|[July 12, 2011]
Sebring Software, Inc. Announced the Acquisition of Award Winning Scalix Email and Calendaring Platform from Xandros, Inc.
SARASOTA, Fla. --(Business Wire)--
Sebring Software, Inc. (OTC BB: SMXI) a collaborative integration
software company offering on-premises and CLOUD solutions, today
announced the acquisition of Award winning Scalix Email and Calendaring
Platform from Xandros, Inc.
Sebring Software, Inc. announced the recent signing of a definitive
agreement to acquire Scalix Corporation from Xandros, Inc. Scalix was
acquired by Sebring for a total purchase price of $12 million or 5.66
times 2010 revenues. The payments are $5,750,000 in cash and 6,250,000
common shares of Sebring's stock, which for this transaction was valued
at $6,250,000 or $1.00 per share. The cash payments are being made over
six months, and the stock to Xandros will be issued following the cash
Sebring Software, Inc. CEO Leif Andersen said: "We are very pleased to
have executed an agreement to acquire Scalix Corporation, whose platform
we believe is truly the most robust Linux-based e-mail and calendaring
platform available today. Just as the market is moving to the more
reliable and affordable Linux-based solutions, we are confident that the
multi-billion corporate market for e-mail, calendaring and collaboration
software will also move towards Linux-based solutions. As more and more
companies move to CLOUD-based solutions, Linux-based systems such as
Scalix will be the winners. Linux-based systems are simply more
affordable and far more reliable."
Andreas Typaldos, CEO of Xandros, Inc. commented:
"Clearly, Sebring Sofware's executives are not alone in their enthusiasm
for Linux-based e-mail platforms. In recent years we have witnessed the
acquisitions of competitors to Scalix such as the acquisition of Zimbra
by VMware (NYSE: VMW), after Yahoo had first purchased it for $350M, and
the acquisition of PostPath by Cisco (News - Alert) Systems (NASDAQ: CSCO) for $225
million. As a result of the sale of Scalix, we are becoming a major
shareholder of Sebring Software, Inc. We believe that Sebring has a
bright future and an opportunity to offer us a significant upside return
through the potential appreciation of the price of SebringSoftware's
The single focus and the financial resources that Sebring plans to put
into Scalix will allow fast ramp-up of the Scalix opportunity, as well
as faster and more efficient support of both new customer opportunities
and existing customer needs than was possible within Xandros.
Conversely, the sale of Scalix allows Xandros to more exclusively focus
resources on products that it has developed and is marketing through
strategic development alliances with Microsoft (News - Alert) (NASDAQ: MSFT).
This sale also reflects our vote of confidence in the management team at
Sebring Software, led by Leif Andersen, who is an experienced executive
with a proven track record of success. We look forward to working with
Leif and the team at Sebring Software to assure that this acquisition of
Scalix Corp. delivers significant value to all Sebring shareholders."
Leif Andersen continued, "Working together with the existing team at
Scalix, we have developed an aggressive marketing campaign that will
enable us to build on the initial success Scalix has already achieved in
the marketplace. With existing technology partners such as IBM (NYSE:
IBM), Red Hat (News - Alert) (NYSE: RHT), Microsoft and many others, we are confident
that we can execute on our marketing plan. I cannot emphasize enough the
tremendous opportunity for Sebring Software and our shareholders that
this acquisition represents."
Scalix was initially developed by HP through a significant R&D effort
and was deployed into the market as a free email system as HP OpenMail,
before it was taken up to be commercialized by venture-backed Scalix
Inc. Scalix was subsequently sold to Xandros in 2007 where the product
was enhanced through an email technology licensing agreement with
The Scalix e-mail and calendaring platform is used by over 1,300
corporations in more than 65 countries.
In 2010 Scalix had gross revenues of $2,210,210 with income from
operations of $441,596 and comprehensive income after currency
translation adjustments of $561,360.
About Sebring Software, Inc.
Sebring Software (OTC BB: SMXI) is an emerging collaborative software
integration company offering on premises and CLOUD based solutions to a
variety of enterprise customers, both directly and through a network of
technology partners, distribution partners, and resellers. Sebring
Software's business plan is to license and acquire software platforms
that reduce IT infrastructure costs and increase enterprise efficiency,
productivity, and profitability. For more information visit www.sebringsoft.com
About Xandros, Inc.
Xandros is the leader in providing seamless Windows-Linux
interoperability on a variety of platforms. Leveraging its leading role
in helping launch the mobile netbook revolution with the award-winning
Linux-based Eee PC from ASUS, Xandros expanded its Windows-Linux
interoperability focus beyond mobile devices and netbooks into the
enterprise applications space through strategic technology alliances and
funding from Microsoft. As a result, the Company's BridgeWays subsidiary
now delivers cross-platform monitoring applications management packs to
provide seamless end-to-end management of business critical applications
on Windows, Linux and UNIX environments from one console utilizing the
Microsoft System Center platform. The Company's Scalix subsidiary
delivers Linux-based on-premises and CLOUD award-winning email,
calendaring and messaging products and services. Xandros is
headquartered in New York, with R&D offices in Ottawa, Canada;
Bracknell, UK; Frankfurt, Germany; and Mumbai, India. For more
information, please visit www.xandros.com.
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