Adaptec Acquires Wild File, Leader In Continuous Backup and System Recovery Software
MILPITAS, March 14, 2000 - Adaptec, Inc. (NASDAQ: ADPT) today acquired Wild File, Inc., of Minneapolis, MN for approximately $29 million in cash, common stock and assumed stock options. Wild File is the maker of GoBack, the multiple award-winning desktop protection software that allows PC users to effortlessly undo a multitude of problems arising from system crashes, failed software installations, and user error. The software takes a computer back in time to virtually any moment in the recent past when everything was working fine. With the addition of GoBack to its software line, Adaptec now offers complete solutions for moving, managing, and protecting all types of content - audio, video, photo and data.
"PC users around the world manage and depend on a variety of data, but have not had an easy solution to protect against crashes and glitches. Adaptec is dedicated to protecting that valuable data and maintaining user productivity," said Tom Shea, vice president and general manager of Adaptec's Software Products Group. "Combined with Adaptec's Take Two and ReZOOM products, GoBack further expands the strongest suite of PC productivity protection software available. Adaptec now offers compelling applications that deliver data protection with minimal user investment of effort or time."
Adaptec entered the application software market in 1995 with CD recording products designed to help users move and manage their audio, video, photo and data files. Those products now lead the industry and win editorial awards around the world. Adaptec leveraged its CD recording software expertise into data protection and disaster recovery software packages such as Take Two and ReZOOM, and saw its software business grow to $23.2 million last fiscal quarter. By adding GoBack to its product portfolio, Adaptec is enhancing its position as the premier provider of software products that move, manage, and protect PC users' valuable content, and complementing its CD recording market lead with a market lead in disaster recovery.
Today, PC users increasingly rely on their computers for business and personal productivity and entertainment. PC users create presentations, search Internet Web sites, archive digital photos, download MP3 files, and send email attachments by the hundreds. This content is increasingly important to PC users, and the ability to protect it from system crashes, virus attacks, failed software installations and simple user errors is paramount.
To offer that protection, Wild File, Inc., of Minneapolis, a 20-year-old software company, introduced GoBack to overwhelming acclaim in 1998. Among GoBack's awards are PC Magazine's Editors' Choice, 2000 Codie Award for Utilities-Best Debut by the Software & Information Industry Association and PC World's Best Buy. GoBack already ships with the PC lines of several major OEMs accounting for over a million units every quarter, and has been listed as the number one Business and Productivity Software product on barnesandnoble.com.
Stephen Manes of Forbes wrote: "The conceptual genius of GoBack is that it requires no special knowledge of the way computers work. You don't have to know what went wrong or why; you simply order the machine to travel back in time to that golden age a couple of hours earlier when you knew things were working fine..."
GoBack is an immediate, self-service solution to common PC problems, including system crashes, virus attacks, failed software installations, operator error and accidental data loss. PCs protected by GoBack can circumvent costly technical support by stepping back in time to a point when everything was okay. Because GoBack runs underneath the Windows operating system, it can restore a PC to working order even if Windows won't boot (no special disk is required.) In addition, with GoBack users can retrieve individual files or directories, even those emptied from the Recycle Bin.
With Adaptec's existing ReZoom and Take Two data recovery solutions, Adaptec offers data protection depending on user needs: from simple disk imaging to full redundancy. It's protection for your most valuable PC assets: data and time.
"We're very proud of what we've accomplished for PC users with GoBack, and we're excited that the benefits of our product will now be shared around the world via Adaptec's OEM and channel relationships," said Eric Schneider, president of Wild File, Inc. "With Take Two and ReZOOM, GoBack will be joining a winning team with a unified mission - to protect the desktop data that drives the business world."
Adaptec will account for this acquisition under the purchase method of accounting. Adaptec will evaluate the allocation of the purchase price to the assets acquired, which may include in-process technology that will be written off, and intangible assets and goodwill that will be amortized over the benefit period.
GoBack 2.1 is available now and has a manufacturer's suggested retail price of $69.95. Customers can order product via the web site at www.goback.com or through all the major distribution channels.
This press release contains forward-looking statements regarding the company's global PC data protection position and opportunities for product sales. These forward-looking statements are subject to risks and uncertainties and actual results could differ materially from these projections due to various factors including, but not limited to, the risks associated with closing significant acquisitions, new product introductions by competitors, rapidly changing PC data protection product preferences by customers, and general economic conditions. For a more detailed discussion of the factors that affect the company's operating results, interested parties should review the company's Annual Report on Form 10-K for the fiscal year ended March 31, 1999.
About Roxio
Roxio, a division of Sonic Solutions, develops and markets the best-selling digital media software in the world. Roxio offers
award-winning software products for CD/DVD burning, photo editing and video editing and has an installed base of over 150 million
users. Roxio distributes its products globally through strategic partnerships with major hardware manufacturers, through leading
retailers, through Internet partnerships and through direct sales at www.roxio.com. Roxio's
parent company, Sonic Solutions (NASDAQ: SNIC;
http://www.sonic.com) is the leader in digital media software and provides a broad range of software
tools and applications for creative professionals, business and home users and technology partners. Sonic's products range from professional
DVD authoring systems and interactive content delivery technologies that are used to produce the majority of Hollywood movies released on DVD,
to the award-winning Roxio- and Sonic-branded CD and DVD creation, playback and backup applications that have become the premiere solutions
for consumers and business users worldwide. Sonic's AuthorScript® is the de facto standard for CD and DVD burning and formatting and has
been licensed by major software and hardware manufacturers, including Adobe, Broadcom, Microsoft, Scientific-Atlanta, Sony, and many others.
Sonic Solutions is headquartered in Marin County, California.
Sonic, the Sonic logo, Sonic Solutions, Roxio, MyDVD, CineMagic, Plug & Burn, LiveShare, Roxio Easy Media Creator, and
AuthorScript are trademarks or registered trademarks of Sonic Solutions or its subsidiaries in the United States and/or other
countries. Dolby is a trademark of Dolby Laboratories. All other company or product names are trademarks of their respective
owners and, in some cases, are used by Sonic Solutions under license. Specifications, pricing and delivery schedules are subject
to change without notice.