Applix, Inc., a global provider of customer analytics and
business planning software, announced today that Parallax Capital
Partners, LLC (Parallax), of Irvine, California, has agreed to
purchase substantially all of the assets of VistaSource, Inc.,
Applix's wholly-owned subsidiary, for an undisclosed amount of
cash. Parallax Capital Partners intends to retain all of the
VistaSource employees and will continue the VistaSource business.
The transaction is expected to close by March 31, 2001. Upon
completion of the transaction, Applix will retain a minority equity
position in Parallax's new subsidiary.
Alan Goldsworthy, president and CEO of Applix said, "We believe
that VistaSource's technology and the market opportunity for
real-time data gateways and thin client office productivity
applications has excellent potential. For nearly twenty years
Applix has been known for developing great technologies. Through
this divestiture we can focus on our primary strategy of providing
a world class customer analytics and business planning software
solution." He went on to say, "We are pleased to have completed a
transaction with a strategic buyer who will commit the necessary
resources to maximize the value of VistaSource's technology,
customers, partners and employees."
"VistaSource is a great strategic fit with our portfolio of
companies," said James Hale, Managing Partner, Parallax Capital
Partners. "We believe that there are many opportunities for
VistaSource to exploit in the Unix/Linux environment for real-time
data gateways, thin client platforms and wireless applications. We
are excited to build upon VistaSource's competencies in developing
and marketing leading technology solutions that are customizable,
Web-enabled and real-time capable. We will continue to offer the
highest level of consulting, education and support services to our
existing and to our future clients."