| ANTs Software Announces Agreement to Acquire Inventa Technologies, Inc. |
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Professional Services Experts to Accelerate Deployment of ANTs Compatibility Server Burlingame, CA, May 19, 2008 – ANTs software inc. (OTCBB:ANTS), a leader in compatible, high-performance SQL database management systems, today announced it has signed a definitive agreement to acquire Inventa Technologies, Inc., a provider of application and database managed services. With the acquisition of Inventa, ANTs Software has added an experienced professional services team to complement the strong engineering team behind the ANTs Compatibility Server. Taken together, the company now offers customers and database vendors a market-leading application re-hosting product and a high-caliber team of consultants to deploy it. Under the terms of the agreement, ANTs Software will pay $3 million in cash, issue a $2 million convertible promissory note and issue 20 million shares of ANTs Software common stock to Inventa's shareholders. Inventa will become a wholly owned subsidiary of ANTs Software, will retain its name and continue to service its customers without interruption. The acquisition is expected to close by May 30, 2008. Inventa Technologies is a leading provider of software and managed services to Fortune 1000 enterprises in financial services, insurance, healthcare and manufacturing, allowing them to maximize technology infrastructure while optimizing their business. Inventa offers customers extensive services offerings ranging from architecting or managing database infrastructure, to full application performance tuning and administrative services. Inventa has long-standing relationships with most of its customers, many of whom sign multi-year contracts. Inventa brings to ANTs Software an experienced delivery staff with competencies across the major technology and database platforms in use today, both distributed and mainframe. The management team has led and managed consulting practices at Sybase, McKinsey, CSC, and Ernst and Young. Founded in 1993, Inventa has 35 employees. It generated revenues (unaudited) of approximately $5 million in 2007, which ANTs intends to add to through ANTs Compatibility Server™ (ACS) delivery and related services projects. “ANTs Software and Inventa are a great fit. We develop innovative products and Inventa helps ensure customers are successful deploying and using them. With this acquisition, we are executing on our vision to provide customers with a complete offering to meet their application re-hosting requirements,” said Joseph Kozak, chairman and CEO of ANTs Software. “The ACS was launched last month and has created great excitement. Now, customers will have the support they need to efficiently deploy and gain maximum benefits from this innovative new product.” “The Inventa team has worked side-by-side with ANTs Software during pilot testing of ACS and we have seen first-hand the value that ACS brings – faster, easier and lower-cost application re-hosting,” said Richard Cerwonka, president and CEO of Inventa Technologies. “The combination of ANTs and Inventa is truly exciting in that it addresses a new market, database consolidation. This is the first solution that gives enterprises the flexibility to move applications among data stores and allows them to generate potentially significant savings in the process. We are energized to be part of the team bringing this exciting product to market. Our customers are already trying ACS and they like what they see.” The ANTs Compatibility Server ANTs software inc. # # # Company contact: For additional information: ANTs Compatibility Server (ACS) and ANTs Data Server are trademarks of ANTs software inc This press release is neither an offer to sell, nor a solicitation of offers to purchase securities. This press release contains forward-looking statements within the meaning of the federal securities laws, including statements concerning product development activities and sales and licensing activities. Such forward-looking statements are not guarantees of future performance, are sometimes identified by words of condition such as “should,” “could,” “expects,” “may,” or “intends,” and are subject to a number of risks and uncertainties, known and unknown, that could cause actual results to differ materially from those intended or anticipated. Such risks include, without limitation: the possibility that the acquisition mentioned above may not close or may not close by May 30, 2008, ANTs Software may not successfully integrate the people and processes of Inventa, Inventa’s customers may not renew contracts, Inventa may have unknown liabilities for which ANTs is responsible, ANTs may generate little or no services revenue related to the ANTs Compatibility Server, the services revenue may not grow, the market may not respond positively to the ANTs Compatibility Server, the Compatibility Server may not be developed into a marketable product, challenges arising from competition, problems encountered in commercializing the ANTs technology, potential of undetected infringing technology or non-infringing competitive technologies, difficulties experienced in product development, roadblocks experienced in sales and marketing activities, longer than expected sales processes, difficulties in recruiting knowledgeable and experienced personnel, possible problems in migrating applications using the Compatibility Server, potential problems in protecting the Company’s intellectual property, and problems securing the necessary financing to continue operations. Further information concerning these and other risks is included in the Company’s filings with the Securities and Exchange Commission, including the Company’s most recent Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2008. The Company undertakes no obligation to update or revise such forward-looking statements to reflect events or circumstances occurring after the date of this press release.
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