SOURCE: Subjex Corporation

December 18, 2006 15:50 ET

Subjex Corporation Announces Intent to Spin-Off Software Unit and Merge It With To-Be-Formed Entity of Plexus Corporation, a Worldwide Training Organization

New Company Expected to Trade Publicly and Immediately Be Positioned as Leader in User-Generated Courseware for Corporate Training Market

MINNEAPOLIS, MN -- (MARKET WIRE) -- December 18, 2006 -- Subjex Corporation (OTCBB: SBJX) today announced that it has signed a letter of intent with Plexus Corporation, a designer, developer and provider of online, classroom and customized training programs. Under the terms of the non-binding letter, Subjex will form a new company that will own the exclusive rights to SubjexCSR Software for education and training purposes and then will spin that company off through a distribution to shareholders.

Immediately following the spin-off, the new company is expected to merge with a company formed by Plexus which will own the exclusive rights to Plexus's Learning Suites Software. The resulting company, which is intended and expected to be publicly traded, will launch and maintain a website designed to allow users to develop, upload, distribute and be compensated for corporate training and education courses and courseware. The site will initially focus on companies that supply to the aerospace, automotive, environmental and healthcare industries and are looking to identify certain and specific training, educational and quality certifications that they are required to secure on their and their employees' behalf. Plexus's Learning Suites Software, which was developed for companies of all sizes and is currently being used by Boeing Company, the world's leading aerospace company, and SubjexCSR Software are expected to provide the architecture for the site.

Andrew Hyder, Chief Executive Officer of Subjex, stated, "We are delighted and excited to make today's announcement. SubjexCSR software will be a key element to helping make the Learning Suites Software the worldwide leader in user-generated courseware for the corporate training market. The new company will emerge with significant contracts with some of the world's largest and most successful manufacturers and will enjoy important relationships with some of the world's most prestigious training and certifying bodies. Additionally, today's announcement should allow Subjex to focus its energies and efforts to build a dynamic, profitable business in other areas, including the exciting initiatives we have going with SubjexFMS. We expect that our shareholders will realize significant value and appreciation with stakes in two exciting companies."

Alex Chong, Chief Executive Officer of Plexus, stated, "SubjexCSR software will enable the Plexus Learning Suites to emerge as the de facto standard in online, user-generated courseware, enabling courseware developers throughout the world to get their products in front of the world's greatest companies. We were sincerely delighted to find this unique and intuitive software and excited to bring it to the market as a publicly traded company."

Details of the company expected to be formed and spun-off have yet to be finalized, but officials of Subjex and Plexus expect to work out those details by early 2007. Subjex shareholders will receive a thorough description of the spin-off, the subsequent merger and the structure, officers and business of the new company in connection with the distribution of its shares late in mid-2007. Until then, ownership in Subjex common stock will be the only way to own the business expected to be formed.

Plexus Corporation, based in St. Paul, Minnesota, designs, develops and delivers online, classroom, and customized training programs, as well as software tools and applications, to support process-based management, learning and improvement in all types of organizations. Its training materials are written in numerous languages and its training methods are conducted through on-site sessions, via interactive CD (eFMEA), online and with the aid of process management software. For more information visit the company's website at

Based in Minneapolis, Minnesota, USA, Subjex Corporation is an innovative Artificial Intelligence Development Company. The products SubjexCSR and SubjexME facilitate meaningful text-based humanlike conversations with website visitors and students, while SubjexFMS forecasts the DJIA with a current accuracy of over 80%. For more information and to try the technology for free visit the website at or call 952-931-0501.

This news release contains "forward-looking statements" within the meaning of Section 27a of the Securities Acts of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct.

Contact Information

  • For more information contact:
    Subjex Corporation
    Andrew D. Hyder
    Email Contact

    MeritView Partners LLC
    William P. Bartkowski
    Email Contact