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Serif (Europe) Ltd Nottingham, UK 11 April 2001 PRESS RELEASE  SERIF BACK UNDER BRITISH OWNERSHIP Best-Selling DTP and Graphics Software Range Set For Expansion Serif (Europe) Ltd - today announced that it has successfully completed a management buyout of its US and European development, marketing, sales and fulfillment operations and is set to expand its award-winning range with three new product releases this year. Under the terms of a $1,137,500 deal with Vizacom Inc., the Serif software business is now back under British ownership and ready to meet the continued consumer appetite for print and publishing software and the surge of interest in digital image editing and Web publishing. "This is excellent news for employees and customers alike", said Gary Bates, Serif's Director of Marketing and Communications. "We're proud of the great reputation that Serif has earned as a market leader in desktop publishing and graphics software. This deal will allow us to concentrate on developing more advanced software products and to introduce Serif's winning formula of professional features, ease-of-use and value-for-money to an even wider audience." "With all the changes that have happened in our industry, it's very pleasing to be part of a British team that is managing to buck industry trends and successfully compete head-to-head with mighty US-dominated competitors", said Jim Bryce, one of the company's founders and now its Director of Strategic Development and Operations. "We are very close to our customers and have the development expertise to respond to their feedback and deliver the features they want in our future product releases." "Our new Website ( www.serif.com) further underlines Serif's customer-friendly approach" said Pete Beedham, Director of Internet Strategy and US Operations. "It is central to our future strategy that we continue to provide the best possible service and support to our customers and we are very pleased by the positive response that we have already had from visitors to our new site." Additionally, as part of the deal, Serif has licensed the software products published by Software Publishing Corporation, including its famous Harvard Graphics presentation software and will be responsible for managing SPC's Harvard Graphics Website (www.harvardgraphics.com). "This transaction represents the culmination of the restructuring strategy that Vizacom announced in January 2001 to divest its software and international operations to focus on its comprehensive professional Internet and technology solutions for the US market", said Vincent DiSpigno, president of Vizacom. "We wish Serif well for the future." "We're delighted that the restructuring plans of our old parent company provided us with the opportunity to purchase the software operations and wish our old colleagues at Vizacom every success as we at Serif look forward to an exciting future as an independent software company", said David Southgate, Director of Finance and Administration. Serif was assisted in the management buyout by Gateley Wareing solicitors and BDO Stoy Hayward chartered accountants. End About Serif Serif is the publisher of the award-winning software range that includes PagePlus, DrawPlus, WebPlus, 3DPlus and PhotoPlus. Founded in 1987 with the aim to develop low-cost alternatives to high-end publishing and graphics packages, Serif has repeatedly been praised for its powerful yet easy-to-use software which has put professional effects and demanding publishing tasks within the reach of ordinary PC users around the world. Serif has 130 employees at its head office, development and European sales centre in Nottingham, UK and operates its Internet development and North American sales operation from Nashua, US. For further information please contact Gary Bates, Serif (Europe) Ltd. Tel 0115 914 2000 or e-mail pr@serif.com Sales and Business Development Opportunities Serif products are available direct from Serif or from all main software retailers. For information on distributing or reselling Serif software or Harvard Graphics, please check out www.serif.com/contactus |
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