WebSideStory to Replace Marketing Executive
ActivIdentity and BT Join Forces to Deliver Market-Leading Strong Authentication~ Strategic Global Relationship Will Offer Identity Assurance Solutions to BT customers ~
LONDON, April 12 /PRNewswire-FirstCall/ -- ActivIdentity has signed an agreement with BT, one of the world's leading providers of communications solutions and services, to further enable BT to provide its customers with a means of introducing a secure and effective remote working policy. This follows the successful deployment of an ActivIdentity two-factor authentication solution within BT itself for its own employees.
(Logo: http://www.newscom.com/cgi-bin/prnh/20051108/SFTU161LOGO )
ActivIdentity software will be available to customers to verify the identities of their remote workers before allowing them access to confidential data and applications, ensuring security and accountability. In line with its strategic roadmap, BT will work with ActivIdentity to expand its portfolio of authentication solutions.
ActivIdentity technology is based on open standards, and this will be an advantage to BT's customers: "We help our customers to build complex, customised solutions, often involving components from different vendors. The use of open standards technology is vital in this context, allowing us to future-proof the solutions to cope with new challenges and security threats that affect our customers' business," Rakesh Mahajan, global director of mobility, BT.
BT has road-tested the ActivIdentity authentication solution to facilitate remote access to its own network. Over the past three years, BT has issued ActivIdentity tokens to over 70,000 employees as part of its own "BT Workstyle" flexible working policy. The technology allows them to securely access the company network wherever they are located, bringing multiple benefits.
"Our own experience and research amongst Fortune 2000 companies indicates that the benefits of flexible working are not limited to cost reduction," added Mahajan. "Other tangible benefits come from the ability to allow employees to be more productive, take advantage of improved communications and the means to respond to customer enquiries more quickly. The adoption of a wide-scale flexible working policy by BT has shown a marked increase in staff motivation and retention of key staff as a result of an improved work-life balance."
Marc Hudavert, vice-president and general manager at ActivIdentity Europe, commented: "As employers allow more flexible and diverse work environments and the corporate infrastructure becomes truly mobile, the need for positive identification of staff in diverse environments has become very challenging. Employers want to be able to offer their employees an adaptable working policy and take advantage of cost efficiencies, without jeopardising security.
"Our technology combined with BT's integrated services will help enterprises to realise the benefits of flexible working, without putting confidential data at risk," Hudavert added.
NOTES TO EDITORS
About BT
BT is one of the world's leading providers of communications solutions and services operating in 170 countries. Its principal activities include networked IT services, local, national and international telecommunications services, and higher-value broadband and internet products and services. BT consists principally of four lines of business: BT Global Services, Openreach, BT Retail and BT Wholesale.
In the year ended 31 March 2006, BT Group's revenue was 19,514 million pounds Sterling with profit before taxation of 2,040 million pounds.
British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on stock exchanges in London and New York.
For more information, visit http://www.bt.com/aboutbt .
About ActivIdentity
ActivIdentity(R) Corporation is the trusted provider of identity assurance solutions for the enterprise, government, healthcare, and financial services markets worldwide. The company provides the only fully-integrated platform enabling organizations to issue, manage and use identity devices and credentials for secure access, secure communications, legally binding digital transactions, as well as intelligent citizen services.
ActivIdentity customers experience multiple benefits including increased network security, protection against identity theft and online fraud, enhanced workforce productivity, business process efficiencies, and regulatory compliance.
ActivIdentity solutions include Smart Employee ID, Enterprise Single Sign On, Strong Authentication, Secure Information and Transactions, and Smart Citizen ID.
More than 15 million users and 4,000 customers worldwide rely on solutions from ActivIdentity. Headquartered in Fremont, Calif., the company has development centers in the United States, Australia, France, and sales and service centers in more than ten countries. For more information, visit http://www.actividentity.com/ .
NOTE: ActivIdentity and ActivCard are registered trademarks in the United States and/or other countries. All other trademarks are the property of their respective owners in the United States and/or other countries.
