Houseplans, Inc. Acquires Abbisoft House Plans, Inc.
October 05 2004 - 8:00AM
PR Newswire (US)
Houseplans, Inc. Acquires Abbisoft House Plans, Inc. Acquisition
Adds www.homeplanfinder.com to Network of Websites NOVATO, Calif.,
Oct. 5 /PRNewswire-FirstCall/ -- Houseplans, Inc.
("Houseplans.com"), 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 Abbisoft House Plans,
Inc. ("Abbisoft") the operator of the well known
http://www.homeplanfinder.com/ website for a combination of cash,
notes and common stock of IMSI in addition to the assumption of
certain liabilities. The acquisition will make Houseplans.com the
number #1 provider of quality stock house plans on-line with more
than 20,000 plans available to customers. Abbisoft has operated its
stock house plans business for more than ten years and has become
one of the leaders in the fast growing market. In addition to more
than 6,400 plans available to customers, Abbisoft also has an
impressive array of content and tools to help home owners and
builders economically build their dream houses. Abbisoft is
currently cash flow positive and is expected to be accretive to
IMSI's consolidated earnings in the fiscal year ending June 30,
2005. "We are very excited about joining forces with the Abbisoft
team," stated Marvin Mauer, CEO of Houseplans, Inc. "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 Abbisoft team has aggregated an impressive number
of plans, home building content and tools which will improve the
quality of our total offering." "This is another significant
milestone for our Houseplans, Inc. subsidiary, said Gordon Landies,
President of IMSI. "This acquisition provides Houseplans with 40%
more content and a leading website for the sale of house plans to
contractors and builders. We expect our overall traffic to increase
substantially, and the acquisition adds 110,000 subscribers to the
http://www.houseplans.com/ mailing list." "Houseplans.com is one of
the leaders in the stock house plans industry, and we expect to
accelerate our growth by expanding our product offerings and
customer base," stated Ken Katuin, President of Abbisoft. "I look
forward to joining the Houseplans.com team as Vice President of
Strategic Development and will continue to grow and strengthen our
combined content and services." 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/ and http://www.houseplanguys.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: Houseplans, Inc.
CONTACT: Gordon Landies, +1-415-878-4000, or , or investors, Bill
Bush, +1-415-878-4039, or , both of International Microcomputer
Software, Inc. Web site: http://www.homeplanfinder.com/ Web site:
http://www.imsisoft.com/ Web site: http://www.houseplans.com/
Copyright