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TWST: We would like to begin, if you will, with a brief historical sketch of
Proginet and a picture of things as they are now.
Mr. Kelly: Proginet was founded back in 1984 by a couple of individuals who
recognized the need in the market for a managed file transfer capability for the
distributed processing environment. At that time, we had -- with the advent of
minicomputers and the introduction of personal computers, there was a need to
distribute information between the various computing platforms. So Proginet was
founded to respond to that market need and the first product that the company
developed was a product called XCOM, which was a file transfer system to meet
the protocol requirements of mainframe and distributed processing systems. In
1991, Proginet sold XCOM off to a company called Legent for $6.2 million, which
was a large sum of money at that time for a small company. And since then, XCOM
has been acquired by Computer Associates as Legent was acquired by CA a few
years ago. The first product we developed, XCOM, has generated just under $1
billion of revenue since it was introduced back in 1988. We took the monies from
the sale of XCOM and we developed the next generation of managed file transfer
capabilities, which is really the core competency that Proginet has, launched
our CyberFusion technology and Fusion technology between 1994 through 1996 and
we went public in 1995. With those products selling in that time frame, we went
into the development of our password management technology called SecurPass and
we jointly introduced that into the market, primarily supporting password
management between a mainframe environment and a Windows platform, having
jointly developed SecurPass with Microsoft back in 1997. Most recently, Proginet
has launched the CyberFusion Integration Suite technology, which is an advanced
managed file transfer solution that allows for transfers of data both inside and
outside of an enterprise to satisfy the security, the regulatory, and the
business process requirements of major complex enterprises today.
Tickers included in this excerpt: PRGF
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