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PRN Photo Desk, photodesk@prnewswire.com
ActivIdentity Corporation
CONTACT: Dan Bowsher, Angela Woodward or Jo Skeels-Piggins of Berkeley
PR, +44 (0)118 988 2992, actividentity@berkeleypr.co.uk, for ActivIdentity
Web site: http://www.actividentity.com/
Atmel Issues Statement Regarding George Perlegos's ClaimsIs Confident Court Will Find that Perlegos's Latest Lawsuit Is Without Merit
SAN JOSE, Calif., April 11 /PRNewswire-FirstCall/ -- Atmel(R) Corporation today issued the following statement in response to the Answer and Counterclaim filed by George Perlegos, Atmel's former Chairman and CEO who was terminated for cause, in the United States District Court, Northern District of California:
"We believe George Perlegos's statements and counterclaim are without merit and nothing more than an attempt to confuse a clear record and deflect attention from the real issues - the fact that George Perlegos is seeking to regain control of the Company after being fired for cause for misusing corporate funds for personal gain. We stand by the definitive proxy statement that we began mailing today."
As separately announced today, Atmel is mailing the following letter, together with the definitive proxy materials, to Atmel stockholders urging them to vote AGAINST the Perlegos proposal by returning the WHITE proxy card.
April 11, 2007
Dear Atmel Stockholder:
In August 2006, George Perlegos, Atmel's former Chairman and CEO, and Gust Perlegos, a former Executive Vice President, were terminated for cause by a special independent committee of Atmel's Board of Directors following an eight-month investigation into the misuse of corporate travel funds for personal gain. These abuses included, among other things, using over $235,000 worth of company airplane tickets for personal travel by themselves and their immediate families.
Within hours of being fired for cause as President and CEO, George Perlegos, utilizing his then position as Chairman, requested a special stockholder meeting for the sole purpose of removing those directors who terminated him. George Perlegos, along with his brother Gust, also turned to the courts in an attempt to regain their executive positions and immediately filed suit against your company in Delaware. In February, the Court of Chancery rejected the Perlegoses' attempt to be reinstated. The Court said "the record refutes any contention of [George and Gust Perlegos] that they are innocent of material wrongdoing" and that "the Perlegoses have not demonstrated any right to hold any office of Atmel."
Having failed in the courts to reverse his dismissal for cause, George Perlegos is seeking to regain control of Atmel at a special meeting of stockholders to be held on May 18, 2007. Mr. Perlegos wants to remove the five members of your Board who fired him for cause (including all of our independent directors) and to replace them with his five hand-picked nominees. If he succeeds, George Perlegos has offered to take the position of "interim CEO" of the Company. George Perlegos and his brother Gust were fired for cause for misusing your money for personal gain. Don't let George Perlegos gain control of Atmel again.
Your Board of Directors unanimously recommends that stockholders vote AGAINST the Perlegos proposal and not sign or return any proxy card sent to you by George Perlegos. Please support your Board by signing, dating and returning the enclosed WHITE proxy card today, or by using the instructions on the WHITE proxy card to submit a proxy by telephone or Internet.
PERLEGOS'S LEGACY
George Perlegos controlled Atmel for more than 20 years, and the legacy that he left the Company when he was terminated for cause on August 5, 2006 includes:
-- Ethical Failures. The abuses of corporate funds that led to the
termination for cause of four senior executives, including George and
Gust Perlegos, highlight the failure of former senior management to
comply with high ethical standards and to set the proper "tone at the
top" that is critical to the Company's culture. Atmel's Board and new
management team are committed to high ethical standards, and the
Board's decision to terminate for cause those senior executives,
including the Perlegoses, demonstrates the Board's commitment to
restore the right "tone at the top," proper ethics, and zero tolerance
for compliance failures.
-- Financial Losses and Inaction. Atmel suffered net losses in each of
the last five full years under George Perlegos's "leadership" - losses
that exceeded $1.2 billion in the aggregate. Despite this extended
period of poor financial performance, George Perlegos failed to
initiate the actions that he has recently proposed.
-- Suspended Financial Reporting. Less than two weeks before George and
Gust Perlegos were terminated for cause, Atmel announced it was unable
to file its quarterly report on Form 10-Q because Atmel had initiated
an independent investigation regarding the timing of stock option
grants made during George Perlegos's tenure as Chairman and CEO.
-- Failure to Execute Authorized Share Repurchase. In 2002, Atmel's Board
authorized a buyback of up to 100 million shares, but the Company,
under Perlegos's watch, repurchased only 4.4 million shares at an
average price of $1.93 - a fraction of today's share value. Given his
failure to execute this share repurchase, ask yourself whether George
Perlegos has the credibility to execute the massive new share
repurchase he is now proposing.
