Is it true you will discontinue zoho planner?

I received the following email:

Important Notice Regarding Your Zoho Planner Subscription

First and foremost, we want to thank you for being a Zoho Planner user.

From time to time we need to review our wide portfolio of services, and make sure they are performing to our, and our customers', expectations. As a result of that, we have decided to discontinue our Zoho Planner service.

We realize that as a current user, this change directly affects you today, which is why we wanted to inform you of this decision today before making it public. Though soon the product will be removed from our Zoho.com homage, you will still be able to access your data by logging in directly at planner.zoho.com.

Don't worry, Zoho Planner will remain online from now until December 31st, 2012. However, it will soon switch to a read-only mode. That should give you plenty of time to back up your data, as after that date we will erase everything related to Zoho Planner from our servers. For any product-related questions during this time, you can continue to contact us at support@zohoplanner.com, where we will be happy to help you.

Although Zoho Planner is going again, you should know that most of what you can do with it today, you can accomplish through a combination of other services, like ZohoCalendar, Zoho Wiki and Tasks (part of our Zoho Mail suite). So we certainly plan to keep you in the Zoho family!

We thank you for being our user and we're sorry we can no longer provide this service. At the same time, we're refocusing our efforts on some of our other Zoho applications, and we're very excited about what the future holds for them.

Sincerely,

The Zoho Team

How true is this? Thank you.

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