Exhibit 99.1
Double-Take(R) Software Acquires
TimeSpring(R)
Company Extends Customers' Recovery Options with
"Any-Point-In-Time-Recovery" Capabilities
SOUTHBOROUGH, Mass.--(BUSINESS WIRE)--Dec. 26,
2007--Double-Take(R) Software (NASDAQ: DBTK) today announced the
acquisition of TimeSpring(R), a continuous data protection software
company. The acquisition bolsters Double-Take Software's protection
and back-up capabilities for virtualized and physical server
environments. Double-Take Software will integrate TimeSpring's unique
abilities to create any-point-in-time application consistent recovery
points into its suite of product offerings.
"We feel TimeSpring offers the best point-in-time recovery
capabilities in the market and we are thrilled that Double-Take
Software has selected us to extend its protection and recovery
portfolio," said Rick Carlson, CEO of TimeSpring.
With this acquisition, Double-Take Software broadens its overall
recovery strategy. Today business customers use Double-Take continuous
data replication to instantly recover the most recent version of their
data, applications and operating system. Adding TimeSpring to the
Double-Take suite of products, the company extends its recovery
approach beyond disaster recovery for catastrophic failures, to
operational recovery, such as recovering from routine human errors.
TimeSpring enhances Double-Take to perform granular, or item-level
recoveries, from any point in time. The combination of Double-Take
continuous replication with TimeSpring's Any-Point-In-Time
capabilities allows IT administrators the ability to "rewind" and
"fast-forward" the data on the server and recover to the moment before
an unwanted change.
The granularity of operational recovery extends to the
application-level, which allows users to see application data in
native format so they can easily recover from any point in time. The
product's application awareness allows administrators to determine
application consistency points which further enable their ability to
achieve superior operational recovery. This combined technology also
impacts how IT managers protect and recover specific applications as
follows:
-- Microsoft SQL - Recover SQL databases from multiple points in
time.
-- Microsoft SharePoint Services - Rewind through multiple
versions of a SharePoint site directly from within a browser
and recover items simply by dragging and dropping them from an
older version of the site to the latest version.
-- Microsoft Exchange - Access to item-level recovery
capabilities allowing for quick recovery of entire Exchange
mailbox databases or individual mail items, calendar
appointments and even Outlook tasks.
"In addition to acquiring TimeSpring's patented technology,
Double-Take Software is excited to be adding the Montreal-based
company's employees to its roster," said Dean Goodermote, CEO of
Double-Take Software. "TimeSpring's engineering expertise,
specifically in the area of file systems and application level
recovery, fits extremely well into Double-Take Software's core
capabilities as does its product design into our architecture. This
strategic acquisition aligns well with Double-Take Software's existing
and future products," Goodermote added.
The transaction was structured as a purchase of 100% of the
outstanding shares of TimeSpring, for a total cash purchase price of
approximately $8.3M plus transaction costs, subject to certain
customary post-closing adjustments.
Conference call information
Double-Take Software will host a conference call at 5 p.m. ET
today to discuss this announcement. To participate in the conference
call, please dial 800-817-2743 if you are calling within the United
States or 913-312-1484 if you are calling from outside the United
States. A live web cast will also be available on the investor
relations section at www.DoubleTake.com.
If you are unable to participate in the conference call, an audio
replay of the call will be available approximately two hours after the
conclusion of the call and remain available until Monday, December 31,
2008 at 11:59 p.m. ET. To access the audio replay, dial 888-203-1112
or 719-457-0820 and enter replay pass code number 9892404.
A replay of the web cast will be available on the investor
relations section at www.DoubleTake.com approximately two hours after
the conclusion of the call and will remain available for 90 calendar
days.
About Double-Take(R) Software
Headquartered in Southborough, Massachusetts, Double-Take(R)
Software (Nasdaq: DBTK) is a leading provider of affordable software
for recoverability, including continuous data replication, application
availability and system state protection. Double-Take Software
products and services enable customers to protect and recover
business-critical data and applications such as Microsoft Exchange,
SQL, and SharePoint in both physical and virtual environments. With
its unparalleled partner programs, technical support, and professional
services, Double-Take Software is the solution of choice for more than
ten thousand customers worldwide, from SMEs to the Fortune 500.
Information about Double-Take Software's products and services can be
found at www.doubletake.com.
This release includes forward-looking statements intended to
qualify for the safe harbor from liability established by the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements generally can be identified by phrases that say Double-Take
or its management "believes," "expects," "anticipates," "foresees,"
"forecasts," "estimates" or other words or phrases of similar import.
Similarly, statements in this release that describe the Company's
business strategy, outlook, objectives, plans, intentions or goals
also are forward-looking statements. All forward-looking statements
are inherently speculative, and are subject to risks and uncertainties
that could cause actual results to differ materially from those
anticipated in forward-looking statements. These risks and
uncertainties include those set forth from time to time in our filings
with the Securities and Exchange Commission. We are under no
obligation, and do not undertake any duty, to update these forward
looking statements statements at any time.
(C) Double-Take Software. All rights reserved. Double-Take,
GeoCluster, and NSI are registered trademarks of Double-Take Software,
Inc. Balance, Double-Take for Virtual Systems and Double-Take
ShadowCaster are trademarks of Double-Take Software, Inc. Microsoft,
Windows, and the Windows logo are trademarks or registered trademarks
of Microsoft Corporation in the United States and/or other countries.
TimeSpring is a trademark of TimeSpring Software Corporation. All
other trademarks are the property of their respective companies.
CONTACT: Double-Take Software
S. Craig Huke, 317-572-1857
Chief Financial Officer
investor@doubletake.com
or
Sapphire Investor Relations, LLC
Erica Mannion, 212-766-1800
Investor Relations
investor@doubletake.com