Lotus Development Corp. Will Acquire Software Arts Inc.

CAMBRIDGE, Mass., April 9, 1985 -- PRNewswire -- Daniel Bricklin, chairman, and Robert Frankston, president, of Software Arts Inc. of Wellesley, Mass., co-authors of VisiCalc, software which revolutionized the computer industry, announced today they have signed letters of intent to join Lotus Development Corp. of Cambridge, Mass.

In addition, the letter of intent calls for Lotus to aquire the assets of Software Arts, including its products VisiCalc, TK!Solver, and Spotlight. Terms of the agreement have not been announced.

"VisiCalc, Spotlight and TK!Solver will be important additions to Lotus," said Lotus President Jim Manzi. "Spotlight is one of the best desktop accessory programs on the market today and TK!Solver's powerful problem-solving capabilities are particularly attractive to the engineering and scientific communities."

"This is an historic moment for the software industry," said Lotus chairman Mitchell Kapor. "Today, the fathers of the microsoftware industry join the leading company in the industry. This step is further evidence of the constructive consolidation within the industry, and underscores Lotus' determination to develop a wide range of products for the consumer."

Lotus will make Spotlight and TK!Solver available through it's regular authorized dealer channels along with its own products -- 1-2-3, Symphony, and Jazz (which will ship to dealers on May 27).

TK!Solver will be the first product marketed through Lotus' newly created Engineering and Scientific Product Division, headed by Sandra Gunn, a vice president.

"This is a major step forward for the software development industry," said Bricklin. "This consolidation of mind power and resources clearly signals that software development is just beginning -- the industry's great days lie ahead."

"It's a perfect marriage," said Frankston. "Lotus marketing, sales and service scale will provide significant new support for our products. And, our creative collaboration with the Lotus product development groups will ge good for all of us."

Final terms of the agreement are being worked out between a team from Lotus headed by Manzi and Software Arts senior management. While final terms are negotiated, Software Arts will continue to market and support its products. Daniel S. Bricklin Profile:

Bricklin, with Frankston, created VisiCalc (R), TK!Solver (TM) and Spotlight (TM). Currently Bricklin is chairman of Software Arts Inc., a company he founded in 1979 with Frankston.

Bricklin has been developing software applications since the mid 1960s. He held the positions of market researcher for Prime Computer Inc., senior systems programmer for Fasfax Corp. and senior software engineer for the Digital Equipment Corp.

Bricklin graduated from the Massachusetts Institute of Technology in 1973 with a bachelor of science degree in electrical engineering and computer science. He received an M.B.A. degree from the Harvard Business School in 1979. Robert M. Frankston Profile:

Frankston, with Bricklin, created VisiCalc (R), TK!Solver (TM) and Spotlight (TM). Currently Frankston is the president of Software Arts Inc., a company he founded in 1979 with Bricklin.

Before forming his own company, Software Arts Inc., in 1979, Frankston spent 13 years at Interactive Data Corp. where he helped develop and implement on-line computer services.

Frankston graduated from the Massachusetts Institute of Technology in 1970 with bachelor of science degrees in mathematics and in electrical engineering and computer science. In 1974, Frankston received a masters degree in engineering and computer science from the Massachusetts Institute of Technology.

/CONTACT: Diane Asay of Lotus Development Corp., 617-494-1270/

Copyright PR Newswire 1985 wire