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Houseplans, Inc. Signs Definitive Agreement to Acquire Weinmaster
Homes, Ltd.
Acquisition Adds www.globalhouseplans.com to Network of Websites
NOVATO, Calif., June 29 /PRNewswire-FirstCall/ -- Houseplans, Inc.
("Houseplans"), a wholly-owned subsidiary of International Microcomputer
Software, Inc. ("IMSI") (OTC:IMSI) (BULLETIN BOARD: IMSI) and a leading
supplier of ready-to-build house plans on-line, announced today the acquisition
of Weinmaster Homes, Ltd. ("WHL"), operator of the #2 Google ranked
http://www.globalhouseplans.com/ website, for $4.0 million in cash, notes and
common stock of IMSI in addition to the assumption of certain liabilities. The
acquisition will make Houseplans.com the #1 provider of high quality stock
house plans on-line with more than 24,000 plans available to customers. WHL,
one of the leading marketer's of stock house plans in Canada, has operated its
plans business in the United States and Canada for more than twenty-five years
and is one of the leading innovators in this fast growing market. In addition
to more than 14,800 plans available to customers, which includes over 500
proprietary Weinmaster plans, WHL also has an impressive array of content and
tools to help homeowners and their builders economically build their dream
homes. WHL is currently cash flow positive and is expected to be accretive to
IMSI's consolidated earnings in the fiscal year ending June 30, 2006. The
transaction, which is subject to customary closing conditions, is expected to
close on July 1, 2005.
"We are very excited about joining forces with the WHL team," stated Marvin
Mauer, President of Houseplans. "We share a common vision for the on-line
stock house plans market. It is our common belief that we need to offer the
widest array of content and services in order to ensure that our customers are
able to make the best possible choices for their most significant investment,
their dream home. The WHL team has aggregated an impressive number of plans,
home building content and tools which will greatly enhance our total offering."
"This is another significant milestone for our Houseplans, Inc. subsidiary,
said Gordon Landies, President of IMSI. "This acquisition provides Houseplans
with substantially more content and the #2 website for the sale of house plans
to contractors and consumers. The acquisition is part of our ongoing strategy
to grow substantially in this market space. We will continue to source and
complete similar transactions to grow our business."
"Houseplans is one of the leaders in the stock house plans industry and our
team is excited to join with them," stated Bruce Weinmaster, President of WHL.
"I look forward to helping transition the substantial assets which we have
created to the Houseplans.com team with the expectation that the combined
entity will lead the industry in content, selection and service and accelerate
our growth in the U.S. and the growing Canadian market."
About Houseplans, Inc.
Houseplans, Inc. (http://www.houseplans.com/), a wholly owned subsidiary of
IMSI (R), is focused on expanding its network of web properties to serve the
rapidly growing market for the sale of stock house plans on-line and related
home building services. The company's mission is to help customers find and
acquire the perfect plan for their dream home by offering the largest selection
of quality house plans and providing an experience that exceeds all customer
expectations. More information about Houseplans can be found at
http://www.houseplans.com/, http://www.houseplanguys.com/ and
http://www.homeplanfinder.com/.
About IMSI
Founded in 1982, IMSI has established a tradition of providing the professional
and home user with innovative technology and easy-to-use, high-quality software
products at affordable prices. The company maintains two business divisions.
The Precision Design division, anchored by IMSI's flagship product, TurboCAD(R)
and the DesignCAD(TM) line, also develops and markets other visual content and
design software such as FloorPlan(R) 3D. The division also includes several
online properties focused on the sale of content and services to the
architectural, engineering and construction market thru its stock house plans
site at Houseplans.com, its CAD add-on store, Cadalog.com and the online CAD
symbol site, CADsymbols.com. The Consumer & Business Software Solutions
division, anchored by our wholly owned subsidiary Allume Systems (formerly
Aladdin Systems) which provides small businesses and consumers with software
solutions through its popular products such as StuffIt(R), Internet Cleanup(R),
SpamCatcher(R), TurboProject(R), FormTool(R), FlowCharts&More(TM), HiJaak(R)
and TurboTyping(TM). More information about IMSI can be found at
http://www.imsisoft.com/ and http://www.allume.com/.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934, and within the meaning of the Private Securities
Litigation Reform Act of 1995. Actual results could differ materially from
those projected in the forward-looking statements as a result of various
factors including the ability of the company to successfully commercialize its
new technologies as well as risk factors set forth under "Factors Affecting
Future Operating Results" in the company's annual report on Form 10-KSB for the
year ended June 30, 2004, and such other risks detailed from time to time in
the company's reports filed with the Securities and Exchange Commission. The
company undertakes no obligation to publicly release the result of any
revisions to these forward-looking statements, which may be made to reflect
events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
DATASOURCE: International Microcomputer Software, Inc.
CONTACT: Gordon Landies of International Microcomputer Software, Inc.,
+1-415-878-4000, or , or investors, Bill Bush of
International Microcomputer Software, Inc., +1-415-878-4039, or
Web site: http://www.imsisoft.com/