LOS ANGELES, Jun 12, 2000 (BUSINESS WIRE) - Vertical Computer Systems Inc. VCSY, a leading multilingual portal provider, software developer and e-commerce solutions company, today announced that it has acquired Pointmail.com.
The sale was completed by the issuance of 1,000,000 shares of VCSY stock. The relocation of Pointmail's staff and equipment to VCSY's Los Angeles headquarters will be completed in five days.
Pointmail.com has proprietary, Web-based email software that will add new features to VCSY's Postmaster Internet service located at www.thepostmaster.net. ThePostmaster.Net is a Web-based email provider that is universally accessible by using a Web browser without the need to install software.
Another of Pointmail's software packages is FinanceCentral. FinanceCentral is an application system that provides investors and financial institutions with a variety of financial services directed toward sophisticated investment analysis. The system includes different modules which can be customized to each individual investor's requirements.
Richard S. Wade, president of Vertical Computer Systems, said: "This acquisition fits perfectly with our growth strategy and business model. Pointmail's email software will strengthen our email capabilities for our Postmaster Internet service and FinanceCentral will be an additional offering that we can make available through our international portals.
"We feel we can successfully integrate Pointmail's staff and equipment into our Los Angeles headquarters and are confident that we can accelerate our growth with this addition of highly skilled individuals and proprietary software," added Wade.
Vertical Computer Systems, Inc. is a multi-lingual portal provider, and e-commerce solutions company, based in the United States. The Company provides a full range of Internet services that include building e-commerce solutions nationally and internationally, distributing content via its multi- lingual portal network (http://www.TheChinaBridge.com); and Internet services (http://www.thepostmaster.net). The company is also a leading developer of proprietary software for the Internet, including the Emily(TM) (MLE) Framework, a programming language that enables the creation of Web sites that intercommunicate via XML and HTTP, and online gaming software (www.ccpsoftware.com). For more information, visit the company's Web site at www.vcsy.com.