FOR IMMEDIATE RELEASE
TurboExcel Rebranded Calc4Web Ending Microsoft Trademark Dispute
NEW YORK and REDMOND, Wash.-- April 30, 2007- Savvysoft and Microsoft jointly announced today that they have reached an amicable resolution of their dispute over the name of Savvysoft's TurboExcel product.
Under the agreement, Savvysoft will change the name of the TurboExcel product to Calc4Web. Savvysoft's Calc4Web product will be co-marketed on Microsoft's Office Marketplace website and at industry conferences.
Under the terms of the agreement, which is confidential, neither company admits liability.
"Resolving this dispute is in the best interest of our customers," said Rich Tanenbaum, President and founder of Savvysoft. "Much more can be gained by everyone if Savvysoft and Microsoft enjoy a mutually beneficial relationship."
A Microsoft official said the company is pleased to resolve the matter, noting that the agreement protects Microsoft's intellectual property rights associated with the name of its trademarked Excel spreadsheet software, while ensuring that Savvysoft can continue to innovate.
About Savvysoft
Savvysoft is an award-winning New York City-based software provider of portfolio and risk management systems, and market-implied corporate default rates. Savvysoft also offers an add-on to the Microsoft Office Excel spreadsheet that automatically turns calculations into working C++ code. Its products are used by over 3000 institutions in 15 countries worldwide, including top-tier banks, dealers, brokers, money managers, energy suppliers, corporate treasurers, auditors and consultants. More information is available online at www.savvysoft.com.
About Microsoft
Founded in 1975, Microsoft (Nasdaq "MSFT") is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.
| "Once you’ve used Calc4Web, you may find that you simply can’t be without it." Rick Grehan, InfoWorld "It's not just cool. It's simple." Tom Yager, InfoWorld "With Calc4Web, I'm able to write sophisticated C++ programs in minutes using only an Excel spreadsheet. Doing it directly in C++ would take several days." Jerome Montpetit, Risk Manager, Canadian Financial Institution "A highly specialized tool that can bring significant benefits to some development tasks." Peter Aitken, DevSource "Calc4Web does just one thing: converts Excel spreadsheets and VBA to C++ DLLs and addins. But the implications of this, and it's myriad uses, are much more far-reaching in terms of latency reduction and productivity enhancement." Andy Webb, e-FOREX |