-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QGdwEsPTvSmDMLnZGNr04Sv8uVh/NYNIu5osKDaTbqOqei5LQMX0BB/yyqppp0uC Jm4Tu0YM/jKC9kP+GHRe/w== 0000903423-01-000141.txt : 20010312 0000903423-01-000141.hdr.sgml : 20010312 ACCESSION NUMBER: 0000903423-01-000141 CONFORMED SUBMISSION TYPE: 425 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20010309 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: VIALOG CORP CENTRAL INDEX KEY: 0001016601 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 043305282 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 425 SEC ACT: SEC FILE NUMBER: 001-15527 FILM NUMBER: 1564215 BUSINESS ADDRESS: STREET 1: 32 CROSBY DR CITY: BEDFORD STATE: MA ZIP: 01730 BUSINESS PHONE: 9789753700 MAIL ADDRESS: STREET 1: 32 CROSBY DR CITY: BEDFORD STATE: MA ZIP: 01730 FORMER COMPANY: FORMER CONFORMED NAME: INTERPLAY CORP DATE OF NAME CHANGE: 19970117 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: GENESYS SA CENTRAL INDEX KEY: 0001125276 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 425 BUSINESS ADDRESS: STREET 1: 4 RUE JULES FERRY BP 1145 CITY: 34008 MONTPELLIER CE BUSINESS PHONE: 0113346706 MAIL ADDRESS: STREET 1: LE REGENT STREET 2: 4 RUE JULES FERRY BP 1145 CITY: 34008 MONTPELLIER CE 425 1 0001.txt Filed pursuant to Rule 425 Filing company: Genesys S.A. Subject company: Vialog Corporation Commission File Number: 333-55392 [The following slides were used to present Genesys' FY 2000 results in Paris on March 7, 2001] [Genesys Logo] Fiscal Year 2000 results March 7, 2001 [Genesys Logo] [Vialog Logo] - -------------------------------------------------------------------------------- Francois Legros Pierre Schwich Jim Huzell Kim Mayyasi Mike Savage Chairman & CEO EVP Finance COO CEO EVP Finance US SEC Filings Genesys has filed a registration statement on Form F-4 (No. 333-55392) with the United States Securities and Exchange Commission. The Form F-4 contains a proxy statement / prospectus relating to the Vialog special meeting and other related documents. Vialog has mailed the proxy statement/prospectus contained in the Form F-4 to its stockholders. The Form F-4 and proxy statement/prospectus contain important information about Genesys, Vialog, the Vialog transaction and related matters. Investors and stockholders should read the proxy statement/prospectus and the other documents filed with the US SEC in connection with the Vialog transaction carefully before they make any decision with respect to the Vialog transaction. A copy of the merger agreement with respect to the Vialog transaction has been filed by Vialog as an exhibit to its Form 8-K dated October 2, 2000. The Form F-4, the proxy statement/prospectus, the Form 8-K and all other documents filed with the US SEC in connection with the transaction are available free of charge at the US SEC's web site at www.sec.gov. In addition, the proxy statement/prospectus, the Form 8-K and all other documents filed with the US SEC in connection with the Vialog transaction will be made available to investors free of charge by calling or writing to: Genesys S.A. Pierre Schwich Chief Financial Officer 4 Rue Jules Ferry, BP 1145 34008 Montpellier, Cedex 1, France Phone: 33 4 67 06 27 55 Email: pierre.schwich@genesys.com Vialog Corporation Michael E. Savage Chief Financial Officer 32 Crosby Drive Bedford, MA 01730 Phone: 781-761-6200 Email: msavage@vialog.com In addition to the Form F-4, the proxy statement/prospectus and the other documents filed with the US SEC in connection with the Vialog transaction, Vialog is obligated to file annual, quarterly and special reports, proxy statements and other information with the US SEC. You may read and copy any reports, statements and other information filed with the US SEC at the US SEC's public reference rooms at 450 Fifth Street, N.W., Washington, D.C. 20549 or at the other public reference rooms in New York, New York and Chicago, Illinois. Please call the US SEC at 1-800-SEC-0330 for further information on public reference rooms. Filings with the US SEC also are available to the public from commercial document-retrieval services and at the web site maintained by the US SEC at http://www.sec.gov. Forward-Looking Statements This release contains statements that constitute