Omaha, NE - April 3, 2002 - Data Transmission Network (DTN), a leading provider of electronically delivered real-time market data to the agricultural and energy markets, announced today the acquisition of Financial Information Management, Inc. (FIMI). FIMI is a leading developer of sophisticated analytical systems used by professional futures traders and marketed under the "ProphetX" software brand. Financial terms of the transaction were not disclosed.
DTN began a close partnership with both FIMI and its value-added reseller Technova Research, Inc. in 1995. Recently, DTN has executed several strategic initiatives designed to create more comprehensive and cost-effective solutions for the professional trading community. The merger of DTN and FIMI represents a major milestone in building a closer union of data feed, network distribution and end-user tools that will benefit their many joint customers.
"FIMI is a recognized leader in providing intuitive, flexible and extremely powerful trading tools at a very competitive price. Combining this with DTN's core strength of efficiently aggregating and disseminating business-critical market data will create a tremendously strong value proposition," stated Corey Meyer, President of DTN Market Data LLC, a wholly-owned subsidiary of DTN. "DTN and FIMI share a strong commitment to the customer," Meyer continued. "These companies complement one another and their alliance will yield a forward-thinking customer driven organization."
"It's also important to note that DTN and FIMI enjoy many other productive third-party partnerships," Meyer said. "Compatibility and flexibility are attributes that have been vital to the success of both DTN and FIMI. We consider these relationships highly valuable and essential to our future plans."
John Nauman, President and CEO of FIMI, said, "We are very pleased to be joining DTN. This merger formalizes the already exceptionally strong working relationship we've enjoyed with DTN for a number of years." Nauman continued, "During recent discussions with DTN management, it became clear that many of our strategies were the same. This merger will allow us to aggressively pursue these common goals."
About Data Transmission Network Corporation
DTN is a portfolio company of VS&A Communications Partners III, LP, the private equity affiliate of (http://www.veronissuhler. com). Veronis Suhler Stevenson is a leading independent merchant bank dedicated exclusively to the media, communications and information industries.
About Financial Information Management, Inc.
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