GrapeCity Acquires FarPoint Technologies

Acquisition Includes All FarPoint Products and Existing Customer Base

KIRKLAND, Wash.--(BUSINESS WIRE)--GrapeCity today announced that it has executed an acquisition agreement with FarPoint Technologies, Inc., developer of world’s best selling and award-winning spreadsheet software components for Microsoft’s development platform. Under the terms of the agreement, GrapeCity will be purchasing all FarPoint products and the resulting revenues.

“After careful consideration of the interests of all our stakeholders—current and future customers, employees and distributors—the owners of FarPoint sought this acquisition by GrapeCity”

GrapeCity, which has localized, sold, and supported FarPoint products in the highly competitive Japanese market for more than a decade, will continue to develop and support FarPoint products worldwide, including the upcoming releases of FarPoint Spread for, Windows Forms and for ASP.NET, including the Microsoft Silverlight and WPF versions. The transition will be phased in over a six-month period, beginning in October 2009.

“We’ve always been impressed with the high quality of FarPoint products—in fact, their Spread product is one of the top components used by Microsoft Visual Studio developers in Japan,” said Naoyuki Baba, GrapeCity President. “With our 25+ years of experience in bringing world-class software solutions to a global client base, we’re in a great position to further extend FarPoint’s market reach. And their outstanding developer components will help us expand our developer tools offerings across a broader range of vertical markets.”

“After careful consideration of the interests of all our stakeholders—current and future customers, employees and distributors—the owners of FarPoint sought this acquisition by GrapeCity,” said Rick Williamson, FarPoint CEO. “GrapeCity has been our trusted partner for over fifteen years, and we believe they are uniquely positioned to carry forward our strong tradition of bringing innovative products to new markets and geographies, providing superb customer support, and taking great care of our employees. With GrapeCity’s global expertise and the acquisitions of Data Dynamics last year, and now FarPoint, we feel we can now meet all expectations of the serious business developer.”

About GrapeCity

GrapeCity is a Microsoft Gold Certified Partner, an international award-winning software firm and the world’s largest component vendor with headquarters in Japan and U.S. headquarters in Kirkland, WA, employing more than 850 worldwide. GrapeCity’s mission is to turn new ideas for software into marketable products and business solutions. For over 25 years, the company has provided enterprises around the world with state-of-the-art software tools, solutions, and services to help accomplish this goal. For more information, visit www.grapecity.com

About FarPoint Technologies

FarPoint Technologies, Inc., a privately held company with corporate headquarters located next to Research Triangle Park (RTP) in Morrisville, North Carolina, is a leading developer and publisher of professional components for Windows and web development. Since 1991, its award-winning tools have benefited the leading corporations, software companies, and independent consultants around the world as a cost-effective solution for building distributed enterprise-wide applications for commercial or in-house use. For more information, visit www.farpointspread.com.