Sopheon PLC
25 August 2000
SOPHEON PLC
SOPHEON AND TELTECH ANNOUNCE SEC REGISTRATION STATEMENT
DECLARED EFFECTIVE AND COMPLETION TIMETABLE SET
Sopheon plc ('Sopheon') and Teltech Resource Network
Corporation ('Teltech') today jointly announce that
they expect the merger of Teltech into Sopheon to be
completed on or about 15 September 2000.
Teltech is calling a special meeting of shareholders
to be held on 8 September 2000 at its offices
in Minneapolis, Minnesota. Teltech shareholders
are expected to approve the merger at the
special meeting. The merger itself will be completed
within several business days following shareholder
approval.
Teltech is mailing its proxy statement for the special
meeting today. The proxy statement also includes a
prospectus relating to the Sopheon ordinary shares to
be issued in the transaction. Sopheon's registration
statement was declared effective by the SEC on
24 August 2000.
In a joint letter to Teltech shareholders, Barry Mence
and Joe Shuster, chairmen of Sopheon and Teltech
respectively, said 'this merger will create a knowledge
management software and services group with a substantial
customer base in Europe and in the United
States. Underpinned as it will be by the development
capital raised by Sopheon in March of this year, we
believe the merger will create a platform on which we
will have the opportunity to build a truly global business
in knowledge management. The board of Teltech has endorsed
the merger unanimously.
About Sopheon
Sopheon is a supplier of knowledge management software
and services. Its shares are quoted on the UK
Alternative Investment Market (AIM) and on the Euro.NM in Amsterdam.
Sopheon has operational headquarters in Guildford, UK, and
has offices in the Netherlands and the USA. Information on
Sopheon's products is available on : www.sopheon.com.
About Teltech
Teltech Resource Network Corporation (www.teltech.com) is a
leading provider of business-to-business research and knowledge
management consulting services. Its vertical research portals
for business and technical professionals reduce unproductive
Internet search time by as much as 50%. Teltech's consulting
services assist companies in the development of e-business
strategies, and in the creation and implementation of portals
for e-business applications. Headquartered in Minneapolis,
Minnesota, Teltech is privately held. Its client list
includes half the Fortune 500.
For further information, please contact :
Barry Mence, Chairman (barry.mence@sopheon.com)
+44 (0)1483-883000
Richard Maddocks, Managing Director of Sopheon
(richard.maddocks@sopheon.com)
+31 (0)20-301-3900
Arif Karimjee, Finance Director of Sopheon
(arif.karimjee@sopheon.com)
+44 (0)1483-883000
Steve Liebmann at Buchanan Communications
(stevel@buchanan.uk.com)
+44 (0)20-7466-5000
Ronald Helgeson, Vice President,
Corporate Communications of
Teltech (rhelgeson@teltech.com)
+1 (952) 851-7585
Sopheon has filed a registration statement with the SEC on
Form F-4 in connection with its acquisition of Teltech.
Teltech shareholders are urged to read the proxy
statement/prospectus which is being mailed to them.
Sopheon's registration statement will be available at no
charge from the SEC's web site, www.sec.gov.
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