ots Ad hoc-Service: PC-WARE Info. Technolo. PC-Ware signs agreement on takeover of European subsidiaries of Programmer's Paradise Inc

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    Leipzig (ots Ad hoc-Service) -    PC-Ware signs agreement on takeover of European subsidiaries of Programmer's Paradise Inc. - Accelerated expansion of international presence - PC-Ware to become a leading European software company

    PC-Ware Information Technologies AG, Leipzig has signed the agreement to take over the European network of branches and subsidiaries of the USA-based software specialist Programmer's Paradise Inc. The closing is subject to several conditions, including approval by stockholders of Programmer's Paradise at a meeting scheduled to take place on Thursday, December 21st in New York, N.Y. The closing of the sale will take place as soon as practicable after December 21, 2000. The purchase price of EUR 14.5 million is to be paid in cash.

    The acquired companies generated annual sales of US$ 160 million in 1999. This means that the expanding PC-Ware group will more than double its total sales.

    This strategic takeover substantially expands PC-Ware's presence in all key European markets as well as the group's European distribution channels. It also means that the company has accomplished the goal announced at the time of its IPO, namely internationalization, within a very short time. The companies to be acquired - including Logic Soft in the Netherlands, ISP*D in Germany, plus local companies in France, Britain, Italy and Austria - provide software management and software licensing services to customers across Europe. Also contributing experienced salesforces to the growing European PC-Ware Group, they represent an ideal fit with PC-Ware's portfolio.

    The takeover of the European operations of Programmer's Paradise will make PC-Ware a leading European software company, considerably boosting its customer base which currently comprises more than 13,000 contractual accounts. From a sectoral point of view, the takeover adds such important customer groups as banks, insurers and leading manufacturers to the existing customer base. The availability of the new distribution channels means that PC-Ware's SoftwareSupport services and proprietary software products such as the "PC-WARE in4meta" Internet site management system as well as the company's electronic licensing technology can be offered on a Europe-wide basis going forward.

    For further information contact: Dr. Knut Loeschke CEO of PC-Ware at 341 2568 000 William H. Willett, CEO of Programmer's Paradise Inc. at 732-3898950

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