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IBM completes investment in NetObjects

Somers, NY, and Redwood City, CA, April 16, 1997 -- (BUSINESS WIRE) -- IBM and NetObjects today announced that IBM is now a majority shareholder in NetObjects, the privately held provider of the award-winning NetObjects Fusion Web site building software.

This completes the deal announced by the companies on March 19.

As reported previously, NetObjects, headed by chairman and CEO Samir Arora, will continue to operate as an independent company that supports leading platforms and standards. Michael D. Zisman, executive vice president at Lotus, will join NetObjects' board of directors and will represent IBM's interests. The original investors, the management team and employees of NetObjects will retain investment interests. No further details of the transaction were disclosed.

For more information, contact:
Kamini Ramani
kamini@netobjects.com

NetObjects and NetObjects Fusion are trademarks of NetObjects, Inc.

 

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