Axway Inc. Merges with Tumbleweed Communications as Parent Company, Sopra Group, Completes Acquisition of Tumbleweed Shares

  
    
  
  
    
      Following Tumbleweed shareholder and regulatory approvals, 
      Sopra Group (Euronext Paris: SOP) and Tumbleweed Communications Corp. 
      (Nasdaq: TMWD) today completed a merger in which Sopra Group, via its 
      subsidiary Axway, acquired Tumbleweed. Tumbleweed’s 
      operations will be combined with those of Axway. Together, Axway and 
      Tumbleweed will offer integrated collaborative business solutions to 
      more than 11,000 customers globally.
    
    
      Pursuant to the merger agreement, each outstanding share of Tumbleweed 
      stock was converted into the right to receive $2.70 in cash. 
      Tumbleweed's common stock will cease to trade on the Nasdaq national 
      market at the close of business today and will be delisted.
    
    
      This merger is in line with Axway’s and 
      Tumbleweed’s global development strategy. The 
      complementary geographic positioning of the two companies creates an 
      experienced provider capable of serving the needs of the largest 
      multinational corporations in the B2B, SOA, security and collaborative 
      services domains.
    
    
      Sopra Group funded the transaction through its existing lines of credit.
    
    
      Given the complementary nature of Axway’s and 
      Tumbleweed’s businesses, Sopra Group expects 
      to recognize synergies through both revenue growth and cost savings. In 
      2009, the combined entity of Axway and Tumbleweed expects to generate 
      revenue of approximately €230 million with an 
      operating margin between 12-15%. Sopra Group expects this transaction to 
      be accretive.
    
    
      About Sopra Group
    
    
      One of the leaders in the European consulting and IT services market, 
      Sopra Group generated revenue of 1 billion euros in 2007 and has a human 
      and intellectual resource potential of over 11,000 people. Thanks to a 
      longstanding culture of excellence and strong sector-specific, 
      functional and technological know-how, the Group offers its clients an 
      end to end approach based on a well-honed business model. Sopra Group’s 
      ambition is to allow its clients to focus on transformation projects 
      that will give them a competitive edge and help them drive growth. Sopra 
      Group’s savoir-faire encompasses prior 
      strategic reflection through to the supervision and implementation of 
      major systems integration and application outsourcing projects. The 
      Group also pursues the worldwide deployment of its activities in both 
      application integration and business process management through its 
      subsidiary Axway, one of the leading providers of Collaborative Business 
      Solutions, with a complete range of solutions and services. For more 
      information, please go to our website www.sopragroup.com.
    
    
      About Axway
    
    
      Axway is one of the leading global providers of collaborative business 
      solutions. Axway establishes the dynamic connections – 
      within and among enterprises – that make 
      companies easier to do business with. Spanning all industries, over 8400 
      organizations in more than 100 countries depend on Axway to manage and 
      control their business-critical information in motion – 
      improving value chain efficiency, regulatory compliance and quality of 
      service. Built on a service-oriented architecture (SOA), Axway’s 
      Synchrony™ solutions feature a highly 
      flexible integration and B2B framework, business and technical 
      analytics, and professional services. Axway also offers customized 
      solutions for the financial services, life sciences and automotive 
      industries. Many of Axway’s solutions are 
      available in a software-as-a-service (SaaS) model. A subsidiary of Sopra 
      Group, SA, Axway is headquartered in Scottsdale, Arizona.
    
    
      About Tumbleweed
    
    
      Tumbleweed Communications Corp. 
      (NASDAQ:TMWD), an industry leader in managed file transfer, email 
      security and identity validation, provides enterprise-class solutions to 
      organizations of all sizes. Tumbleweed’s 
      innovative products enable organizations to effectively manage and 
      protect business-critical Internet communications, with capabilities 
      that span secure file transfer, encryption, data loss prevention, and 
      email security. Tumbleweed has more than 3,300 customers worldwide, 
      including blue-chip companies across an array of industries such as 
      technology, retail, finance, healthcare, manufacturing, consumer 
      packaged goods, telecom, energy, and the U.S. Government. The world’s 
      most security conscious organizations rely upon Tumbleweed technology 
      including Bank of America Securities, JP Morgan Chase & Co., the U.S. 
      Food and Drug Administration, and the U.S. Department of Defense. Our 
      award-winning products build on 15 years of R&D and 29 security 
      patents in the U.S. alone – many of which 
      are licensed by other security vendors. More information can be found at www.tumbleweed.com.