From mboxrd@z Thu Jan 1 00:00:00 1970 X-Spam-Checker-Version: SpamAssassin 3.4.5-pre1 (2020-06-20) on ip-172-31-74-118.ec2.internal X-Spam-Level: * X-Spam-Status: No, score=1.8 required=3.0 tests=BAYES_50,LOTS_OF_MONEY, TO_NO_BRKTS_PCNT autolearn=no autolearn_force=no version=3.4.5-pre1 Date: 27 Nov 91 13:49:01 GMT From: milo!grebyn!daily!karl@uunet.uu.net (Karl A. Nyberg) Subject: Verdix to aquire Meridian, intent letter signed Message-ID: <1991Nov27.134901.22229@grebyn.com> List-Id: [Received this press release recently -- KAN] FOR IMMEDIATE RELEASE VERDIX CORPORATION ANNOUNCES PLANS TO ACQUIRE MERIDIAN SOFTWARE SYSTEMS CHANTILLY, VIRGINIA, November 22, 1991 VERDIX Corporation (NASDAQ Symbol: VRDX) announced that it has executed a non-binding letter of intent with Meridian Software Systems, Inc., that will result in its acquisition of Meridian in a pooling of interests merger. The merger would result in Meridian shareholders receiving approximately $6 million worth of newly issued VERDIX common stock, aggregating approximately 15% of the common shares outstanding at the completion of the transaction. The transaction is subject to shareholder approval of both companies, due diligence investigations and execution of a definitive merger agreement. According to VERDIX President and Chief Operating Officer Ralph E. Alexander, "Both companies have been successfully expanding their product lines into the broader Computer Aided Software Engineering (CASE) market. The acquisition of Meridian is attractive to VERDIX because it brings us a PC-based software product line and an opportunity to expand our market share." VERDIX Corporation, is headquartered in Chantilly, Virginia, with major development facilities in Aloha, Oregon. It specializes in products to meet government and industry needs in the embedded computer, technical CASE and secure product markets. In its fiscal year ended March 31, 1991, revenues were $13,308,435, with net income of $1,004,700. Meridian Software Systems, Inc., based in Irvine, California, developes and markets desktop-based software engineering tools and services, with a focus in Ada products. In its fiscal year ending March 31, 1991, revenues were $2,714,305 with net income of $109,222. For more information contact: Ralph E. Alexander, President, Verdix Corporation, (703) 378-7600, Stowe Boyd, President, Meridian Software Systems, Inc., (714) 727-0700 -- Karl A. Nyberg karl@grebyn.com Post Office Box 497 Grebyn Corporation Vienna, VA 22183-0497 USA +1-703-281-2194