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PERFTEC.TXT
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1992-04-20
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FOR IMMEDIATE RELEASE
Contact
Joe Waldygo, Director of Marketing and PR
Voice: 602/690-3215
FAX: 602/293-8065
or
Bob Fitzpatrick, Investor Relations
Voice: 602/690-3558
FAX: 602/293-8065
MCI Mail: FITZP
ARTISOFT INC. ANNOUNCES LETTER OF INTENT
WITH PERFORMANCE TECHNOLOGY, INC. FOR
ACQUISITION AND MERGER
(TUCSON, AZ -- April 20, 1992) -- Artisoft, Inc., the
Tucson-based developer and manufacturer of the award-
winning LANtastic Local Area Network, today announced
that it has signed a letter of intent with Performance
Technology, Inc. to acquire Performance Technology in
a statutory merger. Performance Technology will be
maintained as a wholly owned subsidiary of Artisoft.
Under the terms of the letter of intent, the
shareholders and stock option holders of Performance
Technology will receive 300,000 shares of Artisoft
common stock in exchange for their interest in
Performance Technology.
Performance Technology, a San Antonio, Texas,
privately held company, is the developer and
manufacturer of such award-winning networking products
as POWERfusion, linking PCs to UNIX processors,
POWERsave, an archival system for networks, and
POWERLan(R), which provides PC networking compliant
with IBM(R) and Microsoft(R) networking products, as
well as X/Open and OSF/DCE SMB recommendations.
Performance Technology's POWERbridge is used worldwide
to provide wide area networking for NetBIOS LANs such
as the Microsoft LAN Manager and IBM LAN Server as
well as POWERLan and LANtastic(R) networks.
Artisoft develops and manufactures a full line of
hardware and software for local area networks
including the LANtastic Local Area Network. The
LANtastic network is recognized as the leading DOS-
based peer-to-peer network and has won over 20 major
industry awards for its cost-effective features,
performance, and ease of use. It allows up to 300
users of IBM-compatible computers to connect and share
information and peripheral devices such as printers,
hard drives and CD-ROMs.
Performance Technology's POWERfusion DOS to UNIX
connectivity received PC Magazine's Editors' Choice
award in 1991 and the Best of LAN Times 1992 award.
POWERLan and LANtastic are co-winners of the PC
Magazine Editors' Choice award for both 1991 and 1992.
POWERLan also received the BYTE Magazine Award of
Distinction for 1991. POWERsave received LAN Times'
Recommended for Networking Award in 1991.
The consummation of the transaction is subject to
approval by the Board of Directors of Artisoft as well
as the Board of Directors and shareholders of
Performance Technology, and other conditions.
For more information about Artisoft or its product
line, contact Artisoft, Inc. at 691 E. River Road,
Tucson, AZ 85704. Sales 800/TINY RAM.
Fax 602/293-8065.
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