forward looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are statements other than historical information or statements of current condition. These statements appear in a number of places in this release and include statements concerning the parties' intent, belief or current expectations regarding future events, including: the transactions to which the parties may be a party; competition in the industry; changing technology and future demand for products; changes in business strategy or development plans; ability to attract and retain qualified personnel; worldwide economic and business conditions; regulatory, legislative and judicial developments; financing plans; and trends affecting the parties' financial condition or results of operations. Forward looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those in the forward looking statements as a result of various factors. Although management of the parties believe that their expectations reflected in the forward looking statements are reasonable based on information currently available to them, they cannot assure you that the expectations will prove to have been correct. Accordingly, you should not place undue reliance on these forward looking statements. In any event, these statements speak only as of the date of this release. Except to the extent required by law, the parties undertake no obligation to revise or update any of them to reflect events or circumstances after the date of this release, or to reflect new information or the occurrence of unanticipated events. CONTENT 1. Year 2000 Highlights 2. Year 2000 Financials 3. Vialog Y2000 Highlights and Financials 4. Vialog & Astound Integration 5. Genesys Strategy and Outlook Francois LEGROS Genesys Conferencing Chairman & Chief Executive Officer Year 2000 Highlights YEAR 2000 HIGHLIGHTS o Strong growth o Proven integration ability in the US o Focus on margin improvement o Sustained international expansion o Confirmed technological leadership STRONG GROWTH o + 95% consolidated growth o + 44% internal growth o Significant global accounts have chosen Genesys for their conferencing needs o Video conferencing: + 174 % PROVEN INTEGRATION ABILITY IN THE US o Successful integration process of GCI [Graph showing the following data: Q2 99 Q4 00 - -------------------------------------------------------------------------------- EBITDA -12% +24% ] o Substantial savings o Deployment of automated services faster than expected : 20% of revenue in dec. 2000 22% of volume in dec. 2000 FOCUS ON MARGIN IMPROVEMENT o Gross margin improvement in each of the 3 regions : Europe + 68 % USA + 171 % Asia Pac + 150% o Confirm business model implying 35% EBITDA for each of the 3 regions SUSTAINED INTERNATIONAL EXPANSION o Norway, Denmark, Spain and Portugal : 4 new subsidiaries o Germany : acquisition of Time Communication Services. Genesys becomes #1 CSP in this country o Asia Pacific : acquisition of Telcen, Australian specialist in multi-point videoconferencing CONFIRMED TECHNOLOGICAL LEADERSHIP o Steady investment in R&D representing 5,5% of revenues* o Leverage strong Internet position and new technologies o Technological partnerships and acquisitions : Langages Virtuels + Cote&Com + Mediactiv Creation of the Group's virtual event communications unit. [Genesys Open Media Logo] *French GAAP NEW E-CONFERENCING SERVICES o The browser version of Multi Conference Manager to control conferences. [picture of Multi Conference Manager screen] o Powershare, a data/web conferencing service on the Internet. [Picture of Powershare screen] NEW E-CONFERENCING SERVICES o Powerstream, by [Genesys Open Media logo] [screen shots of selected Powerstream conferences] Pierre SCHWICH Genesys Conferencing Executive Vice President Finance - ------------------------------ Genesys Year 2000 results* * Non audited French GAAP accounts REVENUES: STRONG GROWTH [Bar chart showing the following data: (in millions of EUR) 1995 1996 1997 1998 1999 2000 Internal growth 3,8 5 6,9 18,1 28,8 90 External growth 8,1 0,9 18,6 2,4 92,4 M EUR+95% ] Y2000 REVENUES BREAKDOWN [Pie chart showing the following data: % Audio TLM 27 Attended 38 Unattended Reserved 12 Video 13 Internet 2 Others 8 ] Y2000 REVENUES BREAKDOWN PER REGION [Pie chart showing the