QAD to Acquire FullTilt Solutions’ Product
Suite
Product Information Management and Master Data Management Solution
Capabilities to Complement QAD’s Vision
SANTA BARBARA, Calif. (Business Wire EON) April 22, 2008 --
QAD Inc., (Nasdaq: QADI), a leading
provider of enterprise
software and services for global manufacturers, today announced it
has entered into a definitive agreement to acquire the assets of
FullTilt Solutions Inc., a Pennsylvania-based Product Information
Management (PIM) software developer. FullTilt’s
products include Perfect Product Suite, an enterprise PIM solution that
addresses the growing need for product-centric Master Data Management
(MDM) for Internet-enabled commerce.
While specific terms were not disclosed, the transaction will see the
complete FullTilt product suite move to QAD, who intends to continue
developing these products and to extend the suite as part of its
strategy to address the needs of customers in its core
vertical markets. The transaction is expected to close by the end of
April 2008.
QAD will also continue to deliver
services and support to existing users of FullTilt’s
products, effective immediately and without interruption. Bob Moyer,
co-founder and president, will lead the PIM Product Unit within QAD and
brings with him key employees of FullTilt.
PIM and MDM solutions help companies create a “single
view” of a product across their enterprise by
separately managing all data, processes, and trading relationships, both
internal and external, related to that product. QAD sees these
capabilities as integral to its continuing effort to bring its customers “Total
Enterprise Capability” in their IT systems.
“We are very pleased to welcome Bob Moyer and
his team to QAD,” said Pamela Lopker, founder
and president of QAD. “We believe that
FullTilt’s products represents the ‘state
of the art’ in the PIM and MDM market, and
the addition of Perfect Product Suite to our portfolio will allow QAD to
deliver a complete solution to customers in this important area. We see
these capabilities as critical in furthering our Vision for the Perfect
Lean Market.”
Perfect Product Suite has been built using an extensible
service-oriented architecture (SOA) targeting cross-function, end-to-end
business processes. It automates the internal and external data
synchronization processes necessary to ensure that product information
is accurate, relevant and dynamic within the enterprise and throughout
the supply chain.
“I am excited to have joined QAD and feel
that their focus on customers and commitment to the PIM and MDM markets
are strongly aligned with ours,” said Bob
Moyer. “I look forward to driving development
of the PIM solution and gaining new customers, as well as continuing to
grow relationships with existing FullTilt users.”
About FullTilt Solutions
FullTilt Solutions, Wayne, Pa., is a leading provider of enterprise Product
Information Management (PIM) solutions. FullTilt focuses on
providing solutions for the Consumer Packaged Goods, Retail,
Electronics, MRO and Life Sciences industries. FullTilt's flagship
product, Perfect
Product Suite™, automates, manages and
optimizes the business processes required for the complete and accurate
internal and external data synchronization necessary for perfect
Internet enabled commerce. FullTilt provides product centric Master Data
Management (MDM) for all vital product related attributes and
relationships throughout the enterprise and for all trading partners.
FullTilt provides data synchronization to GDSN certified data pools
including 1SYNC. Founded in 1987, FullTilt has been implementing
enterprise PIM solutions since 2001 at leading organizations. Further
information about FullTilt Solutions and its products is available at www.fulltiltsolutions.com.
About QAD
QAD is a leading provider of enterprise
applications for global manufacturing companies. QAD applications
provide critical functionality for managing manufacturing resources and
operations within and beyond the enterprise, enabling global
manufacturers to collaborate with their customers, suppliers and
partners to make and deliver the right product, at the right cost and at
the right time. Manufacturers of automotive, consumer products,
electronics, food and beverage, industrial and life science products use
QAD applications at approximately 6,100 licensed sites in more than 90
countries and in as many as 27 languages. For more information about
QAD, telephone +1 805 684 6614, or visit the QAD Web site at www.qad.com.
"QAD" is a registered trademark of QAD Inc. All other products or
company names herein may be trademarks of their respective owners.
Note to Investors: This press release contains certain forward-looking
statements made under the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. A number of risks and
uncertainties could cause actual results to differ materially from those
in the forward-looking statements. These risks include, but are not
limited to, evolving demand for the company's software products and
products that operate with the company's products; the company's ability
to sustain license and service demand; the company's ability to leverage
changes in technology; the company's ability to sustain customer renewal
rates at current levels; the publication of opinions by industry and
financial analysts about the company, its products and technology; the
reliability of estimates of transaction and integration costs and
benefits; the entry of new competitors or new offerings by existing
competitors and the associated announcement of new products and
technological advances by them; delays in localizing the company's
products for new or existing markets; the ability to recruit and retain
key personnel; delays in sales as a result of lengthy sales cycles;
changes in operating expenses, pricing, timing of new product releases,
the method of product distribution or product mix; timely and effective
integration of newly acquired businesses; general economic conditions;
exchange rate fluctuations; and, the global political environment. In
addition, revenue and earnings in the enterprise resource planning (ERP)
software industry are subject to fluctuations. Software license revenue,
in particular, is subject to variability with a significant proportion
of revenue earned in the last month of each quarter. Given the high
margins associated with license revenue, modest fluctuations can have a
substantial impact on net income. Investors should not use any one
quarter's results as a benchmark for future performance. For a more
detailed description of the risk factors associated with the company and
the industries in which it operates, please refer to the company's
Annual Report on Form 10-K for fiscal 2008 ended January 31, 2008.
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