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BW: StarBase Signs Definitive Agreement to Acquire Premia Corporation

“StarBase Corporation (Nasdaq: SBAS), a leading provider of
eCollaboration solutions for the development and management of
eBusiness applications, today announced it has signed a definitive
agreement to acquire Premia Corporation of Beaverton, Ore. The
all-stock transaction for approximately 1.9 million shares of
StarBase common stock is worth an estimated $24.7 million. The
transaction is expected to close within one week. Premia, which has
been profitable since 1992, is a privately held corporation with
extensive experience, technology and products that integrate
naturally into StarBase’s family of eBusiness life cycle management
solutions for the enterprise.”

“Premia’s award-winning software products will further
strengthen StarBase’s digital asset management solutions. StarBase
technology currently enables collaboration between all team
members, from project leaders to programmers, and from graphic
designers to content writers. CodeWright is Premia’s leading
product and is one of the most widely used development environments
in the market today. Developers use CodeWright for projects written
in multiple languages, which is increasingly common in Internet
development. For example, a team of developers could use CodeWright
to develop C/C++, Java, HTML and XML parts of an eBusiness
application. With the combined technologies, teams of developers
can collaborate, create, share and manage digital assets in the
production of e-commerce and web applications. The transparent
intelligence engine in Premia’s technology will enable current and
future customers to achieve a higher level of collaboration and
understanding of digital assets in the StarBase repository.”

“Doug Root, director of sales and marketing at Premia, said ‘As
our customers develop more and more applications for the Internet,
they are faced with ever more complex projects. The increasing
number of contributors, the diversity of skills and the frequent
changes to web applications, often several per day, have resulted
in an acute need for a flexible way to quickly manage changes to
and track all of the diverse project components. Our customers,
40% of which are project leaders and managers, will be able to
achieve significant benefits from StarBase’s StarTeam solution,
especially so with the recently announced expansion of StarTeam
from Windows to the Linux and Solaris operating platforms.

Premia and StarBase together will provide our customers with a
best-of-breed solution for the creation and management of their
critical eBusiness applications.’ “


Press Release