following data Asia-Pac Europe USA - ----------------------------------- 5% 49% 46% ] P&L STATEMENT [Graph showing the following data: Impact of new Impact of 2000 M EUR 1999 2000 subsidiaries acquisitions After restatement - -------------------------------------------------------------------------------- Revenue 47.4 92,4 2,4 90 Gross Margin 26.6 54.3 0,9 53,4 56,1% 58,7% 59% EBITDA 7.1 12,2 -1,1 -1,7 15,0 15% 13,2% 16,7% EBIT 1.7 2,6 -1,3 -2,6 6,5 3,5% 2,8% 7,2% ] P&L STATEMENT [Graph showing the following data: M EUR 1999 2000 ----- ---- ---- EBIT 1.7 2,6 Financial income -1,9 2,9 EBT -0,4 5,5 Income taxes -0,3 2,1 Deferred taxes 4,2 Net Income -0,1 3,2 Before goodwill & deferred taxes Net Income -0.1 -0,9 Before goodwill Net Income -2.6 -6,4 After goodwill ] EUROPE GROSS MARGIN & EBITDA W/O CORPORATE & W/O ACQUISITION [Bar chart showing the following data: Consolidated S1 Consolidated S2 Consolidated S1 Consolidated S2 1999 1999 2000 2000 Gross margin: 65% 64% 70,2% 66,6% EBITDA: 40% 35% 42% 37% ] US GROSS MARGIN & EBITDA W/O CORPORATE [Bar chart showing the following data: Consolidated S1 Consolidated S2 Consolidated S1 Consolidated S2 1999 1999 2000 2000 Gross margin: 55% 42% 49,3% 53,4% EBITDA: 23% 13% 21,7% 23,5% ] ASIA-PAC GROSS MARGIN & EBITDA W/O CORPORATE [Bar chart showing the following data: Consolidated S1 Consolidated S2 Consolidated S1 Consolidated S2 1999 1999 2000 2000 Gross margin: 41% 44% 44% 46,5% EBITDA: -14% 2% 10% 15,5% ] BALANCE SHEET [Chart showing the following data: ASSETS LIABILITIES - --------------------- ------------------------------------------- Intangible assets 104,3 Equity 132,2 Tangible assets 19,0 Convertible bonds 11,0 Financial assets 6,1 Financial debts Long term 40 Short term 2,5 Debtors 34,2 Cash 49,9 Payables 27,8 - ------------------------------------------------------------------------- TOTAL 213,5 TOTAL 213,5 ] Kim MAYYASI [with photo of same] Vialog Chief Executive Officer - ------------------------------- Vialog Y2000 audited results FINANCIAL RESULTS o Revenue growth consistent with historical trends o Rapid adoption of automated services o Gross margins growing faster than revenues JANUARY 01 RESULTS [Chart showing the following data: January 01 January 00 % Increase ---------- ---------- ---------- Revenue $7.7M $6.1M 27% Gross Margin % 60% 53% EBITDA $2.3M $1.4M 68% EBITDA % 30% 22% ] VOLUME GROWTH o Minutes mm [Bar chart showing the following data: 3Q 99 4Q 99 1Q 00 2Q 00 3Q 00 4Q 00 - ------------------------------------------------------- 61.8 64.3 71.8 76.1 78.4 89.5 ] o % Volume Automated [Bar chart showing the following data: 3Q 99 4Q 99 1Q 00 2Q 00 3Q 00 4Q 00 - ------------------------------------------------------- 0% .8% 3.4% 7.3% 16.2% 8.5% ] REVENUE GROWTH [Bar chart showing the following data: (in $mm) 3Q 99 4Q 99 1Q 00 2Q 00 3Q 00 4Q 00 - ------------------------------------------------------- 17.0 17.7 19.2 19.4 19.2 19.8 ] GROSS MARGIN GROWTH [Bar chart showing the following data: 3Q 99 4Q 99 1Q 00 2Q 00 3Q 00 4Q 00 Jan. 01 - ------------------------------------------------------------------- 51% 54% 55% 56% 58% 56%* 60% *Excluding telcom adjustment. FINANCIAL RESULTS - EBITDA GROWTH [Chart showing the following data: 4Q 99 4Q 00 % Change ---------------------------------- Revenues $17.7M $19.8M +12% EBITDA* $3.2 $3.7* +17% ] *Excludes telcom and A/R reserve adjustment. THE VIALOG STORY o Streamlined company with expanding margins o New products that leverage automation o Building a global powerhouse with Genesys [arrow] Increased shareholder value FINANCIAL RESULTS - 4Q 00 o Revenue [Bar chart showing the following data: ($mm) 4Q 99 4Q 00 - ---------------- 17.7 19.8 ] o EBITDA [Bar chart showing the following data: ($mm) 4Q 99 4Q 00* - ---------------- 3.2 3.7 ] *Excludes telcom and A/R reserve adjustment. NET CASH INCOME - 4Q 00 [Chart showing the following data: 4Q 00 Jan. 01 - ------------------------------------------------------- Net cash income $198,000 $1,341,000 - ------------------------------------------------------- Net cash income per share .02 .14 ] FINANCIAL RESULTS: 2000 o Revenue [Bar chart showing the following data: ($mm) 99 00 - -- -- 68.6 77.6 ] o EBITDA [Bar chart showing the following data: ($mm) 99 