Search
Shop Our Store Shop Our Store
MySoftware Products

Press Releases

June 2001

Media Contacts:
Amy Lydon, Elibrium Inc.
amyl@avanquestusa.com
(650) 212-9332

For Immediate Release
June 12, 2001

CLICKACTION ENTERS INTO DEFINITIVE AGREEMENT TO SELL ITS
ELIBRIUM DIVISION IN A MANAGEMENT BUY-OUT

PALO ALTO, Calif. (June 12, 2001) - ClickAction™ Inc. (NasdaqNM-CLAC) announced today that it has entered into a definitive agreement to sell the assets of its Elibrium division to a corporation owned and controlled by certain members of the management team of the Division, including Christina Willett, ClickAction's Senior Vice President of the Elibrium division, and Sharon Chiu, ClickAction's Chief Financial Officer, each of whom would resign from ClickAction upon the closing of the transaction. The Elibrium division develops, markets and manufactures small business applications..

The purchase agreement provides for a cash payment to ClickAction of a minimum of $4.5 million, of which $2.0 million is scheduled to be paid on closing, with the balance to be paid over the following nine months. The purchase agreement also provides for further payments to ClickAction should the new Company surpass mutually agreed to financial goals. A portion of the total consideration represents licensing fees for a private label version of ClickAction's email marketing services and use of ClickAction's opt-in email database. The closing of the transaction, which is subject to several closing conditions, is scheduled to occur prior to the end of June 2001.

Gregory Slayton, ClickAction's President and CEO, commented that "since the beginning of 1999, our strategic focus has been on our E-Marketing Automation (EMA) business - and that is where most of the revenue growth for the Company has come from over the past two years. With the imminent release of our ClickAction EMA Enterprise product, which has already been selected by BEA Systems for bundling with BEA's major server products, it is imperative for us to focus 100% on our core business. The sale of the Elibrium division will allow us to do just that, while reducing our burn rate and strengthening ClickAction's balance sheet."

ClickAction also announced today that it is commencing a search for a permanent replacement for Sharon Chiu, its current CFO. ClickAction will be scheduling a conference call for investors directly following the close of the transaction to discuss the financial implications of the spin-off and the forecast for the EMA business.

About ClickAction
ClickActionY is a leading provider of e-marketing automation products and services. ClickAction E-Marketing Automation (EMA) helps marketers design, deploy and manage personalized email campaigns that maximize the lifetime value of each customer. ClickAction EMA saves time, generates revenues and reduces costs by providing highly scalable outbound and inbound messaging, one-to-one publication, powerful rules-based segmentation, real-time tracking and detailed reporting, all integrated in a Web-based solution. 100% Java-based, ClickAction EMA is built for easy deployment and integration with industry-leading third party applications. ClickAction offers a hosted ASP solution, ClickAction EMA, as well as an in-house Enterprise solution, ClickAction EMA Enterprise for BEA. ClickAction products have a proven track record of success in a variety of industries including retail, catalog, brand and publishing.

In addition to ClickAction EMA, the company offers interactive, campaign, acquisition and rich media services. ClickAction is a member of TRUSTe, an independent, non-profit organization whose mission is to build users' trust and confidence in the Internet. For more information on ClickAction products and services, visit www.clickaction.com or call 1.800.473.3141.

Forward Looking Statements
To the extent that any of the statements contained herein relating to ClickAction are forward-looking, such statements are based on current expectations that involve a number of uncertainties and risks. Such uncertainties and risks include, but are not limited to, the ability of ClickAction and the buyer to satisfy the closing conditions set forth in the Elibrium asset purchase agreement referenced above. Accordingly, there can be no assurance that the proposed sale of the Elibrium division will occur in a timely manner, or at all.