.3m, for the quarter ended December 1999.
About Empire Technologies
Empire Technologies, a Concord Communications Company, is a leading provider of
solutions for proactive self-management of UNIX and Windows NT systems, as well
as mission-critical applications. Established in 1992, Empire has a worldwide
installed customer base including large financial institutions, utility
companies, government agencies, telecommunication companies and service
providers. Empire is headquartered in Atlanta, Georgia. For more information on
the company and its products, please visit Empire's World Wide Web site at
www.empire.com.
About Concord Communications
Concord Communications, Inc. (NASDAQ: CCRD) is the market leader in
next-generation performance management solutions. With the recent addition of
Empire Technologies, Concord offers the only integrated performance management
solution spanning systems, applications, services and networks. Only by
successfully managing performance across all of these key areas can
organizations truly ensure effective e-business. This end-to-end performance
view provides the critical insights needed to power day-to-day business and
e-commerce operations for some of today's most successful corporations and
service providers worldwide. Concord is headquartered in Marlboro,
Massachusetts. For more information on Concord, call 1-800-851-8725 or visit
Concord's World Wide Web site at http://www.concord.com.
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Any statements contained in this press release that do not describe historical
facts may constitute forward looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. Any forward looking
statements contained herein are based on current expectations, but are subject
to a number of risks and uncertainties.
The factors that could cause actual future results to differ materially from
current expectations include the following: Fluctuations in customer demand; the
Company's ability to manage its growth; the risk of new product introductions
and customer acceptance of new products; the rapid technological change which
characterizes the Company's markets; the risks associated with competition; the
risks associated with international sales as the Company expands its markets;
and the ability of the Company to compete successfully in the future, risks
associated with the Year 2000 problem and the potential delay of customer
purchasing decisions, as well as other risks identified in the Company's
Securities and Exchange Commission filings, including but not limited to those
appearing under the caption "Risk Factors" in the Company's year-end December
31, 1998 10-K filed with the SEC on March 25, 1999.
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