Unify Completes Acquisition of AXS-One

* Reuters is not responsible for the content in this press release.

Tue Jun 30, 2009 4:02pm EDT

ROSEVILLE, Calif.--(Business Wire)--
Unify Corp. (NASDAQ:UNFY), a global provider of application development, data
management and migration solutions, today announced the completion of its
acquisition of AXS-One, a leading provider of integrated content archiving
software solutions. 

The all-stock transaction, which stockholders of both Unify and AXS-One approved
earlier today, is valued at approximately $10 million. AXS-One will become a
wholly-owned subsidiary of Unify and is expected to create a more competitive,
cost efficient company with a larger customer base, increased maintenance
revenues and significant growth potential. 

Under the terms of the merger agreement, all AXS-One outstanding common stock,
options and warrants to purchase AXS-One common stock were converted into 1
million shares of Unify common stock; and the convertible notes of AXS-One in
the aggregate principal amount of approximately $13.1 million were exchanged for
approximately 2.1 million shares of Unify common stock. 

About Unify

Unify (NASDAQ:UNFY) is a global provider of application development, data
management, migration and content archiving solutions. Unify`s software and
services modernize and maximize the development, deployment and performance of
business-critical applications and data, while providing a measurable return on
investment. AXS-One's award-winning technology has been critically acclaimed as
best of class and delivers digital archiving, business process management,
electronic document delivery and integrated records disposition and discovery
for e-mail, instant messaging, images, SAP and other corporate records. Unify is
headquartered in Roseville, Calif., with offices in Rutherford, NJ., London,
Munich, Calgary, Paris, and Sydney. Visit www.unify.com or email info@unify.com.


Some of the information in this press release may contain projections or other
forward-looking statements regarding future events or the future financial
performance of the Company. We wish to caution you that these statements involve
risks and uncertainties and actual events or results may differ materially.
Among the important factors which could cause actual results to differ
materially from those in the forward-looking statements are general market
conditions, unfavorable economic conditions, our ability to execute our business
strategy, the effectiveness of our sales team and approach, our ability to
target, analyze and forecast the revenue to be derived from a client and the
costs associated with providing services to that client, the date during the
course of a fiscal year that a new client is acquired, the length of the
integration cycle for new clients and the timing of revenues and costs
associated therewith, our client concentration given that the Company is
currently dependent on a few large client relationships, potential competition
in the marketplace, the ability to retain and attract employees, market
acceptance of our service programs and pricing options, our ability to maintain
our existing technology platform and to deploy new technology, our ability to
sign new clients and control expenses, the possibility of the discontinuation of
some client relationships, the financial condition of our clients' business and
other factors detailed in the Company's filings with the Securities and Exchange
Commission, including our recent filings on Forms 10-K and 10-Q.

Unify and AXS-One are trademarks of Unify Corp. All other company and product
names are trademarks or registered trademarks of their respective companies. 



Unify Corp.
Deb Thornton, 916-218-4779
deb@unify.com
or
MKR Group, Inc.
Todd Kehrli, 323-468-2300 (Investors)
unfy@mkr-group.com
or
AXS-One
Marie-Charlotte Patterson, 201-372-6243
mpatterson@axsone.com

Copyright Business Wire 2009

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.