We believe electing the Perlegos slate would send the wrong message to our employees, customers, suppliers and other constituents, and signal a return to George Perlegos's legacy of ethical failures and financial losses.
THE ATMEL BOARD IS COMMITTED TO UNLOCKING STOCKHOLDER VALUE
In sharp contrast to Perlegos's long period of inaction, Atmel's Board and new management team took prompt actions following George Perlegos's termination for cause to capitalize on the Company's strengths and put Atmel on track to profitability and enhanced stockholder returns. These actions, announced in December 2006, include:
-- Focusing on Atmel's high-growth, high-margin proprietary product lines.
To better align Atmel's resources with its highest-growth
opportunities, the Company is redeploying resources to accelerate the
design and development of leading-edge products that target expanding
markets and is halting development on lesser, unprofitable, non-core
products.
-- Optimizing Atmel's manufacturing operations. Atmel is seeking to sell
its wafer fabrication facilities in North Tyneside, United Kingdom and
Heilbronn, Germany. These actions are expected to increase
manufacturing efficiencies by better utilizing remaining wafer
fabrication facilities while reducing future capital expenditure
requirements.
-- Adopting a fab-lite strategy. Through better utilization of its
remaining wafer fabs and the substantial expansion of its external
foundry relationships, Atmel will significantly reduce manufacturing
costs and continue to design and develop innovative new products
utilizing world-class manufacturing facilities.
-- Reducing our workforce by approximately 16% through a combination of
voluntary resignations, attrition and other actions, and upon
completion of the sales of the North Tyneside and Heilbronn facilities.
Through these initial actions, estimated to save between $70 million to $80 million this year alone (and between $80 million to $95 million annually beginning in 2008), we are refocusing the Company on its core microcontroller products and technical strengths and reinvigorating profitable growth. We are just beginning. Our goal is to transform Atmel, and we will continue to identify and pursue additional opportunities to enhance stockholder value.
YOUR VOTE IS IMPORTANT. PROTECT THE VALUE OF YOUR INVESTMENT BY VOTING
AGAINST THE PERLEGOS PROPOSAL
The future of your investment in Atmel is at stake. We believe George Perlegos's stated intention to replace virtually the entire Board, including all of its independent directors and Atmel's President and CEO, is irresponsible, self-serving and threatens the future value of your investment in Atmel. We urge you to act today to protect your investment - vote AGAINST Perlegos's proposal by signing, dating and returning the WHITE proxy card, or by using the instructions on the WHITE proxy card to submit your proxy by telephone or Internet.
On behalf of your Board of Directors, thank you for your continued support,
/s/ Steven Laub
Steven Laub
President and Chief Executive Officer
Stockholders who need assistance in submitting their proxy or voting their shares should contact the Company's proxy solicitor, Innisfree M&A Incorporated, 501 Madison Avenue, 20th Floor, New York, NY 10022, 1-877-456- 3488 (toll free) or 212-750-5833 (collect).
Information About George Perlegos
As announced in August 2006, George and Gust Perlegos and two other Atmel senior executives were terminated for cause by a special independent committee of Atmel's Board of Directors following an eight-month investigation into the misuse of corporate travel funds.
In February 2007, the Court of Chancery of the State of Delaware rejected the Perlegoses' claims that they were improperly terminated for cause, stating "the record refutes any contention of the [Perlegoses] that they are innocent of material wrongdoing" and that "the Perlegoses have not demonstrated any right to hold any office of Atmel."
On March 23, 2007, Atmel filed a lawsuit in the United States District Court, Northern District of California, against George and Gust Perlegos asserting that the Perlegoses are using false and misleading proxy materials in violation of Section 14(a) of the federal securities laws to wage their proxy campaign to replace Atmel's CEO and all of Atmel's independent directors with the Perlegoses' director nominees at a special meeting of stockholders on May 18, 2007. Further, Atmel asserts that the Perlegos group, in violation of federal securities laws, has failed to file a Schedule 13D as required, leaving stockholders without the information about the Perlegoses and their plans that is necessary for stockholders to make an informed assessment of the Perlegoses' proposal.
About Atmel
Atmel is a worldwide leader in the design and manufacture of microcontrollers, advanced logic, mixed-signal, nonvolatile memory and radio frequency (RF) components. Leveraging one of the industry's broadest intellectual property (IP) technology portfolios, Atmel is able to provide the electronics industry with complete system solutions. Focused on consumer, industrial, security, communications, computing and automotive markets, Atmel ICs can be found Everywhere You Are(R).
