Cisco Chooses Portal as Strategic Customer Management and Billing Partner
SAN JOSE, Calif. -- May 12, 1999 -- Cisco Systems, Inc., the worldwide leader in networking for the Internet, today announced that it has entered into a stock purchase and strategic alliance agreement with Portal Software, Inc., a leading provider of customer management and billing software for Internet and emerging next-generation communications services.
Cisco has purchase 3,000,000 shares of Portal's common stock valued at approximately $39 million. In addition to the common stock purchase agreement, the companies have also formed an alliance in which Cisco has designated Portal to be it's strategic customer management and billing partner for next-generation data Internet Protocol (IP) services. Cisco engineering and marketing will work closely with Portal to deliver solutions that tightly integrate Cisco Service Management (CSM) technology with Portal's real-time, flexible customer management and billing software, Infranet..
"Because the IP services market is in a constant state of evolution and substantial growth, service providers are investing in Internet infrastructures that can support their businesses within this changing environment," said Don Listwin, executive vice president at Cisco. "Cisco views customer management and billing as an extremely important component of a service provider's Internet infrastructure, and Portal's software offers real-time functionality to meet the changing needs of this market. We look forward to jointly delivering industry-leading infrastructure solutions that help our customers succeed."
"This strategic alliance between Cisco and Portal is highly significant and sends a clear message that customer management and billing for IP and next-generation services is a strategic technology," said John Little, founder and CEO of Portal Software. "We are excited to jointly build and market solutions that integrate with Cisco's industry-leading IP product lines."
Portal's real-time customer management and billing software enables Internet and next-generation communications services to rapidly develop, price and provision new services and efficiently manage customer usage and billing. Portal's real-time technology and flexibility are designed to enable Internet service and communications companies to generate more revenue and be more competitive by bringing new services to market quicker and by establishing innovative ways of supporting and reacting to customers needs.
About Portal
Portal Software Inc., (NASDAQ: PRSF) develops, markets and supports real-time, scalable customer management and billing software, or CM&B software, for providers of Internet-based services. Portal's Infranet software is a comprehensive solution that meets the complex, mission-critical provisioning, accounting, reporting and marketing needs of providers of Internet-based services.Cisco Systems
Cisco Systems, Inc. (NASDAQ:CSCO) is the worldwide leader in networking for the Internet.For more information visit Cisco PR Contacts
)1999 Portal Software, Inc. All rights reserved. Portal and Infranet are U.S. registered trademarks, and Portal Software, the Portal logo, the Real-Time-No Limits tagline and Infranet IPT are trademarks of Portal Software, Inc.
Cisco, Cisco IOS, Cisco Systems and the Cisco Systems logo are registered trademarks of Cisco Systems, Inc. in the U.S., Canada and other countries. All other brand names and trademarks mentioned in this document are properties of their respective owners.
This press release may contain certain forward-looking statements that relate to Portal Software's future business and financial performance. Such statements are subject to a number of risks and uncertainties that may cause the actual events or future results to differ from those discussed herein. Such factors include: Portal's limited operating history, fluctuating quarterly operating results, expectation of continued losses, market acceptance of Portal's Infranet product, reliance on its direct sales force to sell Infranet, concentrated customer base, reliance on systems integrators and other strategic relationships, ability to manage growth, ability to attract and retain key personnel, the continued growth of the Internet and Internet-based systems and dependence on proprietary rights.
