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To: KevRupert who wrote (2)4/17/2000 7:43:00 PM
From: KevRupert
   of 6
 
OTG Software Announces Latest Version of COLDXtender
BETHESDA, Md., April 10 /PRNewswire/ -- OTG Software Inc. (Nasdaq: OTGS - news) today announced at the AIIM 2000 Conference the upcoming release of a new version of its COLDXtender product. A complete reengineering of the original COLDXtender that stores and manages ASCII and EBCDIC data, the new version of COLDXtender includes support for advanced print streams, including IBM's AFP, Xerox's Metacode, HP's PCL, and Adobe's PDF. Customers will realize significant benefits from this new version of COLDXtender, including E-commerce enablement, electronic bill presentment, and remote delivery of composed documents. In addition, the new client/server version provides high-fidelity delivery over OTG's XtenderSolutions environments.

Expected to be released 3Q, the new version of COLDXtender is in beta testing at several OTG customer sites spanning multiple industries, including financial services, insurance, and manufacturing.

About OTG Software

Headquartered in Bethesda, Maryland, OTG Software, Inc. is a leading provider of online data storage management and data access solutions. OTG's software enables enterprises to move, store, manage and access data quickly and efficiently over a variety of network architectures, including the Web and storage area networks. OTG's products support many different types of storage devices, are easy to install and use, and can manage storage systems ranging in size from a single storage device to an enterprise-wide network storage system. OTG's products are available worldwide through a network of VARs, distributors and OEMs.

SOURCE: OTG Software Inc.

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To: KevRupert who wrote ()4/18/2000 8:26:00 PM
From: KevRupert
   of 6
 
Email acquisition:

SOURCE: OTG Software, Inc.
OTG Software to Broaden its E-Mail Storage Technology Through Agreement to Acquire Xvault, Inc.
BETHESDA, Md., April 18 /PRNewswire/ -- OTG Software, Inc. (Nasdaq: OTGS - news), a leading provider of interactive data storage management and data access software, today announced an agreement to acquire xVault, Inc., a leading provider of e-mail solutions headquartered in Falls Church, VA. This acquisition will strengthen OTG's ability to address the growing e-mail storage management market, and enhances OTG's strategy of becoming a leader in storing, tracking and retrieving e-mail. The combination of OTG and xVault will allow OTG to provide its customers with access to stored e-mail and attachments through a combination of OTG's indexing and direct read capability, and xVault's e-mail migration and intelligent search technology.

The transaction provides for the payment of approximately $6,000,000 in cash and OTG Common Stock. The acquisition is subject to customary closing conditions and is expected to close later this week.

The acquisition enhances OTG's capability to move into the e-mail message storage management market. International Data Corporation, an independent research firm, reports that in 1999 in the United States alone, 3.2 billion e- mails per day were sent, and this is projected to grow to over 9 billion per day in 2003.

``The acquisition of xVault will enable OTG to provide a unique and comprehensive e-mail management solution. We will reduce the clutter on e- mail servers and intelligently index and store e-mail messages and their attachments, while providing access through OTG's core DiskXtender storage technology coupled with xVault's search capabilities,' said Richard Kay, president and CEO of OTG Software.

``We are very excited about this marriage of technologies, which we believe will be a powerful tool for total e-mail management,' added Al Sivick, president of xVault. ``OTG's broad and established reseller network will also enable us to grow much faster.'

About OTG Software

Headquartered in Bethesda, Maryland, OTG Software, Inc. is a leading provider of online data storage management and data access solutions. OTG's software enables enterprises to store, track and retrieve data over a variety of network architectures, including the Web and storage area networks. OTG's products support over 700 storage devices, are easy to install and use, and can manage storage systems ranging in size from a single storage device to an enterprise-wide network storage system. OTG's products are used by over 7,000 organizations worldwide and are available through a network of over 300 VARs, distributors and OEMs. For more information, contact OTG at www.otg.com or 800-324-4222.

About xVault

Founded in 1998, xVault is a leading provider of e-mail solutions to government, business and industry. xVmail, the company's flagship product, provides a total e-mail archiving solution with hardware provided by strategic partners such as JVC's Professional Computer Products Division. xVault sells its products domestically and internationally through its sales partners in North America, Europe, Japan, Taiwan, Australia, and Singapore. The company is headquartered in Falls Church, Va. For more information, visit the company's web site at www.xVault.com.

SOURCE: OTG Software, Inc.

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More Quotes and News: OTG Software Inc (NasdaqNM:OTGS - news)
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Copyright ¸ 2000 Yahoo! All Rights Reserved. Privacy Policy - Terms of Service
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To: KevRupert who wrote ()4/26/2000 2:16:00 AM
From: KevRupert
   of 6
 
OTGS 1st Q Results:

Tuesday April 25, 5:39 pm Eastern Time

Company Press Release

SOURCE: OTG Software, Inc.

OTG Software Reports Results for First Quarter 2000, with Record Revenues

- Revenues 53% Higher Than for First Quarter 1999 -

BETHESDA, Md., April 25 /PRNewswire/ -- OTG Software, Inc. (Nasdaq: OTGS - news), a provider of interactive data storage management and data access solutions, today announced financial results for the first fiscal quarter of 2000.

For the first quarter ending March 31, 2000, OTG Software achieved record revenues of $8.3 million. The results, a 53% improvement compared with revenues of $5.4 million recognized in the first quarter of 1999, mark the ninth consecutive quarter the Company's revenue has increased quarter to quarter. The Company realized operating income of $54,000 for first quarter 2000 and a loss per share (diluted) of $0.02. For the comparable period in 1999, the Company realized operating income of $106,000, and a loss per share (diluted) of $0.02.

Software license revenues for first quarter 2000 were $6.4 million compared with $3.8 million for first quarter 1999, an increase of 68%. Services revenues for the quarter were $1.9 million compared with $1.6 million for first quarter 1999, an increase of 17%. Operating expenses for the quarter increased to $7.1 million from $4.4 million for first quarter 1999.

In March 2000, OTG Software successfully completed an initial public offering of five million shares of common stock, raising gross proceeds of $95 million. As of March 31, 2000, the Company had cash and cash equivalents of $70.7 million. Besides direct costs of the offering, the Company used some of the proceeds of the offering to retire substantially all of its long-term debt.

In April 2000, the Company acquired xVault, Inc., a leading provider of e-mail solutions, for approximately $6 million, including 160,000 shares of stock, and cash of $1.9 million. This acquisition is expected to close today.

Richard A. Kay, president and CEO of OTG Software, said, ``We are very pleased with our strong financial performance during the first quarter of this important year for OTG. We continue to focus on investing in sales and marketing, and leveraging our core technology to expand our product offerings.

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To: KevRupert who wrote ()5/13/2000 9:23:00 PM
From: KevRupert
   of 6
 
Call company for info on the Japanese investment. What is the % of ownership. Any regulatory filings? Intent on increasing ownership %?

Strong ownership by Maryland investors.

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