Peritus Software Services Completes Acquisition of Millennium Dynamics, Inc.



Dec 03, 1997, 00:00 ET from Peritus Software Services, Inc.

   BILLERICA, Mass., Dec. 3 /PRNewswire/ -- Peritus Software Services, Inc.
 (Nasdaq:   PTUS) today announced that it has completed its acquisition of
 Millennium Dynamics, Inc., a wholly-owned subsidiary of American Premier
 Underwriters, Inc. based in Cincinnati, Ohio.  The combined offering provides
 IT organizations with one of the most comprehensive set of solutions to the
 Year 2000 problem available today.  Peritus exchanged 2,175,000 shares of its
 common stock and $30 million in cash to acquire the assets and assume certain
 liabilities of Millennium Dynamics.
     "The acquisition broadens our presence in our existing markets as well as
 expands our penetration into new markets.  We are very excited, as are the
 employees of both companies, about the prospect of going forward together,"
 said Allen Deary, CFO of Peritus.
     Douglas Catalano, CEO of Peritus said, "We have already begun to work
 together and are very pleased with the progress we have made.  The synergies
 between the two companies are compelling.  We believe there is a customer
 understanding and acceptance of the total solution we are now offering."
 
     About Peritus
     A leading provider of Year 2000 solutions, Peritus provides software
 products and services that enable organizations to improve the effectiveness
 of evolving information technology systems.  The company combines state-of-
 the-art concepts and scientific principles from multiple disciplines including
 organizational dynamics, workflow management, and formal mathematical
 techniques into a dynamic, leading-edge approach to software evolution.  With
 the recent acquisition of Millennium Dynamics, Inc. and the addition of the
 Vantage YR2000 product suite, Peritus now provides one of the most
 comprehensive renovation solutions with the most flexible choice of packages
 and pricing.
     Peritus offers direct licenses of the AutoEnhancer/2000 and Vantage YR2000
 products to clients who perform their renovations in-house.  Peritus also has
 agreements with value-added Service Providers who are licensed to use the
 AutoEnhancer/2000 and Vantage YR2000 products to perform renovations in
 conjunction with their own value-added products and services for the Year
 2000.  For more information, visit the Peritus Web site,
 http://www.peritus.com, or call 1-800-598-7787.
     NOTE: Peritus is a registered trademark, Automate:2000 is a registered
 servicemark, and AutoEnhancer/2000 are trademarks of Peritus Software
 Services, Inc.  Vantage YR2000 is a trademark of Millennium Dynamics, Inc.
 
 

SOURCE Peritus Software Services, Inc.
   BILLERICA, Mass., Dec. 3 /PRNewswire/ -- Peritus Software Services, Inc.
 (Nasdaq:   PTUS) today announced that it has completed its acquisition of
 Millennium Dynamics, Inc., a wholly-owned subsidiary of American Premier
 Underwriters, Inc. based in Cincinnati, Ohio.  The combined offering provides
 IT organizations with one of the most comprehensive set of solutions to the
 Year 2000 problem available today.  Peritus exchanged 2,175,000 shares of its
 common stock and $30 million in cash to acquire the assets and assume certain
 liabilities of Millennium Dynamics.
     "The acquisition broadens our presence in our existing markets as well as
 expands our penetration into new markets.  We are very excited, as are the
 employees of both companies, about the prospect of going forward together,"
 said Allen Deary, CFO of Peritus.
     Douglas Catalano, CEO of Peritus said, "We have already begun to work
 together and are very pleased with the progress we have made.  The synergies
 between the two companies are compelling.  We believe there is a customer
 understanding and acceptance of the total solution we are now offering."
 
     About Peritus
     A leading provider of Year 2000 solutions, Peritus provides software
 products and services that enable organizations to improve the effectiveness
 of evolving information technology systems.  The company combines state-of-
 the-art concepts and scientific principles from multiple disciplines including
 organizational dynamics, workflow management, and formal mathematical
 techniques into a dynamic, leading-edge approach to software evolution.  With
 the recent acquisition of Millennium Dynamics, Inc. and the addition of the
 Vantage YR2000 product suite, Peritus now provides one of the most
 comprehensive renovation solutions with the most flexible choice of packages
 and pricing.
     Peritus offers direct licenses of the AutoEnhancer/2000 and Vantage YR2000
 products to clients who perform their renovations in-house.  Peritus also has
 agreements with value-added Service Providers who are licensed to use the
 AutoEnhancer/2000 and Vantage YR2000 products to perform renovations in
 conjunction with their own value-added products and services for the Year
 2000.  For more information, visit the Peritus Web site,
 http://www.peritus.com, or call 1-800-598-7787.
     NOTE: Peritus is a registered trademark, Automate:2000 is a registered
 servicemark, and AutoEnhancer/2000 are trademarks of Peritus Software
 Services, Inc.  Vantage YR2000 is a trademark of Millennium Dynamics, Inc.
 
 SOURCE  Peritus Software Services, Inc.

RELATED LINKS

http://www.peritus.com