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ots Ad hoc-Service: PC-WARE Info. Technolo. <DE0006910904> PC-Ware signs agreement on takeover of European subsidiaries of Programmer's Paradise Inc

Leipzig (ots Ad hoc-Service) -

Ad hoc-announcement edited and sent by DGAP. The sender is solely
responsible for the contents of this announcement.
PC-Ware signs agreement on
takeover of European subsidiaries of Programmer's Paradise Inc. -
Accelerated expansion of international presence - PC-Ware to become a
leading European software company
PC-Ware Information Technologies AG, Leipzig has signed the
agreement to take over the European network of branches and
subsidiaries of the USA-based software specialist Programmer's
Paradise Inc. The closing is subject to several conditions, including
approval by stockholders of Programmer's Paradise at a meeting
scheduled to take place on Thursday, December 21st in New York, N.Y.
The closing of the sale will take place as soon as practicable after
December 21, 2000. The purchase price of EUR 14.5 million is to be
paid in cash.
The acquired companies generated annual sales of US$ 160 million
in 1999. This means that the expanding PC-Ware group will more than
double its total sales.
This strategic takeover substantially expands PC-Ware's presence
in all key European markets as well as the group's European
distribution channels. It also means that the company has
accomplished the goal announced at the time of its IPO, namely
internationalization, within a very short time. The companies to be
acquired - including Logic Soft in the Netherlands, ISP*D in Germany,
plus local companies in France, Britain, Italy and Austria - provide
software management and software licensing services to customers
across Europe. Also contributing experienced salesforces to the
growing European PC-Ware Group, they represent an ideal fit with
PC-Ware's portfolio.
The takeover of the European operations of Programmer's Paradise
will make PC-Ware a leading European software company, considerably
boosting its customer base which currently comprises more than 13,000
contractual accounts. From a sectoral point of view, the takeover
adds such important customer groups as banks, insurers and leading
manufacturers to the existing customer base. The availability of the
new distribution channels means that PC-Ware's SoftwareSupport
services and proprietary software products such as the "PC-WARE
in4meta" Internet site management system as well as the company's
electronic licensing technology can be offered on a Europe-wide basis
going forward.
For further information contact: Dr. Knut Loeschke CEO of PC-Ware
at 341 2568 000 William H. Willett, CEO of Programmer's Paradise Inc.
at 732-3898950
End 
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