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, including statements about Atmel's restructuring and other initiatives, including the anticipated benefits and cost savings of such initiatives, and statements regarding Atmel's future prospects. All forward- looking statements included in this release are based upon information available to Atmel as of the date of this release, which may change, and we assume no obligation to update any such forward-looking statement. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include the final conclusions of the Audit Committee (and the timing of such conclusions) concerning matters relating to stock option grants, the impact of competitive products and pricing, timely design acceptance by our customers, timely introduction of new technologies, ability to ramp new products into volume, industry wide shifts in supply and demand for semiconductor products, industry and/or Company overcapacity, effective and cost efficient utilization of manufacturing capacity, financial stability in foreign markets, the ability to recognize the benefits of our restructuring and other initiatives, and other risks detailed from time to time in Atmel's SEC reports and filings, including our Form 10-K, filed on March 16, 2006 and subsequent Form 10-Q reports.
Additional Information
Atmel has filed a definitive proxy statement with the Securities and Exchange Commission. Its stockholders are urged to read the definitive proxy statement because it contains important information. Stockholders may obtain, free of charge, copies of the definitive proxy statement and other documents filed by Atmel with the Securities and Exchange Commission at the Securities and Exchange Commission's website, http://www.sec.gov/. In addition, documents filed with the Securities and Exchange Commission by Atmel will be available free of charge from Atmel. Atmel and its directors and executive officers and certain other of its employees may be soliciting proxies from stockholders of Atmel against the proposed removal of Atmel's directors.
Information concerning the participants is set forth in the definitive proxy statement filed with the Securities and Exchange Commission.
Investor Contact Media Contact
Robert Pursel Jennifer Schaefer / Mike Cuneo
Director of Investor Relations Joele Frank, Wilkinson Brimmer
408-487-2677 Katcher
212-355-4449
Atmel Corporation
CONTACT: Investor Contact, Robert Pursel, Director of Investor
Relations, +1-408-487-2677, or Media Contact, Jennifer Schaefer or Mike Cuneo,
both of Joele Frank, Wilkinson Brimmer Katcher, +1-212-355-4449, for Atmel
AltiGen Communications to Host Teleconference to Discuss Fiscal 2007 Second Quarter Results
FREMONT, Calif., April 11 /PRNewswire-FirstCall/ -- AltiGen Communications will host a teleconference to announce its fiscal 2007 second quarter results.
When: Wednesday, April 25, 2007
2:00 PM Pacific Time (5:00 PM Eastern Time)
Who: Gilbert Hu, Chairman and Chief Executive Officer, Phil McDermott,
Chief Financial Officer and Jeremiah Fleming, President and Chief
Operating Officer
What: AltiGen Communications, Inc. will host a
teleconference to announce fiscal 2007 second quarter results.
How: Dial (800) 909-5202 (domestic) or (785) 830-7975 (international)
to listen in to the call. The conference call ID is "AltiGen". A
live Webcast will also be made available at http://www.altigen.com/. A
replay will be available approximately one hour after the call
and last for seven days. To access the replay, dial
(402) 220-7238. A Web archive will be made available at
http://www.altigen.com/ for 90 days following the call's conclusion.
AltiGen Communications, Inc.
CONTACT: Phil McDermott of AltiGen Communications, Inc.,
+1-510-252-9712; or investors, Brendan Lahiff of Financial Dynamics,
+1-415-439-4504, for AltiGen Communications, Inc.
Web site: http://www.altigen.com/
Overstock.com Scheduled to Report First Quarter 2007 Financial Results on April 25, 2007
SALT LAKE CITY, April 11 /PRNewswire-FirstCall/ -- Overstock.com, Inc. today announced that it is scheduled to release first quarter 2007 financial results (for the period ending March 31, 2007) before the market opens on Wednesday, April 25, 2007. An accompanying conference call and webcast is scheduled for 11:00 a.m. Eastern Time the same day.
Webcast information
To access the live webcast and presentation slides, please go to http://investors.overstock.com/. To listen to the conference call via telephone, dial (800) 659-1966 and enter passcode 65831682 when prompted. Participants outside the United States who do not have Internet access should dial +1 (617) 614-2711 and enter passcode 65831682 when prompted.
