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Keynote Systems Acquires French-based Zandan and Solidifies Its Position as the Global Leader in On-Demand Mobile Test & Measurement Solutions


* Purchase for €2 Million, or Approximately US$3 Million, Inclusive of Shares, Debt Repayment and Estimated Restructuring Costs
* Zandan Contributes Important Customers, including Telefonica and Bouygues Telecom

SAN MATEO, Calif.— Keynote Systems (Nasdaq: KEYN), the global leader in on-demand mobile and Internet test & measurement solutions for continuously improving the online experience, today announced the acquisition of Zandan, a private, French-based software company.

In the transaction, Keynote 1) secured the exclusive rights to the technology used to develop Keynote Mobile Application Perspective® (MAP), which was originally licensed from Zandan in a non-exclusive OEM deal approximately three years ago; 2) gained access to the company’s small, but important customer base including Telefonica and Bouygues, the large Spanish and French wireless carriers; and 3) cemented Keynote’s position as the worldwide leader in mobile test & measurement software-as-a service (SaaS) solutions. The total purchase price is expected to be €2 Million, or approximately US$3 million, and includes the share purchase price, debt repayment and estimated restructuring costs, which are likely to be incurred over the next six months. The transaction is expected to be accretive on a non-GAAP basis in Keynote’s fiscal year 2009, which begins October 1, 2008. The company defines non-GAAP net income as net income adjusted for provision for income tax, stock-based compensation expense, and amortization of purchased intangibles less cash tax expense.

Zandan is a 14-person French-based software company, whose founder and former chief technology officer, Jerome Jacq, joined Keynote in 2007. Zandan supplies active end-to-end customer simulation solutions used across the entire mobile service life cycle from interactive testing, service & handset acceptance to live monitoring, alerting, troubleshooting and SLA management. Keynote MAP allows wireless operators and mobile content developers to interactively test, measure and monitor mobile content from 22 geographic locations worldwide utilizing a library of over 1,000 wireless device profiles.

Umang Gupta, chairman and CEO of Keynote, said “Our MAP service was implemented by us on the basis of Zandan code, and it has already found traction in the U.S. with many mobile customers. We now hope to repeat the same success in Europe with the help of the Zandan team. Our intent is to restructure the Zandan business in an orderly way over the coming six months and to rename it Keynote France. Thereafter , the company, which will be headed by Jerome Jacq, will have the mission of increasing our mobile and Internet business in France, Spain and adjoining countries.”


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