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2000 Press Releases
Digital Insight and nFrontTM
Schedule Special Stockholders' Meetings
to Approve Proposed Merger
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Contact:
Traci Dakins
Digital Insight
(805) 772-9130 ext 16
or (626) 676-8211
tdakins@stephensongroup.com
Kelly Harviel
nFront
(770) 209-4460 ext. 265
kharviel@banking.com
Digital Insight and nFrontTM Schedule Special Stockholders' Meetings to Approve Proposed Merger
Calabasas, CA - January 4, 2000 - Digital Insight Corporation (Nasdaq: DGIN) and nFrontTM, Inc. (Nasdaq: NFNT) announced today that they have scheduled special meetings of their respective stockholders to vote on the previously announced merger agreement between the two companies. Digital Insight's special meeting will be held on Thursday, February 10, 2000 at 9 a.m. local time at its headquarters at 26025 Mureau Road, Calabasas, California 91302. nFrontTM's special meeting will be held on Thursday, February 10, 2000 at 11 a.m. local time at the Northeast Atlanta Hilton, 5393 Peachtree Industrial Boulevard, Norcross, Georgia 30092. Digital Insight's stockholders will also be asked to vote on an amendment to the 1999 Stock Plan.
The definitive merger agreement was announced November 21, 1999. Under the agreement, Digital Insight would acquire all outstanding shares of nFrontTM in a tax-free, stock-for-stock transaction, and nFrontTM shareholders would receive 0.579 shares of Digital Insight for each share of nFrontTM common stock.
Notices of the meetings and proxy materials are expected to be mailed to all Digital Insight and nFrontTM stockholders during the second week of January. The record date for both meetings is January 6, 2000.
Bank Boston Equiserve is Digital Insight's stock transfer agent. Corporate Investor Communications will be acting as the proxy solicitor. American Stock Transfer & Trust Company is nFrontTM's stock transfer agent. Corporate Communications, Inc. will be acting as nFrontTM's proxy solicitor.
This release is being made for information purposes only and is not intended to be a solicitation of proxies for the proposed transaction.
About Digital Insight
Digital Insight is the leading provider of real-time Internet banking services to community financial institutions. Digital Insight offers these institutions a cost-effective, outsourced service, branded in the institution's name, which enables them to provide Internet-based banking to their individual and commercial customers. Digital Insight also provides a target marketing module to facilitate the sale of additional financial services to end users, as well as customized website design and hosting.
Digital Insight's AXIS(tm) architecture is highly secure and scalable. AXIS is designed to communicate in real time with the institution's core data processing system to allow transactions conducted on the website to be posted immediately. AXIS Internet Banking solution delivers a full range of Internet branch capabilities, including Bill Payment, to the financial institution's retail customers. AXIS Cash Management provides a comprehensive set of Internet banking functionality to the institution's business customers.
Over 400 community financial institutions have contracted with Digital Insight for one or more of the company's products and services. Over 620,000 customers of these institutions are actively using the AXIS Internet banking solution. For more information about Digital Insight, go to www.digitalinsight.com.
About nFrontTM
nFrontTM, Inc. (NASDAQ: NFNT, www.nFrontTM.com) is a leading Internet banking services company that enables small- to mid-size financial institutions to process financial transactions with their customers via bank-branded websites. nFrontTM's comprehensive outsourced service is a secure, reliable and scalable way to deliver Internet banking, a key means of attracting and retaining profitable customers. Exclusively endorsed by the American Bankers Association(r) (ABA) and winner of Microsoft's Best Internet Banking Solution Award, nFrontTM provides fully transactional Internet banking development and implementation, website design, maintenance and hosting, customer service training and support, and marketing consulting services.
Certain of the matters discussed in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including the statement as to the intended proxy mailing date and stockholder meeting date. Such statements are subject to legal and regulatory risks and uncertainties that may cause actual timing to differ from that forecast.
