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Microsoft and Fox Software Announce Merger
Fox and Microsoft Expertise Will Bring Superior Solutions to
Database Customers
SAN FRANCISCO -- March 24, 1992 -- Microsoft Corporation
and Fox Software Inc. of Perrysburg, Ohio, announced today
that they intend to merge the two companies. Under the terms
of the letter of intent, Microsoft will exchange approximately
1.36 million shares of its common stock for all of the
outstanding stock of Fox Software. It is anticipated that the
exchange will be accounted for as a pooling of interests.
As part of the merger, David Fulton, president of Fox
Software, will join Microsoft as the database architect of
Microsoft's newly formed Database and Development Tools
division. Over time, Fox and Microsoft database development
teams will combine efforts at Microsoft's Redmond, Wash.,
headquarters.
"The merger with Fox Software will provide Microsoft with
great development talent, as well as leading-edge database
technology," said Bill Gates, Microsoft chairman and CEO.
"Our intention is to combine expertise and provide users with
a family of complementary products. The two companies will
benefit greatly from each other's experience and technology.
"Fox offers the best database development environment for
desktop database applications across multiple platforms,"
Gates continued. "It complements our forthcoming database for
Windows (codenamed Cirrus), the Microsoft SQL Server
transaction processing database server, and our Open Database
Connectivity (ODBC) technology. We soon will be able to offer
customers a complete family of superior scalable database
applications and development environments."
"Fox Software's FoxPro 2.0 has won numerous awards for
its speed, development tools, and user interface," said David
Fulton. "xBASE developers count on Fox products to create the
fastest possible database applications. With Microsoft's
marketing, distribution and international resources, we
believe our merger will help to ensure that the xBASE platform
has a viable and thriving future."
The proposed merger, which is subject to governmental
approval and execution of a final agreement, is expected to be
completed during Microsoft's fourth fiscal quarter.
Commenting on the financial impact, Frank Gaudette,
Microsoft CFO and executive vice president, said, "We do not
expect the transaction -- if completed in the quarter ending
June 30 -- to have a material financial effect on Microsoft's
June quarter results."
Fox Software is a privately held corporation
headquartered in Perrysburg, Ohio, with nine regional offices
throughout the United States. Worldwide operations are
supported by international offices in the United Kingdom,
Germany and France, with local distribution in the rest of
Europe, Africa, Latin and South America, and the Pacific Rim.
Microsoft Corporation (NASDAQ "MSFT") develops, markets
and supports a wide range of software for business and
professional use, including operating systems, network
products, languages and applications, as well as books,
hardware and CD-ROM products for the microcomputer
marketplace.
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Microsoft is a registered trademark and Windows is a trademark
of Microsoft Corporation.
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| Re: <<< Note 1820.3 by STAR::ABBASI "i^(-i) = SQRT(exp(PI))" >>>
Consider this further standardization (or the final enterrment)
of the old dBASE I,II,III,IV file formats and query languages.
Remember that Borland bought the rights to the orginal dBASE
just a few months ago and that FoxBase was reverse-engineered
from it. Now Microsoft and Borland each have a claim to be the
heirs to the old dBase business. What they'll do with it is
something else.
fwiw,
Dick
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