|Wednesday, April 3, 1996||< Prev||Next >|
SEATTLE, April 3 /PRNewswire/ — Visio Corp. (Nasdaq: VSIO) today announced that it has acquired certain assets of Arcland Inc., a privately held developer of FlowModel, a Windows® flowcharting and process diagramming product, located in Malvern, PA.
Under the terms of the agreement, Visio acquired source code, contract rights, customer lists and leads, and other intellectual property with cash. In addition, three engineers from Arcland are joining Visio. Visio will account for the transaction as a purchase and the cost will be charged primarily to in-process R&D in the March 1996 quarter.
"This acquisition, the first for Visio, is a key component of our overall strategy to grow the business in part through strategic acquisition of companies and technologies," said Jeremy Jaech, president and CEO of Visio Corp. "The technology we have purchased will allow us to incorporate automatic layout and automatic line routing features into future products developed at Visio. The technology offers a natural complement to the existing features in our Visio product line."
Visio did not acquire Arcland's product, FlowModel, and has no plans to continue to support the product. Visio plans to offer existing Arcland customers the opportunity to upgrade to Visio 4.0 or Visio Technical 4.0.
Visio Corporation, a leading supplier of enterprisewide business diagramming and technical drawing software, was founded in September 1990. The Seattle-based company pioneered the drawing and diagramming market with the release of Visio 1.0 in November 1992. Since then, Visio has released additional Windows-based products for the creation, storage and exchange of drawings and diagrams throughout enterprises. The company markets the Visio product line in more than 26 countries throughout North America, South America, Europe and Asia.
NOTE: Additional information about Visio Corporation is available on the Internet at http://www.visio.com . Details about Visio Corp. are also available on CompuServe and MSN, The Microsoft Network.
Visio and SmartShapes are registered trademarks of Visio Corp.
Microsoft and MSN are either registered trademarks or trademarks of
Microsoft Corp. in the United States and/or other countries.
CompuServe is a registered trademark of CompuServe Inc.
/CONTACT: Leslie Deitz of Visio Corporation, 206-521-4546/
CO: Visio Corporation; Arcland, Inc. ST: Washington, Pennsylvania IN: CPR SU: TNM
JF — SEW001 — 5332 04/03/96 09:00 EST