Since our inception, when we began developing our interior design software, 20-20 Technologies have expanded our business into various segments in both the residential and commercial markets and have expanded geographically into new markets around the world including the United States, Europe, Latin America and Asia Pacific.

In 1986, an early version of our interior design software was endorsed as the "industry standard" by a leading trade association. Since then, we have continued to develop our software and its applications, expanded our business and products and increased our market penetration around the world. We introduced our products in Europe in 1990 and in Asia Pacific and Latin America in 1992, and we established operating subsidiaries in these areas in 1990, 2000 and 2001 respectively.

Over the past several years, we have completed a number of strategic acquisitions. In the commercial interior design market segment, we acquired: Intellicon, Inc. of Jacksonville, Florida, a leading developer and supplier of space planning and specification software in October 2000; Facet, Inc. of Hollis, New Hampshire ("Facet"), the designer and distributor of the Giza software products, a leading computer-aided sales software, in February 2001; and the business of CAP, a division of The McGraw-Hill Companies, Inc. of Grand Rapids, Michigan, the leading space planning and specification software provider in North America, in June 2002. These strategic acquisitions have enabled us to become the leading provider of computer-aided design and sales software for the commercial and residential interior design markets and to establish a strategic location in Grand Rapids, Michigan (the North American capital of office furniture industry) for our operations in the commercial interior design market. In July 2002, we acquired SPI Software S.A. of France that complemented our product portfolio with a strong offering in CAE and MRP. We have successfully integrated these businesses into a single organization capable of offering end-to-end solutions for the interior design industry.