ADP Dealer Services Agrees to Acquire Dealer Solutions;ADP Will Offer a Choice of UNIX and Client/Server Retail Solutions.HOFFMAN ESTATES, ILL.--(AutomotiveWire)--May 11, 1999-- The Dealer Services Group of Automatic Data Processing Same as data processing. , Inc. (ADP (1) (Automatic Data Processing) Synonymous with data processing (DP), electronic data processing (EDP) and information processing. (2) (Automatic Data Processing, Inc., Roseland, NJ, www.adp. (R) - NYSE NYSE See: New York Stock Exchange : AUD AUD In currencies, this is the abbreviation for the Australian Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) has signed a definitive agreement to acquire Dealer Solutions, Inc. (DSI (Dynamic Systems Initiative) An umbrella term for a suite of Microsoft products that help manage the Windows environment in large enterprises. DSI was introduced in 2003. ), the privately held Houston-based developer of client/server automobile dealership management software. The pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. transaction is subject to approval by DSI's stockholders. ADP's acquisition will be a key component of its ongoing strategy to deliver Windows NT(R) client/server solutions to the automotive retail market and to respond to manufacturer initiatives for web-enabled solutions. "ADP is investing in technology to ensure the dealers and manufacturers have a flexible, secure path to the solutions they need now and in the future," said Mike Martone, president, ADP Dealer Services. "We will continue to enhance our UNIX-based Elite(tm) products, ADP Elite Plus!(tm) and our client/server ADP Advisor applications. With the DSI team joining ADP, we will offer complete retail solutions on UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). and in a thin client/server environment on Windows NT(R)." "The agreement is a win for both companies," said Mike Castleman, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Dealer Solutions. "ADP has the expertise, infrastructure and market position to deliver this technology to a broad customer base." In 1996, ADP chose Compaq's (then Digital Equipment Corp's) AlphaServer(R), a flexible platform that supports ADP's strategy of providing UNIX applications on inexpensive video display terminals as well as client/server Windows NT(R) solutions. As the foundation for ADP's Millennia3(tm) hardware series, the AlphaServer remains the highest performance platform available to dealers. "Dealers benefit from this acquisition," said Carl Sewell, Chairman, Sewell Automotive Companies. "Introducing innovative solutions in our marketplace requires the strength of a market leader. Dealers will be able to choose the technology that is right for them, with the confidence that they will have the quality service and support that ADP has always provided," said Sewell. ADP Dealer Services Group is a leading provider of integrated computing solutions to automobile and truck manufacturers and more than 18,000 auto and truck dealers throughout the United States, Canada, Europe, Asia and Latin America. The Dealer Services Group is the third largest business unit of Automatic Data Processing, Inc. (NYSE: AUD). With more than $5 billion in annual revenue and more than 425,000 clients, ADP is one of the largest independent computing services firms in the world. This release contains "forward-looking statements" based on management's expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ from those expressed. Factors that could cause differences include: ADP's success in obtaining, retaining and selling additional services to clients; the pricing of products and services, overall economic trends, including interest rate and foreign currency trends; impact of Year 2000; stock market activity; auto sales Auto Sales The major producers of domestic automobiles report sales monthly. These numbers are seasonally adjusted by the U.S. Department of Commerce and are available to the public one to five business days after the end of each month. and related industry changes; employment levels; changes in technology; availability of skilled technical associates; and the impact of new acquisitions. ADP, Elite, ADP Elite Plus!, Millennia3 and ADP Advisor are registered or unregistered trademarks of Automatic Data Processing, Inc. All other trademarks or registered |
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