Formal Vote to be Held Regarding Proposed Acquisition by Informix
LOS GATOS, Calif., Dec. 9 /PRNewswire/ -- Red Brick(R) Systems, Inc.
(Nasdaq: REDB) today announced that a special meeting of stockholders
regarding the proposed acquisition of Red Brick Systems, Inc. by Informix
Corporation will be held at 8:00 am on December 31, 1998 at Hyatt Rickeys,
located at 4219 El Camino Real, Palo Alto, California. Stockholders of record
as of December 3, 1998 will be entitled to vote on this proposal.
The proposed acquisition is subject to the satisfaction of certain
conditions, several of which have already been satisfied. The condition that
Red Brick complete independent audits of its financial results for the first
three quarters of 1998 and the nine-month period ended September 30, 1998 has
been completed. The required waiting period under the Hart-Scott-Rodino
Antitrust Improvement Act of 1976, as amended, ended on November 25, 1998.
The Securities and Exchange Commission has declared Red Brick's and Informix's
joint proxy statement/prospectus effective, permitting its mailing to Red
Brick stockholders. The proposed acquisition now requires the approval of Red
Brick stockholders holding a majority of the shares outstanding on the record
date.
As described more fully in the proxy statement, the Board of Directors
believes that the acquisition by Informix is in the best interest of Red Brick
and its stockholders, and has unanimously recommended approval of the merger
agreement. Proxy statements will be sent to stockholders this week.
About Red Brick
Red Brick Systems, Inc. is a premier provider of data warehousing
solutions. Through Red Brick DecisionScape(SM), a comprehensive, integrated
environment of products, services, methodology and partnerships, Red Brick
helps its customers and partners improve the quality, speed and accuracy of
their business decision-making. Red Brick's leading expertise and innovative,
server-integrated technology deliver scalable decision support solutions for
data warehousing, data marts, OLAP and data mining.
Except for the historical information contained herein, the matters
discussed in this news release include forward-looking statements that involve
risks and uncertainties described from time to time in the Company's filings
with the Securities and Exchange Commission (SEC). Factors that could cause
actual events or results to differ materially include without limitation:
Failure to Close the Proposed Merger with Informix; Going Concern Assumption,
Future Capital Requirements and No Assurance of Future Financing; Increased
Competition within the Data Warehousing Industry; Potential Selling Price
Erosion; Sales and Marketing Repositioning; Dependence on New Products and
Rapid Technological Change; Dependence Upon Key Personnel; Product and
Customer Concentration; Risks associated with Litigation; Dependence on
Continued Growth of the Data Warehouse Market; and other factors discussed in
the "Risk Factors" sections of the Joint Proxy Statement/Prospectus of Red
Brick and Informix as filed by Informix with the SEC on December 3, 1998, Red
Brick's most recent Annual Report filed with the SEC on Form 10-K for the year
ended December 31, 1997 and the most recent Form 10-Q for the quarter ended
September 30, 1998.
News releases and corporate background information may also be retrieved
by fax. For an index of available materials, please call 800-758-5804, and
enter PIN #105756. Red Brick and the Red Brick logo are registered trademarks
and Red Brick DecisionScape is a service mark and trademark of Red Brick
Systems, Inc. All other trademarks and registered trademarks are the property
of their respective holders.
SOURCE Red Brick Systems, Inc.
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Related links:
http://www.redbrick.com
Company News On-Call:
http://www.prnewswire.com/comp/105756.html or fax,
800-758-5804, ext. 105756
CONTACT:
Rebecca Kreps, 408-399-7824, or
rkreps@redbrick.com, or Carolyn Hughes, 408-399-7216, or
chughes@redbrick.com, both of Red Brick Systems, Inc.
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