KorTerra Inc. forms new company after spinoff from parent Vertical Systems Inc.


Minneapolis, MN, April 11, 2003 – KorTerra announced they have spun their division off from parent company Vertical Systems Inc. to become their own, separate corporation under the name KorTerra Inc.

The KorTerra product suite had its beginnings as a custom application that was created for a large, local utility company in 1990. The software was proprietary to that company until 1999 when Vertical Systems, Inc. acquired the rights to the software and started actively marketing the application as a packaged software solution to the damage prevention industry, known as the KorTerra product suite.

For the last 4 years, KorTerra has found much success marketing and developing their product for the utility markets. The division spin-off and creation of the new company will help the continuation of these focused efforts and allow KorTerra to re-invest into the development of their products for the utility and damage prevention industries.

“The split was very logical. Vertical Systems’ roots are in custom applications and KorTerra is a product solution. The split will allow KorTerra to focus all of its efforts and resources towards serving our target market and further developing our product”, said KorTerra, Inc. President, Chris Stendal, “Our entire team is excited about the new company and predicts future success as we move forward as a company with a single focus.”

The companies will remain co-located at their Eden Prairie, MN headquarters.

About KorTerra, Inc.
Since 1990, KorTerra, Inc. has developed mobile computing and workforce management solutions for the utility industry. They have worked with major utilities, contract locators and municipalities to develop a variety of Utility Workforce Management systems. The software effectively manages on-time response, management reporting, positive response, and keeps track of locating team performance in a real-time, mobile and paperless environment.

KorTerra also has ASP services; capabilities that allow KorTerra to host the software on their servers with customer access to the application via the internet. KorTerra software is currently used in 45 states by over 70 customers, and by 2,000 mobile locator technicians. Today, over 15,000,000 tickets are managed by the KorTerra application annually. To learn more about KorTerra and see what their customers are saying about the KorTerra product suite, go to www.korterra.com or contact via telephone at 952.934.7533.

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