Company Contact:
Michael Liss
WARP Technology Holdings, Inc.
610-715-5656
mliss@warpsolutions.com
 Public Relations Contact:
Domenick Cilea
Springboard Public Relations
732-863-1900 x.102
dcilea@SpringboardPR.com

For Immediate Release:

WARP Technology Holdings Announces
Intent to Acquire SpiderSoftware

NEW YORK (October 8, 2002) – WARP Technology Holdings (OTC BB: WRPT), a leading provider of Internet application acceleration solutions, today announced its intention to acquire SpiderSoftware Inc., the recognized leader in dynamic content acceleration software. The strategic acquisition of SpiderSoftware will further expand the structural depth of WARP Technology Holdings and its subsidiary, WARP Solutions Inc., and increase the WARP companies’ operational capacity for sales, marketing, and engineering.

The combination of WARP Solutions and SpiderSoftware will offer service providers, enterprise organizations, and small- and medium-sized businesses a broad range of dynamic acceleration solutions to significantly improve the speed and performance of applications delivered across IP-based networks. As part of the planned acquisition, WARP also announced that Greg Parker, currently President and CEO of SpiderSoftware, will join WARP Technology Holdings as CTO, and will serve as a member of WARP Technology Holdings’ Board of Directors.

“The acquisition of SpiderSoftware and the addition of Greg Parker to our executive team will enable us to achieve significant economies of scale as we continue to expand the GTEN suite of solutions,” commented Karl Douglas, President and CEO of WARP Solutions. Warp’s GTEN (Global Transaction Enabled Network) framework offers an innovative, end-to-end dynamic application acceleration platform to deliver business-critical solutions.

“Through this agreement, we are positioned to better address a wider range of market needs,” said Mr. Parker. “WARP and SpiderSoftware are complementary in both our technology offering, and our corporate vision and strategy. Together, we can deliver a stronger force in driving the network application acceleration space.”

WARP Technology Holdings continues to pursue aggressive growth worldwide. Its subsidiary, WARP Solutions, recently secured global distribution partnerships with Macnica Networks Company in Japan and CDI Technologies in South Korea. The company will also exhibit with SpiderSoftware at the China Hi-Tech Fair 2002 (October 12-17 in Shenzhen, China) to follow up on additional opportunities in the Asia-Pacific market.

Under the terms of the deal, SpiderSoftware will continue to operate as its own entity, focusing on software solutions, as a subsidiary of WARP Technology Holdings. The company will maintain its existing business operations in Vancouver, Canada, extending WARP’s reach to the West Coast. WARP Solutions will continue to operate as a subsidiary of WARP Technology Holdings, focusing on network appliance solutions.

About SpiderSoftware, Inc.

SpiderSoftware, Inc. is a leading provider of dynamic content acceleration solutions that reduce infrastructure costs and increase scalability for Web sites and corporate intranets. SpiderSoftware enables organizations to get more out of their server infrastructures so they can deliver more content to more users faster – supporting e-commerce and retail, B2B, financial sites, online auctions, content sites, news services, portals, intranet applications, and more. SpiderSoftware’s innovative solutions provide measurable performance improvements and ROI upon installation and configuration. For information, visit http://www.spidersoftware.com.

 

 

About WARP Technology Holdings, Inc.

WARP Technology Holdings (OTC BB: WRPT) is a leading provider of network and application acceleration technology solutions. Through its subsidiaries WARP Solutions, Inc. and SpiderSoftware, Inc., and its licensing arrangement with iMimic Networking, Inc., the company offers a strategic portfolio of software and hardware solutions to significantly improve the speed, performance, and reliability of business-critical applications and content delivered over IP-based networks. For information, contact 877-688-9277.

Cautionary Statement

Statements contained herein which are not historical information are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties. Actual results could differ materially from those included in the forward-looking statements for a variety of reasons, including the level of acceptance of the WARP 2063e product by the marketplace, the ability of the product to achieve the results for which it is designed, the ability of the company to raise capital to fund operations and marketing programs for this product, competition from other approaches to application acceleration and network architecture, and other risks described in the Company’s filings with the Securities and Exchange Commission. These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements.



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