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SANTA CLARA, Calif., February 27, 2012 - BackWeb Technologies Ltd. (OTC Pink: BWEBF or BWEBF.PK) announced today that it has reached a settlement of its previously announced patent infringement litigation against International Business Machines Corporation (IBM). BackWeb had filed suit in September 2010 alleging patent infringement and seeking damages, an injunction and a declaration by the Court that IBM's software update technologies infringe BackWeb's patents. Under the settlement, all claims have been resolved, and the BackWeb patents are now licensed to IBM. The settlement and license agreement with IBM do not impact BackWeb's patent litigation versus Hewlett-Packard Company (HP), which continues.

2011 Preliminary Pro Forma Balance Sheet
BackWeb also released (below) an unaudited, preliminary pro forma balance sheet, dated December 31, 2011, which reflects the impact of the IBM litigation results and BackWeb's business operations during the year. The balance sheet shows cash and cash equivalents of $10.4 million. BackWeb has 41.3 million shares outstanding.

2010 Annual Report:
BackWeb has also released its 2010 Annual Report which includes audited financial statements and discussion of BackWeb's operations in 2011. The 2010 Annual Report is available on BackWeb's website at http://www.backweb.com/news/. BackWeb has not announced any new business initiatives, and management and the board are currently evaluating the company's strategic options.

BackWeb Technologies Ltd.

PRO FORMA Consolidated Balance Sheet

(In thousands)

 

Dec. 31, 2011
Unaudited, preliminary pro-forma

Dec. 31, 2010
audited

Current Assets:

 

 

Cash and Cash Equivalents

$ 10,451

$ 9,860

Trade Accounts Receivable and Other Current Assets

41

21

Total Current Assets

$ 10,492

$ 9,881

Non-current Assets, Property and Equipment, net and Other

--

6

Total assets

$ 10,492

$ 9,887

 

 

 

Current liabilities

 

 

Accounts Payable and Accrued Liabilities

$ 312

$ 277

Deferred revenue

--

5

Total current liabilities

$ 312

$ 282

Total shareholders' equity

$ 10,181

$ 9,605

Total liabilities and shareholders' equity

$ 10,492

$ 9,887

 

BackWeb had 41,333,704 Ordinary Shares outstanding at Dec. 31, 2011

 

About BackWeb:

BackWeb® Technologies Ltd. (www.backweb.com) has developed a range of communications software technologies and solutions enabling distribution of important information and digital assets. The company currently has very limited operations. BackWeb's operations are based in Santa Clara, CA and Israel.

Statements in this news release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements of beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, but are not limited to, comments concerning BackWeb's future company plans and future financial results. BackWeb assumes no obligation to update any of the forward-looking statements in this release.

© 2012 BackWeb Technologies Ltd. All rights reserved. BackWeb is a registered trademark. All other trademarks are property of their respective owners.

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For any questions or comments, please contact:

United States
Bill Heye
+1 (408) 676-8270
bwebf@backweb.com

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