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Legato Systems Schweiz GmbH

Legato Systems closes acquisition of OTG Software

Mountain View, CA / Bar ots (ots)

Expanded Offering Set Addresses Customers' Needs for Seamless
Information Access and Application Availability
Legato Systems, Inc.
("Legato") (Nasdaq:LGTO), a worldwide leader in enterprise storage
management software today announced that the proposed acquisition of
OTG Software, the Rockville, Maryland-based provider of data storage,
data access and email management solutions, has closed after being
formally approved by their respective shareholders.
The merger agreement provides that each share of OTG common stock
will be converted into the right to receive 0.6876 of a share of
Legato common stock and $2.50 per share in cash. After the merger,
Legato will have approximately 115 million outstanding shares of
common stock. OTG's shareholders will, after the merger, own
approximately 21% of Legato's common stock
"Today's shareholder approval allows us to accelerate our current
ability to provide our customers with the most scalable and secure
management and applications solutions available for the management of
the information lifecycle," said David B. Wright, chairman, president
and chief executive officer of Legato.  "The acquisition of OTG gives
us additional software assets and intellectual capital in content,
email and storage management required to address the growing demand
among our customers for open, integrated solutions from one source. 
Today's announcement represents further expansion of our core
strategy, which is to provide our customers solid information
protection, the ability to capture, access, manage and maintain an
application environment and the ability to automate recovery on an
application-specific basis."
JPMorgan H&Q, a division of J.P. Morgan Securities Inc., served as
financial advisor to Legato.  Goldman, Sachs & Co. served as
financial advisor to OTG.
About Legato
Legato Systems, Inc. (NASDAQ:LGTO) delivers worldwide enterprise
class software solutions and services that keep the world's
business-critical information and applications available. With a
direct sales force and through strategic partnerships and alliances,
Legato delivers the advantage of business continuance through
enterprise automation with information protection, application
availability and storage management solutions. The company's
corporate headquarters are located at 2350 West El Camino Real,
Mountain View, CA 94040. Tel: (650) 210-7000, fax: (650) 210-7032,
Web site: www.legato.com. Keeping the World's Business-Critical
Information Available.
Legato and the Legato logo are registered trademarks, and Legato
NetWorker, Celestra, GEMS, SmartMedia, Co-StandbyServer, RepliStor,
SnapShotServer, QuikStartz, SAN Academy, and AlphaStor are trademarks
or registered trademarks of Legato Systems, Inc. This is a
non-exhaustive list of Legato trademarks, and other trademarks may be
the property of their respective owners.
Information regarding products, services and offerings may be
superseded by subsequent documents. For the latest information and
specifications regarding Legato Systems, Inc. and any of its
offerings or services, please contact your local sales office or the
Corporate Headquarters.
This press release contains forward-looking statements about the
proposed merger, plans for the combined businesses, competitive
positions and customers' purchases. These forward-looking statements
involve a number of risks and uncertainties that could cause Legato's
or OTG's actual results to differ materially. Factors that might
cause such a difference include, but are not limited to, the ability
to close larger contracts in the current challenging IT spending
environment, the ability to leverage relationships with channel
partners and strategic alliances, the ability to continue to develop
and update products for which there is market demand, customers'
acceptance of contract terms, unexpected fluctuations in quarterly
operating results, product concentration, competition from other
companies and rapid technological change. In addition, acquisitions
involve a number of risks, including among others, diversion of
management attention from selling and product development efforts,
losses of key personnel, unexpected transaction costs, the failure to
integrate corporate culture and the challenges of managing a
geographically distant business. For a more detailed discussion of
these factors, and other factors that could cause actual results to
vary materially, interested parties should review the "Risk Factors"
listed in each of Legato's and OTG's Form 10-K for fiscal 2001 and
the Forms 10-Q for fiscal 2001 and Legato's registration statement on
Form S-4, which are on file with the U.S. Securities and Exchange
Commission. The forward-looking statements in this press release
reflect beliefs and predictions as of May 14, 2002. Each of Legato
and OTG disclaims any obligation to update these forward-looking
statements as a result of financial, business or any other
developments occurring after May 14, 2002.
For more information and press-releases: www.legato.com

Contact:

SE IMPULS!
Carlo Ferrari
Dorfplatz 5
6045 Meggen
Tel. +41/41/378'00'25
Fax +41/41/378'00'26
mailto:carlo.ferrari@seimpuls.ch

Legato Systems GmbH
Fredy Lustenberger
Blegistrasse 3
6340 Baar
Tel. +41/41/769'65'75
Fax +41/41/769'65'66
mailto:flustenberger@legato.com

Plus de actualités: Legato Systems Schweiz GmbH
Plus de actualités: Legato Systems Schweiz GmbH
  • 21.02.2002 – 13:24

    LEGATO SYSTEMS TO ACQUIRE OTG SOFTWARE

    Acquisition Addresses Customers' Needs for Seamless Information Access and Application Availability Extended Ability to Leverage Expertise and Expand Channels Mountain View, CA and Rockville, MD (ots) - Legato Systems, Inc. ("Legato") (Nasdaq: LGTO), a worldwide leader in enterprise storage management software, and OTG Software ("OTG") (Nasdaq:OTGS), a leading provider of data storage, data access and email ...