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Erica Mannion
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Double-Take® Software Acquires TimeSpring®Company Extends Customers' Recovery Options with "Any-Point-In-Time-Recovery" Capabilities Southborough, Mass. - December 26, 2007 - Double-Take® Software (NASDAQ: DBTK) today announced the acquisition of TimeSpring®, a continuous data protection software company. The acquisition bolsters Double-Take Software's protection and back-up capabilities for virtualized and physical server environments. Double-Take Software will integrate TimeSpring's unique abilities to create any-point-in-time application consistent recovery points into its suite of product offerings. "We feel TimeSpring offers the best point-in-time recovery capabilities in the market and we are thrilled that Double-Take Software has selected us to extend its protection and recovery portfolio," said Rick Carlson, CEO of TimeSpring. With this acquisition, Double-Take Software broadens its overall recovery strategy. Today business customers use Double-Take continuous data replication to instantly recover the most recent version of their data, applications and operating system. Adding TimeSpring to the Double-Take suite of products, the company extends its recovery approach beyond disaster recovery for catastrophic failures, to operational recovery, such as recovering from routine human errors. TimeSpring enhances Double-Take to perform granular, or item-level recoveries, from any point in time. The combination of Double-Take continuous replication with TimeSpring's Any-Point-In-Time capabilities allows IT administrators the ability to "rewind" and "fast-forward" the data on the server and recover to the moment before an unwanted change. The granularity of operational recovery extends to the application-level, which allows users to see application data in native format so they can easily recover from any point in time. The product's application awareness allows administrators to determine application consistency points which further enable their ability to achieve superior operational recovery. This combined technology also impacts how IT managers protect and recover specific applications as follows:
"In addition to acquiring TimeSpring's patented technology, Double-Take Software is excited to be adding the Montreal-based company's employees to its roster," said Dean Goodermote, CEO of Double-Take Software. "TimeSpring's engineering expertise, specifically in the area of file systems and application level recovery, fits extremely well into Double-Take Software's core capabilities as does its product design into our architecture. This strategic acquisition aligns well with Double-Take Software's existing and future products," Goodermote added. The transaction was structured as a purchase of 100% of the outstanding shares of TimeSpring, for a total cash purchase price of approximately $8.3M plus transaction costs, subject to certain customary post-closing adjustments. Conference call info
If you are unable to participate in the conference call, an audio replay of the call will be available approximately two hours after the conclusion of the call and remain available until Monday, December 31, 2008 at 11:59 p.m. ET. To access the audio replay, dial 888-203-1112 or 719-457-0820 and enter replay pass code number 9892404. A replay of the web cast will be available on the investor relations section at www.doubletake.com approximately two hours after the conclusion of the call and will remain available for 90 calendar days. For more information about TimeSpring, visit http://www.timespring.com About Double-Take® Software
This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases that say Double-Take or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements in this release that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All forward-looking statements are inherently speculative, and are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated in forward-looking statements. These risks and uncertainties include those set forth from time to time in our filings with the Securities and Exchange Commission. We are under no obligation, and do not undertake any duty, to update these forward looking statements statements at any time. © Double-Take Software. All rights reserved. Double-Take, GeoCluster, and NSI are registered trademarks of Double-Take Software, Inc. Balance, Double-Take for Virtual Systems and Double-Take ShadowCaster are trademarks of Double-Take Software, Inc. Microsoft, Windows, and the Windows logo are trademarks or registered trademarks of Microsoft Corporation in the United States and/or other countries. TimeSpring is a trademark of TimeSpring Software Corporation. All other trademarks are the property of their respective companies. |
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