|Wednesday, June 3, 1998||< Prev||Next >|
CHICAGO, June 3 /PRNewswire/ — At the AEC SYSTEMS '98 show in Chicago today, Visio Corp. (Nasdaq: VSIO) announced it has completed the acquisition of the CAD technology of Ketiv Technologies Inc., a privately held provider of architecture, engineering and construction (AEC) software based in Portland, Ore. Under the terms of the agreement, Visio has acquired Ketiv's software products, including the award-winning ArchT architectural design application for Autodesk AutoCAD and IntelliCAD® 98 by Visio™, for an undisclosed amount of cash. Visio will account for the acquisition as a purchase. Excluding a one-time charge in the quarter ending June 1998, it is not expected that the acquisition will be dilutive to earnings.
As a result of this acquisition, Ketiv Technologies Inc. will split into two separate business entities: the ArchT software development team and the Ketiv product sales and support organization. The ArchT software development team will join Visio Corp. as employees; Ketiv's product sales and support organization will operate as an independent company that will continue to be known as Ketiv Technologies Inc. Ketiv Technologies will continue to service existing and new ArchT customers with sales, training, support, customization and utility development, and will continue to operate as an authorized AutoCAD dealership. Ketiv Technologies Inc. will serve as Visio's sole distributor for ArchT.
ArchT is Ketiv's architectural software package for AutoCAD and IntelliCAD. An add-on product, ArchT provides AEC-specific functionality, such as 2-D production drafting utilities, styles-based design features, and customizable records and reports, to the underlying CAD package. It also provides dynamic block and layer control and 3-D design and visualization tools, and includes over 7,000 2-D and 3-D AEC-related block symbols designed to increase the productivity of architects and designers.
Visio anticipates that ArchT, a winner of the 1997 Editor's Choice Award from CADENCE magazine and AEC Product of the Year from CADALYST Magazine, will continue to be offered as a standalone product to the AEC marketplace through Authorized Ketiv Dealers, Ketiv Premier Consultants, and directly from Ketiv Technologies under the ArchT label. Further, beginning with ArchT's next major release (14.5), Visio will develop ArchT for the AutoCAD and IntelliCAD engines simultaneously, providing a consistent user interface and functionality set for architects and designers, regardless of CAD platform.
"AEC is a very important market for Visio," said John Forbes, vice president of technical products at Visio. "Our acquisition of the Ketiv product line will ensure that AEC users continue to have the option of standardizing on a state-of-the-art AEC design solution that is available for more than just one CAD platform. Visio's purchase of ArchT means AEC users will be able to deploy both AutoCAD and IntelliCAD seats with the confidence that a consistent, powerful AEC design environment will continue to be available for both CAD engines. In addition, Visio plans to use Ketiv's technology to create the first open, Windows-based AEC development platform to which all third-party developers will have access."
"Ketiv's customers have told us repeatedly that what they want in their AEC software is superior value and choice," said Bob Palioca, chairman and CEO of Ketiv Technologies. "With the backing of Visio's resources and technology, ArchT will be well-positioned to continue its evolution as the leading AEC technology tool for both AutoCAD and IntelliCAD users."
Visio Corp. is the leading supplier of enterprisewide business diagramming and technical drawing software, with an installed base of over 2 million users worldwide. Founded in September 1990, the Seattle-based company pioneered the drawing and diagramming software market with the release of Visio 1.0 in November 1992 and has since released additional Microsoft Windows-based graphics applications that offer users a unique and effective way to communicate and work. Visio's powerful product line is becoming a worldwide standard for graphical solutions in business, with the support of partner programs and third-party relationships in key market segments. Visio products are available in as many as 11 language versions and are sold in more than 40 countries.
For more information about Visio Corp. and its products, customers can contact Visio at 800-24-VISIO (248-4746), ext. 93W, or visit the company's Web site at http://www.visio.com/.
NOTE: Visio and IntelliCAD are either trademarks or registered trademarks of Visio Corp. in the United States and/or other countries. All other trademarks, trade names or company names referenced herein are used for identification only and are the property of their respective owners.
SOURCE Visio Corp.
/NOTE TO EDITORS: Visio's news releases and other relevant materials can be retrieved from Visio's virtual pressroom at http://www.visio.com/pressroom/. To be notified via e-mail of breaking Visio news, send e-mail to Visionews@wagged.com with your e-mail address in the body of the message./
/CONTACT: Rob Curran of Waggener Edstrom, 503-245-0905, or email@example.com, for Visio Corporation/
CO: Visio Corp.; Ketiv Technologies Inc. ST: Illinois, Washington, Oregon IN: CPR MLM SU: TNM
KP-EB — SFW023 — 8752 06/03/98 12:00 EDT http://www.prnewswire.com