My Account Store Store

Actifunds Corporation Acquires Easyware Software, Inc.

November 9, 2000 - Combined Companies Become the Leading Provider of Products for All Investment Clubs

CAMBRIDGE, MA, November 9, 2000 -- Actifunds Corporation( www.actifunds.com) today announced an agreement to acquire EasyWare Software, Inc. ( www.easywaresoftware.com), a San Jose-based developer of investment club products and accounting software. For the past ten years, EasyWare has been the sole provider of desktop investment club accounting for the National Association of Investors Corporation (NAIC), a non-profit organization dedicated to investment education for personal investors and investment clubs. In addition, EasyWare provides the official NAIC Web-based platform for investment club accounting and community development. The NAIC has over 637,000 individual and investment club members.

Actifunds is a leading provider of Web-based group financial products for online brokers and financial communities. Under the terms of the agreement, Actifunds will acquire all of the issued and outstanding stock of EasyWare Software, Inc. EasyWare will become a wholly owned subsidiary of Actifunds Corporation. The acquisition makes Actifunds the leading provider of investment club products.

"Due to the opportunities they provide for collaboration and education, investment clubs have become a preferred method of online investing for over 1.2 million people nationwide," said Robert Brooker, Co-founder and Chairman of Actifunds. "The acquisition of EasyWare Software strengthens Actifunds' product offering and allows us to work more closely with the 36,000 clubs already using EasyWare's software, representing over 500,000 investors whose portfolios average over $250,000 each. By combining our efforts, we can more effectively leverage the Internet to make group investing easier and more profitable for club members."

"We are excited to join Actifunds," said Tim Connelly, CEO of EasyWare Software. "By combining their technology and innovative concepts for building community with our extensive experience in investment club accounting, we are poised to offer the best solutions for personal investors."

About Investment Clubs
Investment clubs are legal partnerships typically composed of 10 to 15 individuals who pool their knowledge and money to jointly invest. Investment clubs offer group education and collaboration opportunities for personal investing. A preferred method of online investing for over 2.5 million people worldwide, the number of investment clubs in existence has quadrupled over the past six years and continues to grow rapidly. Club holdings in the US alone are over $10 billion, with $270 billion in additional securities owned by individual US club members.

About EasyWare Software
Founded in 1990 and located in San Jose, CA, EasyWare Software is the sole provider of Web-based and standalone club accounting software to the National Association of Investors Corporation (NAIC). Over 36,000 investment clubs, representing more than 500,000 NAIC investors, currently use EasyWare's products.

About Actifunds Corporation Actifunds is a leading provider of group financial products to financial institutions and online communities. With Actifunds, investment clubs, online brokers and financial communities empower investors to communicate and collaborate with others on investing decisions. The Actifunds patented online platform provides investment club members with real-time portfolio tracking and accounting, public and private forums, secure voting and trading. Founded in February 2000, Actifunds is based in Cambridge, MA.



 
  
About    Press    Management    Privacy Policy    Terms of Service    Contact

copyright 1989 - ICLUBcentral Inc. or its affiliates