OverviewEmail Security SecureTransport Validation Authority                          
OverviewIndustry Solutions Application Solutions                                                                     
OverviewPortal Login Consulting Training Contact                                           
Overview Find a Partner Apply Now Technology                         
 
 

Tumbleweed Press Releases

Tumbleweed Increases Ownership Position Of Japanese Subsidiary

Tumbleweed now owns 80% of Tumbleweed Communications KK

REDWOOD CITY, CA - August 29, 2000 - Tumbleweed® Communications Corp. (Nasdaq:TMWD), a leading provider of advanced email solutions for business communications, today announced that it has acquired an additional 25% of its jointly-owned Japanese subsidiary, Tumbleweed Communications K.K. (TKK), which it co-owns with Hikari Tsushin. The additional 25% interest in TKK increases Tumbleweed's ownership position in the subsidiary to 80%.

Tumbleweed purchased the shares from Hikari Tsushin for $13.75 million. Hikari Tsushin still owns 20% of shares in Tumbleweed KK.

"Tumbleweed has made significant progress in Japan, with customers across a broad range of core industries," said Jeffrey C. Smith, president and CEO, Tumbleweed Communications Corp. "We believe that our enhanced position in Tumbleweed KK is not only an excellent investment but also key to our business goals as we develop a long term presence in the Japanese market."

Tumbleweed's customers in Japan include Asia Securities Printing, Canon Sales, Daiwa, HP Japan, Hikari Tsushin, Matsushita, Mitsui & Co., Nippon Telephone and Telegraph and Toyo Information Systems. Shinji Eura, president of TKK, reports to Don Taylor, vice president, international of Tumbleweed Communications Corp. Mr. Eura, together, with Mr. Taylor and Jeffrey C. Smith, chairman, president and CEO of Tumbleweed, constitute three of the five members of TKK's board of directors.

About Tumbleweed Communications Corp.
Tumbleweed is a leading provider of solutions for managing secure communication and collaboration to enable the business Internet. Tumbleweed's robust policy-based framework empowers organizations to safely share and protect critical information, increase customer loyalty and privacy and dramatically reduce costs. Tumbleweed is trusted by 1,000 blue-chip customers including American Express, Chevron, Datek Online, the European Union's Joint Research Council, First Union Wachovia, John Deere, Merrill Lynch, Nike, Northern Trust, NTT, Salomon Smith Barney, Travelers and US Food and Drug Administration. One hundred of the Fortune 500 are Tumbleweed customers. Tumbleweed Communications was founded in 1993 and is headquartered in Redwood City, Calif., with offices around the world.

Except for the historical information contained herein, the matters discussed in this press release may constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected, particularly with respect to the security features of Tumbleweed's products and the activities of any third party. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions. For further cautions about the risks of investing in Tumbleweed, we refer you to the documents Tumbleweed files from time to time with the Securities and Exchange Commission, particularly Tumbleweed's Form 10-K filed March 30, 2001 and Form 10-Q filed November 13, 2001. Tumbleweed assumes no obligation to update information contained in this press release.

###
Contact:

Tumbleweed Communications
Lisa Poulson, (650) 650-216-2020
lisa.poulson@tumbleweed.com

Products