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Agfa Comments on the Acquisition of ScenicSoft by Creo

Press release from the issuing company

August 29, 2002 -- (WhatTheyThink.com) -- Agfa has commented on the planned acquisition of ScenicSoft by Creo. ScenicSoft has OEM agreements with many companies who compete with Creo, including Agfa. This has created interest from printers who use ScenicSoft’s products in conjunction with Agfa’s Apogee workflow solution. ScenicSoft is the category leader in layout and imposition solutions with around 20,000 seats of Preps, its imposition software, installed around the world. Agfa is one of ScenicSoft’s largest distribution channels. Creo has stated that current agreements between ScenicSoft and dealers, distributors, resellers, or strategic partners will remain in force with Creo. Susan Wittner, Director of Marketing for Agfa Graphic Systems said that ScenicSoft has been, for many years, a strong partner for Agfa. “Apogee and Preps are working seamlessly together to the benefit of many users, thanks to an open and good relationship with the ScenicSoft people. We are committed to open systems and standards. Creo and ScenicSoft management have expressed their continued interest in our partnership and we expect Creo to be committed to offer and support ScenicSoft products as open solutions. We will continue to work with them and most importantly, we will continue to keep our customers informed.” In terms of ApogeeX, Agfa has been moving to make it more open. Ms. Wittner continues, “Because the openness of systems has always been very important to us, with the announcement of ApogeeX earlier this year, we will offer customers even more flexibility and choice for imposition by unbundling Preps. This same openness applies for other market segments like packaging, where ApogeeX will work seamlessly with ScenicSoft Pandora and other open solutions." Creo plans to acquire ScenicSoft for approximately US$9.5 million in a combination of cash, equity and an assumption of liabilities. The acquisition is expected to close within 90 days. ----- These and many more issues are examined in a special Four Part Series for Premium Access members located at www.whattheythink.com. The series is called “Creo's Acquisition of ScenicSoft: Below the Surface.” In Part One, Contributing Columnist Andy Tribute offers his take on Creo’s acquisition. Mr. Tribute discusses the history of ScenicSoft, product synergy for Creo and the potential effects on ScenicSoft’s customers and OEM partners. Part Two provides opinions from several printers around the world who have suggestions and comments about this acquisition. These printers are using ScenicSoft’s products in a variety of workflow environments. In Part Three, WhatTheyThink.com staff writers explore many of the financial and business strategies involved. This will include analysis about the acquisition price and comments from ScenicSoft’s OEM partners and competitors. Friday’s Part Four will be a special article by Robert FitzPatrick about Creo’s dealings with the industry’s distribution channel. Part Four also includes a response from Creo to this article. For more information, visit www.whattheythink.com.