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ACD Systems Acquires Deneba Systems

Merger is called 'Marriage of two strong companies'

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ACD Systems of Victoria, British Columbia has announced they will acquire the privately-held Deneba Systems software company for $5.5 million in cash and ACD stock.

Based in Miami, FL, Deneba is best known as the developer of Canvas, a cross-platform precision illustration program that integrates Sprite technology, photo editing, page layout, presentation, and Web graphics capabilities. Deneba's Internet Graphics Server? (DIGS?) allows everyone to open and modify Canvas files, with no plugs-ins or downloads necessary.

ACD Systems develops and markets a range of digital imaging software, including its flagship product, ACDSee for viewing, sharing and organizing photos. ACD claims to have millions of consumer users and over 33,000 corporate customers, including many Fortune 500 companies.

“This is a marriage of two strong companies with similar philosophies and commitment to high quality engineering,” says Mike Zelen, president and CEO of ACD Systems. “Our respective flagship products are extremely complementary, particularly with Deneba's core user group. Moreover, the fact that Deneba has engineered Canvas to fit within ACD's sales and distribution channel will take the combined companies into new and exciting territories.”

Deneba's existing management will continue in executive roles in the combined companies. (ACD Systems International Inc.: www.acdsystems.com; Deneba Systems, Inc.: www.deneba.com)

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