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Press/Analysts Contact: Chris Carroll Carroll & Associates (508) 385-6050, or Carrollpr@aol.com |
Investor Relations Contact: Jeff Bingenheimer, CFO Segue Software, Inc. (617) 796-1000 |
Stock of Client/Server Software Quality Tool Vendor Now Traded on NASDAQ National Market
NEWTON CENTRE, MA, March 28, 1996 -- Segue Software, Inc. today announced the initial public offering of its stock on the NASDAQ National Market. The company was listed as SEGU and the stock was priced at $18.00 per share. Two million shares of common stock was issued by the company, with an additional 750,000 shares offered by selling shareholders. Segue Software intends to use the net proceeds of the offering for general corporate purposes, including working capital.
The stock offering was led by Alex. Brown & Sons, Inc., with Adams, Harkness & Hill, Inc., and Soundview Financial Group, Inc., also serving as underwriters. "We're proud to offer Segue's stock to the public markets," said Elisabeth Elterman, Segue's president and chief executive officer. "Organizations are increasingly relying on software testing tools to improve software quality, reduce development costs, and decrease the time to develop and deploy applications. We believe that Segue's QualityWorks family of software testing tools enables these organizations to successfully address the challenges of software development."
About Segue Software, Inc.
Segue Software (NASDAQ:SEGU) develops, markets, and supports the QualityWorks family of open architecture quality assurance software tools, methodology, and management. QualityWorks enables the rapid development and re-use of automated software tests across more than 20 platforms, and is currently used by more than 7,200 software quality professionals worldwide. Headquartered in Newton Centre, Massachusetts, Segue also has offices in San Francisco, Atlanta, Chicago, and Dallas, and distribution offices throughout Europe, Canada, and Australia. Segue's 90-plus employees provide automated testing products and consulting services to organizations developing client/server and Internet-based software applications. Segue Software offers corporate and product information through its World Wide Web site, located at http://www.segue.com.
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QualityWorks is a trademark of Segue Software, Inc.