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PUMA blasted past its 52-week high on news of closing the Netmind merger.
Puma Technology Closes NetMind Technologies Merger
Key Acquisition Enables Puma To Deliver The First End-To-End Platform And Application Suite For Web-Enabled Devices

SAN JOSE, Calif.--(BUSINESS WIRE)--Feb. 25, 2000--Puma Technology, Inc. (NASDAQ: PUMA - news), the leading provider of the essential software infrastructure for the ubiquitous mobile Internet, announced that it has completed its acquisition of NetMind Technologies, Inc., a leading provider of Internet infrastructure software for personalization.

Under the terms of this agreement, Puma will exchange approximately five million shares of Puma common stock for all of NetMind's outstanding capital stock, warrants and options in Puma's third fiscal quarter ending April 30, 2000. The merger qualifies as a tax-free reorganization and the parties will account for the transaction as a pooling of interests.

The technologies merged in this acquisition give Puma the ability to lead the market by delivering the first comprehensive platform and application suite for all Web-enabled device users. NetMind(TM) technology's ability to deliver highly personalized and relevant Internet content, combined with Puma's widely adopted Intellisync® synchronization software and recently acquired ProxiNet(TM) transformation, delivery, and transaction technology for Web-based information, will offer an end-to-end value proposition for Internet users -- enabling them to track Web information of any nature anytime, anywhere, and on any device -- and to perform one-click transactions via these mobile devices.

Puma's powerful new capabilities are expected to redefine the mobile Internet communications model for both consumers and business professionals alike, since Forrester Research estimates that during 2000, 10 percent of all Web surfers will have the ability to connect a mobile device such as a PalmPilot or smartphone to the Web. By the end of 2001, that number is expected to reach 25 percent.

Acquisition Creates New Infrastructure For Wireless E-Business

The merger brings Puma a broad range of Web-based personalization services and patented personalization technology, furthering the company's goal to be the leading end-to-end infrastructure provider for mobile, wireless, and Internet device-based e-business. NetMind's technology includes a range of capabilities important to e-business organizations when establishing mobile personalization solutions, including mining, extraction, notification, delivery, targeting, and analytics.

More than six million active users and 45,000 Web sites are utilizing NetMind's Mind-it(TM) Web personalization technology to track Web-based information and to be notified when the information changes via email, Web page, pager, handheld device or cell phone. NetMind's flagship Minder Application Server(TM) product seamlessly integrates with any electronic commerce, publishing, CRM system or Web site and proactively alerts visitors or users to changes on these sites to encourage repeat visits. Among NetMind's blue-chip customers are eBay, ZDNet, IBM, Hitachi, Boeing, BancBoston and many other high-profile Internet and Fortune 500 companies.

New Solution Powers Instant E-Commerce

NetMind's user-driven personalization and alert software, combined with Puma's Web browsing and synchronization technology, will greatly enhance the ability of e-business firms to offer a complete personalization and e-commerce system that will support a full range of Internet-connected mobile devices, including cellular and wireless smartphones. In addition, companies that invest in NetMind personalization technology will be able to easily extend it to the mobile Internet with little or no re-engineering. NetMind currently offers a broad range of personalization solutions to meet a variety of user needs, including Personal eShopper, My Page, Gift Registry, Finance Minder, Product Minder, Job Minder, Price Minder, Promotion Minder, Seasonal Minder, Order Minder, Technical Support Minder and Enterprise Minder. The acquisition of NetMind allows Puma to make these solutions available via one push of the button on the mobile Internet.

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