Jessica McNulty, USWeb/CKS, 415/369-6722
[email protected]
Laura Field, Whittman-Hart, 312/913-3052
[email protected]
USWeb/CKS And Whittman-Hart Announce Early Termination of Antitrust Waiting Period
SAN FRANCISCO, CA and CHICAGO, IL - February 2, 2000 - USWeb/CKS and Whittman-Hart jointly announced today that they have received early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to the merger of the companies. Consummation of the merger remains subject to approval by the stockholders of both USWeb/CKS and Whittman-Hart and other customary closing conditions. Subject to the satisfaction or waiver of all closing conditions, the merger is expected to close by early March 2000.
"This early clearance adds to our momentum in creating a unique entity - a company that the market hasn't seen before," said Bob Bernard, CEO of Whittman-Hart. "We believe the market requires the unmatched value we can create for companies that are evaluating Internet strategy, marketing and technology initiatives. We see strong demand for this powerful combination, bringing together the business-to-business expertise of Whittman-Hart and USWeb/CKS's business-to-consumer expertise. This is just what our clients are looking for."
"The pending merger between USWeb/CKS and Whittman-Hart is great news for us," said Patrick Connolly, executive vice president and general manager of catalog and Web businesses for Williams-Sonoma. "With the help of USWeb/CKS, Williams-Sonoma launched its e-commerce site in November 1999. In just two months, we became the leading retailer of cooking and serving equipment on the Web. But to stay competitive, our e-commerce solution must reach even deeper into our business systems. I envision a solution linking our entire supply chain to our e-commerce front-end, so suppliers would automatically know, for example, when to replenish our inventory. The joint expertise of USWeb/CKS and Whittman-Hart is the kind of expertise needed to make that happen."
USWeb/CKS seeks to transform businesses in the digital economy and create sustainable market leadership for its clients. As the leading Internet professional services firm, USWeb/CKS has created a new standard for success in the digital economy -- Time-to-Value. Time-to-Value means USWeb/CKS applies its extensive insight, experience and scale to deliver breakthrough results quickly. The Company is headquartered in San Francisco, California, with more than 4,100 professionals in 13 countries around the world. Additional information about USWeb/CKS is available by calling 415/284-7070.
Headquartered in Chicago, Whittman-Hart helps clients improve marketplace performance by creating the essential connections between digital strategy, creative marketing and technology. In 1999, FORTUNE ranked Whittman-Hart as one of America's Fastest-Growing Companies. In 1998 and 1997, Forbes named Whittman-Hart one of the 200 Best Small Companies in America. Whittman-Hart has approximately 4,100 employees in 23 branch offices throughout the United States and the United Kingdom. Its Web site is www.whittman-hart.com.
This press release contains "forward looking statements" (as defined under federal securities law) regarding the planned merger of USWeb/CKS and Whittman-Hart. The actual events, including the ability of the companies to obtain stockholder approval, close the merger transaction and complete the integration of the two entities, may differ materially and adversely from those discussed in this press release. Factors that may cause such a difference include, without limitation, inability to obtain stockholder approval of the transaction, failure to satisfy the closing conditions set forth in the merger agreement, adverse fluctuations in stock prices, potential litigation, and other risks associated with acquisitions, such as difficulties in integrating operations. There can be no assurance that the merger will be completed on the intended schedule, or at all, or that the combined entities will be able to realize the intended benefits. For additional information about factors that could affect the businesses of USWeb/CKS and Whittman-Hart, see the documents filed by the companies with the United States Securities and Exchange Commission.