Business Services Industry
Critical Path Acquires RemarQ; Latest Purchase Provides Internet Collaboration Services for Corporations, Web Portals and Over 850 ISPs
Business Wire, Jan 31, 2000
Business Editors/High-Tech Writers
SAN FRANCISCO--(BUSINESS WIRE)--Jan. 31, 2000
Critical Path Inc. (Nasdaq:CPTH), the dominant global provider of business-to-business Internet messaging and collaboration solutions, today announced it has signed a definitive acquisition agreement to acquire RemarQ Communities Inc., a San Jose-based provider of Internet collaboration services for corporations, Web portals and over 850 Internet service providers (ISPs).
&uot;Critical Path is committed to maintaining its leadership position and offering a full range of advanced Internet messaging solutions that satisfies the broad scope of email and messaging demands presented by customers,&uot; said Doug Hickey, CEO of Critical Path. &uot;Collaboration tools are essential in today's environment. RemarQ serves top-tier outsourcing customers, including Alta Vista, British Telecommunications, Cisco, Cincinnati Bell, Novell, Procter &Gamble and Siebel Systems. RemarQ's premier customer base and the proven scalability of its technology will help Critical Path bolster its position as the only provider of complete end-to-end Internet messaging solutions.&uot;
Founded in 1996, RemarQ has developed brandable message board services that complement Critical Path's corporate strategy of delivering an integrated suite of Internet messaging solutions to its customers. By uniting RemarQ's message board and collaboration technology with Critical Path's advanced Internet messaging solutions, Critical Path will offer customers one of the most robust integrated messaging platforms available today with increased functionality, flexibility and choice.
Message board services have evolved to become the cornerstone for group collaboration on the Internet and are now gaining a foothold in the corporate market. Threaded discussions are an ideal medium for knowledge exchange and team collaboration within the Internet, Extranet or Intranet environments and can be used for applications such as customer support, project team collaboration, partner/supplier communication, distribution of HR policies and procedures and sales force management. In addition to creating custom message boards, customers can benefit from access to UseNet and mailing lists.
&uot;We believe the marriage of Critical Path and RemarQ provides customers with the messaging and collaboration tools needed to make more informed decisions in rapidly changing markets,&uot; said Bill Lee, CEO at RemarQ. &uot;Together, we will bring the power of the Internet and discussion groups to the desktops of corporate employees around the world.&uot;
The RemarQ acquisition continues to demonstrate Critical Path's corporate strategy to build a global infrastructure and quickly bring to market the most comprehensive set of internet messaging and collaboration solutions available today.
About RemarQ Communities, Inc.
RemarQ Communities, Inc. is the world's leading provider of Internet collaboration services for corporations, Web portals and ISPs. Founded in 1996, RemarQ's discussion services are in use by over 900 customers, including key portals such as AltaVista and LookSmart. RemarQ builds custom discussion communities and provides access to existing communities such as Usenet and mailing lists.
The company has won more than 30 industry honors including PC Magazine's 1999 Top 100 Web sites, the Hot100 Award and Information Week's Site of the Week. Headquartered in San Jose, Calif., RemarQ has operations centers in North America and Europe.
About Critical Path, Inc.
Critical Path, Inc. (Nasdaq:CPTH) is the dominant global provider of complete end-to-end Internet messaging and collaboration solutions for corporations, Internet service providers (ISPs), Web hosting companies and Web portals.
Critical Path has built an industry-leading global infrastructure with data centers connected to key Internet exchange points and currently reaches more than 50 million end-users through its customer relationships. Critical Path provides reliable, secure, and scalable e-mail and a flexible suite of enhanced messaging services to partners such as E*TRADE, CompuServe, Network Solutions, US West, Sprint, France Telecom, British Telecommunications and ICQ.
Critical Path is headquartered in San Francisco, with offices in locations nationwide and in Germany, England, Ireland, France, Italy, Switzerland and Argentina. More information on Critical Path can be found at www.cp.net.
The statements in this press release relating to matters that are not historical are forward-looking statements. Actual results could differ materially from these forward-looking statements. Risks and uncertainties facing Critical Path are described in its prospectus dated June 1, 1999 and with its periodic filings with the Securities and Exchange Commission (www.sec.gov).
Note to Editors: Critical Path is a service mark and the Critical Path logo is a trademark of Critical Path, Inc. All other trademarks are the property of their respective holders.
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