ManagedStorage International Acquisition

4/17/2004

M&A

$39,000,000

The aggregate purchase price will be approximately $39 million, which will be paid in restricted shares of Front Porch Digital common and preferred stock. As a result of the transaction, the combined company will have a stronger balance sheet with approximately $7.5 million in unrestricted cash and accounts receivables, positive working capital, additional restricted cash of $3.1 million and positive shareholder equity. The transaction is anticipated to provide the combined company access to resources that can enable it to accelerate penetration of existing markets and expand into other related markets.

Acquired or Merged

Storage

12303 Airport Wy 250
Broomfield, CO 80021
USA

Not Recorded

ManagedStorage International provides storage management services to enterprise and service provider customers in the US, UK, France, and Japan. MSI uses its proprietary GridWorksTM management system to deliver guaranteed data management and data protection services across all types of storage systems both onsite and remotely.