Houseplans, Inc. Signs Definitive Agreement to Acquire Weinmaster Homes, Ltd.
29 Giugno 2005 - 3:01PM
PR Newswire (US)
Houseplans, Inc. Signs Definitive Agreement to Acquire Weinmaster
Homes, Ltd. Acquisition Adds www.globalhouseplans.com to Network of
Websites NOVATO, Calif., June 29 /PRNewswire-FirstCall/ --
Houseplans, Inc. ("Houseplans"), a wholly-owned subsidiary of
International Microcomputer Software, Inc. ("IMSI") (OTC:IMSI)
(BULLETIN BOARD: IMSI) and a leading supplier of ready-to-build
house plans on-line, announced today the acquisition of Weinmaster
Homes, Ltd. ("WHL"), operator of the #2 Google ranked
http://www.globalhouseplans.com/ website, for $4.0 million in cash,
notes and common stock of IMSI in addition to the assumption of
certain liabilities. The acquisition will make Houseplans.com the
#1 provider of high quality stock house plans on-line with more
than 24,000 plans available to customers. WHL, one of the leading
marketer's of stock house plans in Canada, has operated its plans
business in the United States and Canada for more than twenty-five
years and is one of the leading innovators in this fast growing
market. In addition to more than 14,800 plans available to
customers, which includes over 500 proprietary Weinmaster plans,
WHL also has an impressive array of content and tools to help
homeowners and their builders economically build their dream homes.
WHL is currently cash flow positive and is expected to be accretive
to IMSI's consolidated earnings in the fiscal year ending June 30,
2006. The transaction, which is subject to customary closing
conditions, is expected to close on July 1, 2005. "We are very
excited about joining forces with the WHL team," stated Marvin
Mauer, President of Houseplans. "We share a common vision for the
on-line stock house plans market. It is our common belief that we
need to offer the widest array of content and services in order to
ensure that our customers are able to make the best possible
choices for their most significant investment, their dream home.
The WHL team has aggregated an impressive number of plans, home
building content and tools which will greatly enhance our total
offering." "This is another significant milestone for our
Houseplans, Inc. subsidiary, said Gordon Landies, President of
IMSI. "This acquisition provides Houseplans with substantially more
content and the #2 website for the sale of house plans to
contractors and consumers. The acquisition is part of our ongoing
strategy to grow substantially in this market space. We will
continue to source and complete similar transactions to grow our
business." "Houseplans is one of the leaders in the stock house
plans industry and our team is excited to join with them," stated
Bruce Weinmaster, President of WHL. "I look forward to helping
transition the substantial assets which we have created to the
Houseplans.com team with the expectation that the combined entity
will lead the industry in content, selection and service and
accelerate our growth in the U.S. and the growing Canadian market."
About Houseplans, Inc. Houseplans, Inc.
(http://www.houseplans.com/), a wholly owned subsidiary of IMSI
(R), is focused on expanding its network of web properties to serve
the rapidly growing market for the sale of stock house plans
on-line and related home building services. The company's mission
is to help customers find and acquire the perfect plan for their
dream home by offering the largest selection of quality house plans
and providing an experience that exceeds all customer expectations.
More information about Houseplans can be found at
http://www.houseplans.com/, http://www.houseplanguys.com/ and
http://www.homeplanfinder.com/. About IMSI Founded in 1982, IMSI
has established a tradition of providing the professional and home
user with innovative technology and easy-to-use, high-quality
software products at affordable prices. The company maintains two
business divisions. The Precision Design division, anchored by
IMSI's flagship product, TurboCAD(R) and the DesignCAD(TM) line,
also develops and markets other visual content and design software
such as FloorPlan(R) 3D. The division also includes several online
properties focused on the sale of content and services to the
architectural, engineering and construction market thru its stock
house plans site at Houseplans.com, its CAD add-on store,
Cadalog.com and the online CAD symbol site, CADsymbols.com. The
Consumer & Business Software Solutions division, anchored by
our wholly owned subsidiary Allume Systems (formerly Aladdin
Systems) which provides small businesses and consumers with
software solutions through its popular products such as StuffIt(R),
Internet Cleanup(R), SpamCatcher(R), TurboProject(R), FormTool(R),
FlowCharts&More(TM), HiJaak(R) and TurboTyping(TM). More
information about IMSI can be found at http://www.imsisoft.com/ and
http://www.allume.com/. Safe Harbor Statement This announcement
contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934, and within the meaning of the Private
Securities Litigation Reform Act of 1995. Actual results could
differ materially from those projected in the forward-looking
statements as a result of various factors including the ability of
the company to successfully commercialize its new technologies as
well as risk factors set forth under "Factors Affecting Future
Operating Results" in the company's annual report on Form 10-KSB
for the year ended June 30, 2004, and such other risks detailed
from time to time in the company's reports filed with the
Securities and Exchange Commission. The company undertakes no
obligation to publicly release the result of any revisions to these
forward-looking statements, which may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. DATASOURCE: International Microcomputer
Software, Inc. CONTACT: Gordon Landies of International
Microcomputer Software, Inc., +1-415-878-4000, or , or investors,
Bill Bush of International Microcomputer Software, Inc.,
+1-415-878-4039, or Web site: http://www.imsisoft.com/
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