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Moldflow Signs Non-Binding Letter of Intent to Acquire Branden Technologies

Products and Technologies Augment Existing Shop Floor Suite

WAYLAND, Mass. - January 10, 2001 - Moldflow Corporation (Nasdaq:MFLO), the world leader in process-wide solutions for optimizing the design and manufacture of plastic products, announced today that it signed a non-binding letter of intent to acquire Branden Technologies, Inc.

The proposed purchase price of $3.5 million includes the repayment of outstanding debt and the acquisition of all of the outstanding shares of stock.

Branden Technologies, headquartered in Wilsonville, Oregon, is a leading developer of software and hardware systems for real-time process and production monitoring in the plastics and die casting industries.

"We are excited about the opportunity to work with a company having the range of products that Branden offers to the plastics and die cast markets. The combination of these products with Moldflow's existing offerings will allow us to provide these industries with a comprehensive set of process and production monitoring solutions for the shop floor," said Marc Dulude, president and CEO of Moldflow Corporation. "We also look forward to establishing a West Coast base of operations, which we believe will allow us to more effectively address the needs of our customers and employees."

"We look forward to joining Moldflow's world-class organization," said Ken Panck, president and CEO of Branden Technologies. "Moldflow's broad distribution capabilities will allow us to sell our products more rapidly, on a global scale, and to a wider range of customers."

The Company also announced today the expiration of the non-binding letter of intent to acquire certain assets of XBOX Technologies, Inc. relating to its FullMetrics plastics business. Following due diligence, the Company determined that product integration would be impractical.

About Moldflow Corporation

Moldflow (Nasdaq:MFLO) is the world leader in plastic simulation software used by designers and manufacturers to produce optimal plastic parts. The automotive, aerospace, computer, consumer goods, and medical industries have incorporated Moldflow's easy to use, predictive applications throughout all phases of the injection molded plastic part design to manufacture processes to reduce product costs, accelerate time-to-market and optimize plastic part production. The company has employees worldwide and maintains its corporate headquarters in Wayland, MA. The company also has research and development facilities in Australia, Europe and Ithaca, NY and direct sales and marketing offices throughout the US, Europe and the Pacific Rim. 

http://www.moldflow.com

http://www.plasticszone.com 

 

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