Replay
A replay of the webcast will be available at http://investors.overstock.com/ starting 90 minutes after the live call has ended. An audio replay of the webcast will be available via telephone starting at 1:00 p.m. Eastern Time on Wednesday, April 25, through midnight Eastern Time on Wednesday May 2, 2007. To listen to the recorded webcast by phone, please dial (888) 286-8010 and enter passcode 42317996 when prompted. Outside the U.S. please dial +1 (617) 801-6888 and enter passcode 42317996 when prompted.
About Overstock.com
Overstock.com, Inc. is an online "closeout" retailer offering discount, brand-name merchandise for sale over the Internet. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory liquidation distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com/.
Overstock.com is a registered trademark of Overstock.com, Inc.
Overstock.com, Inc.
CONTACT: media, Jared Matkin, +1-801-947-3880, or jmatkin@overstock.com,
or investors, Kevin Moon, +1-801-947-3282, or kmoon@overstock.com, both of
Overstock.com, Inc.
Web site: http://investors.overstock.com/
http://www.overstock.com/
WebSideStory to Replace Marketing Executive
SAN DIEGO, April 11 /PRNewswire-FirstCall/ -- WebSideStory, Inc. , a leading provider of real-time customer intelligence solutions, today announced that Pelin Wood, SVP of marketing, has resigned to pursue other opportunities. Jim MacIntyre, CEO, commented, "I am sad to see her leave as she has been an energetic contributor to the company's success for many years. Pelin has generously offered to act as an advisor during the upcoming months to help ensure a swift and smooth transition."
Mr. MacIntyre continued, "Our marketing team has a broad depth of experience and includes Bob Chatham, previously chief marketing officer for Visual Sciences and formerly with Forrester Research. Our team has a strong marketing strategy for 2007 and will continue to execute on these initiatives."
About WebSideStory, Inc.
Founded in 1996, WebSideStory, Inc. is a leading provider of real-time customer intelligence solutions. The services provided by WebSideStory and Visual Sciences deliver comprehensive insight into the lifetime of customer interactions across on-line and multi-channel businesses. More than 1,500 enterprises worldwide rely on the company for innovative solutions, enterprise-class services and a world-class network of partners to improve marketing, sales and operational performance. WebSideStory is headquartered in San Diego, California, and has European headquarters in Amsterdam, The Netherlands. For more information, contact WebSideStory. Voice: 858.546.0040. Fax: 858.546.0480. Address: 10182 Telesis Court, 6th Floor, San Diego, CA 92121. Web site: http://www.websidestory.com/. WebSideStory is a registered trademark of WebSideStory, Inc. Visual Sciences is a registered trademark of Visual Sciences, LLC, which is a wholly owned subsidiary of WebSideStory, Inc.
Forward-Looking Statements
Statements in this press release that are not a description of historical facts are forward-looking statements. You should not regard any forward-looking statement as a representation by WebSideStory that any of its plans will be achieved. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in WebSideStory's business, including, without limitation: WebSideStory's reliance on its web analytics services for the majority of its revenue; blocking or erasing of cookies or limitations on our ability to use cookies; WebSideStory's limited experience with customer intelligence applications beyond web analytics; the risks associated with integrating the operations and products of Avivo Corporation and Visual Sciences, LLC with those of WebSideStory; privacy concerns and laws or other domestic or foreign regulations that may subject WebSideStory to litigation or limit our ability to collect and use Internet user information; WebSideStory's ability to defend itself against claims of patent infringement alleged by NetRatings, Inc.; WebSideStory's ongoing ability to protect its own intellectual property rights and to avoid violating the intellectual property rights of third parties; the highly competitive markets in which we operate that could make it difficult for WebSideStory to acquire and retain customers; the risk that WebSideStory's customers fail to renew their agreements; the risks associated with the company's indebtedness, including the risk of non-compliance with the covenants in our credit facility; the risk that WebSideStory's services may become obsolete in a market with rapidly changing technology and industry standards; and other risks described in WebSideStory's Securities and Exchange Commission filings, including WebSideStory's annual report on Form 10-K for the year ended December 31, 2006 and quarterly reports on Form 10-Q. Do not place undue reliance on these forward-looking statements which speak only as of the date of this news release. All forward-looking statements are qualified in their entirety by this cautionary statement, and WebSideStory undertakes no obligation to revise or update this news release to reflect events or circumstances after the date of this news release.
WebSideStory, Inc.
CONTACT: Claire Long, CFO of WebSideStory, Inc., +1-858-754-2787,
claire.long@websidestory.com
Web site: http://www.websidestory.com/
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