Liberate Technologies To Acquire MoreCom, Inc.

29-Mar-00

Liberate Technologies announced that it has signed a definitive agreement to acquire privately held MoreCom, Inc., a leading provider of standards based interactive television infrastructure based in Horsham, Pennsylvania. Under terms of the acquisition, Liberate will issue common stock to existing MoreCom shareholders. The all-stock transaction will be accounted for using purchase accounting and closing is anticipated to occur in the second calendar quarter of 2000. The acquisition is subject to customary closing conditions and regulatory approval.The acquisition extends Liberateís technology leadership by adopting MoreComís significant digital television, DVB, MHP and MPEG expertise and technologies, which are essential for serving the satellite and digital terrestrial marketplace. MoreCom offers cable, satellite and digital terrestrial operators a complete end-to-end software solution to merge digital video with Internet content for television applications using existing broadband networks and digital set-top boxes. As part of the transaction, Liberate also obtains MoreComís patent portfolio addressing various aspects of digital television and Internet integration.The acquisition also brings two influential network operators to Liberateís expanding European and international customer base. In Germany, the acquisition brings the d-box network operator BetaResearch, a KirchGruppe company, with access to over 4 million subscribers in one of the worldís largest cable and satellite marketplaces. Deployments of MoreCom products should begin with the satellite properties later this year. In addition, the acquisition also delivers the Israeli based Golden Channels with over 600,000 cable subscribers who will have access to the combined Liberate and MoreCom solutions.""With the MoreCom acquisition, Liberate strengthens its solution for network operators to deliver compelling interactive TV services across any kind of network,"" said Mitchell Kertzman, President and CEO, Liberate Technologies. ""By combining the strength of MoreComís talent and technologies with Liberateís leading interactive TV platform, we can achieve the same dominant position in satellite and digital terrestrial that we now hold in the cable marketplace.""""This acquisition brings the power of MoreComís innovative technology and products for satellite, digital terrestrial, and cable to Liberateís market leading interactive TV platform"" said Ami Miron, Chairman and CEO of MoreCom, Inc. ""I am very proud of our talented team and their accomplishments. We look forward to becoming part of Liberateís world class organization and providing the state-of-the-art family of products for broadband operators and subscribers.""MoreComís client and server products provide a complete end-to-end solution for merging digital television with Internet content. Like the Liberate product family, all MoreCom products are designed to Internet and broadcast industry standards such as HTML, TCP/IP, MPEG, ATSC, DVB, ATVEF, DAVIC and OpenCable.This adherence ensures that MoreCom products have the flexibility to deploy on the current and future generations of broadband digital TV networks in markets worldwide. In addition, the companiesí standards-based products guarantee easy integration with broadband digital set-tops, headends, and network products from various vendors, and allows content generation using standard tools. Liberate intends to integrate the MoreCom technologies so the Liberates client and server suite will support the range of MoreCom client and server software.About MoreCom, Inc.MoreCom, Inc., was founded in 1997 by pioneers in television and digital cable from General Instrument and Philips Electronics. MoreComís technology offers network operators a complete end-to-end software solution for seamless integration of digital video and Internet-based services for television. The companyís standards-based technology uses existing set-top boxes to deliver a wide range of Internet-based applications such as enhanced TV, Internet access, Web-based video-on-demand, e-mail, chat, and e-commerce. MoreComís technology enables advanced interactive services on existing set-top boxes using DVB or DOCSIS modems. Information on MoreComís products and services is available at http://www.morecom.com.About Liberate TechnologiesLiberate Technologies (NASDAQ: LBRT) is a leading provider of a complete software platform for delivering Internet-enhanced content and applications to information appliances, such as television set-top boxes and game consoles.Liberates Internet-based client and server software allows network operators, such as telecommunications companies, cable and satellite television operators and Internet service providers to give consumers access to network operator-branded applications and services. Headquartered in San Carlos, California, the Company has sales offices in the US and the UK. Information on Liberate Technologies products and services is available at http://www.liberate.com. Source: M2 Communications

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