00 - -- -- 9.8 15.0 ] Jim Huzell [with photo of same] Genesys Conferencing Chief Operating Officer - ---------------------- The integration of Astound & Vialog UPDATE ON VIALOG & ASTOUND INTEGRATION o Creation of 12 Integration Committees, composed staff from the 3 companies o Process started in November 2000 o New company organization ready to be implemented on the day of the acquisition NORTH AMERICAN ORGANISATION [Tree structure showing the following data: Kim Mayyasi CEO [text in orange] Margie Medalle COO Kevin Fletcher 6 General Managers Mike Savage CFO Call/Operational SVP Business Affairs Centers [text in orange] [text in orange] Bill Beaton Lynne Ross Jim Lysinger Dir HR Customer Support VP Sales [text in orange] Tim Wright TBD Richard Turcott Training & Quality Infrastructure VP Marketing [text in orange] [text in orange] Tony Terranova VP Product Mgmt. [text in orange] ] Orange colour indicates manager from Vialog DEVELOPING SALES OPPORTUNITIES North America 170 sales [Bar chart showing the following data: Astound 26 Hiring. 30 Genesys 50 Vialog 70 o Ramp up of sales force o Training plans o Harmonization of pricing o Identification of global opportunities INTEGRATION OF SERVICE OFFERING o Astound* and Vialog to operate under a single brand: Genesys Conferencing o All Vialog services to be renamed or migrated to Genesys Conferencing services (e.g: Telemeeting) o Integration of [WebConferencing.com logo] into [Conferecing.com logo] *Except for other CSP outsourcing agreements HARMONIZATION OF NETWORK INFRASTRUCTURES o Migration of all Vialog and Astound employees to the Genesys VPN, effective end of March o Substantial savings on carrier costs, MIS and HR STRONG SYNERGIES o $5M cash savings within the first year o For Vialog & Astound: - Deployment of Genesys' complete range of services - Global presence o For Genesys: Access to the biggest NA companies, clients of Vialog Mastering of Astound technology Entry in Canada o For the combined entity: - Critical size, market impact. #1 in the US - Market initiative and recognition - Technological leadership THE VIALOG AND ASTOUND INTEGRATION o Strong willingness o Operational day one o Strong management ENHANCED RESEARCH & DEVELOPMENT CAPABILITIES o Arrival of Kailash Ambwani, ex CEO Astound o Astound (best web conferencing service)* o Reinforcement of R&D resources : Teams in Montpellier, Paris, Toronto, San Francisco, London. R&D will represent 3% of revenue in 2001 o Additional capabilities and expertise to integrate technologies and develop new services. *Research company CNET, February 2001 Francois LEGROS [with photo of same] Genesys Conferencing Chairman & Chief Executive Officer - ----------------------------------- Year 2001 strategy & outlook YEAR 2001 FOCUS o Complete the integration of Vialog and Astound o Leverage on organic growth to improve margins VIALOG: A STRATEGIC ACQUISITION o The combined entity become #1 independent specialist in the United States o Reinforcement of our global presence and offering o Client base doubled: a strong foundation for future growth [arrow] Genesys becomes #1 specialist in USA ASTOUND: A TECHNOLOGICAL STEP FORWARD o Direct control of one of the most innovative technologies: Web conferencing o Integration of R&D teams o Development of new expertise and synergies [arrow] Reinforcement of Genesys technological leadership LEVERAGE ON ORGANIC GROWTH TO IMPROVE MARGINS [Map background with bar charts geographically situated and showing the following data: North America 170 Sales Astound 26 Recrut. 30 Genesys 50 Vialog 70 Europe 60 sales 60 Asia-Pacific 30 sales 30 ] 16,000 clients in 16 countries LEVERAGE ON ORGANIC GROWTH TO IMPROVE MARGINS o Second largest sales force o Pursue deployment of automated services o Win global accounts o Deploy new services to the 16,000 clients through 16 countries INVESTMENT HIGHLIGHTS o #1 CSP: Geographical coverage in 16 countries Sales force of 250 people 16 000 clients o Technological leadership Mastering of all conferencing technologies o Strong growth and margin improvement o Fully funded company [arrow] Ideally positioned to dominate the market [Genesys Conferencing logo] Leading the world to virtual group communications -----END PRIVACY-ENHANCED MESSAGE-----