Aftersoft's, MAM Software Announces Launch of Autonet (an Advanced Electronic Trading Solution).NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of & TUNBRIDGE WELLS Tunbridge Wells: see Royal Tunbridge Wells, England. , England -- Auto Data Network (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Pink Sheets: ADNW.PK), a provider of software and real-time data Real-time data denotes information that is delivered immediately after collection. There is no delay in the timeliness of the information provided. Some uses of this term confuse it with the term dynamic data. services to the worldwide automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. today announced the launch of Autonet, an advanced electronic trading Please help recruit one or [ improve this article] yourself. See the talk page for details. solution for aftermarket businesses, by Aftersoft subsidiary, MAM Software Ltd. Aftersoft is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Auto Data Network Inc., which recently signed an acquisition agreement to vend Aftersoft into W3 Group Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : WWWT WWWT World Wide War on Terror WWWT What's Wrong with That? .OB), Aftersoft is a leading supplier of ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. Supply Chain management solutions to parts manufacturers, distributors and retailers Developed in response to feedback from customers and key industry players, Autonet units a number of MAM's existing e-commerce salutations under a single unified brand. It's a suite of applications and solutions that enables online connectivity between the back-end systems of trading partners of the automotive aftermarket. "Autonet combines and enhances the various separate solutions we're already providing" said Mike Jamieson, Managing Director of MAM Software. "Since early 2000, we've been working with a number of industry suppliers to provide stable e-commerce solutions for our customers. These applications are now being unified under the Autonet brand to strengthen our presence and demonstrate our commitment to developing connectivity solutions for the aftermarket". Autonet accelerates the communication of business transactions between supply chain members, in many instances providing real-time access to stock and price information. With support for all major e-commerce protocols, Autonet simplifies the process of electronic trading by providing a single route for multiple transaction standards. "Importantly, Autonet is designed to work with - not replace - existing e-commerce standards" explains Jamieson. "Using Microsoft web services, businesses connect seamlessly with Autonet using standard XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. message sets. Where required, Autonet translates these messages into the relevant e-commerce protocols and transmits them to the appropriate trading partners." Autonet's inherent flexibility enables partners throughout the supply to connect and trade electronically. "Autonet encompasses a number of applications and solutions" explained Jamieson. "It offers connectivity for all participants including suppliers, factors, retailers, workshops and consumers. It can also provide central data processing capability to trading groups servicing national accounts." MAM Software also announced that the warehouse distributor, FPS (Frames Per Second) The measurement of full-motion video performance. See frame. fps - frames per second , will link directly into the Autonet product. Neil Davis, Finance Director of FPS commented, "We are keen to offer our customers the ability to trade electronically with us. Autonet will give them instant access to stock availability and pricing information and the ability to order on line. As a major supplier of systems to our customer base we are very excited to be able to offer such a direct link to MAM users". Development work for the direct link has already commenced and it is currently scheduled for an Autumn release. As previously announced in July, In line with the Company's previously announced strategy of separating its aftermarket business from its dealership management business and obtain individual public listing for each business unit, it has agreed to acquire W3 Group Inc (OTCBB :WWWT.OB). in which the Company intends to contribute all the assets of Aftersoft in return for 32,500,000 shares and complete the spin-off in the form of a tax-free stock dividend to shareholders of record .65 to 1 exchange (65 shares of Aftersoft for every 100 shares of ADNW), which is to be effective following Auto Data Network shareholder and Board of Directors' approval. Upon closing of the acquisition agreement, W3 Group Inc will change its name to Aftersoft Group Inc. and Aftersoft Group's management will replace the officers of W3 Group Inc on the board of directors. This transaction is expected to close during September. About Auto Data Network Auto Data Network is a group of established companies which provide software products and services to the automotive industry. The company's main customer base is the auto dealership marketplace. This marketplace consists of approximately 78,000 dealers in North America and 92,000 dealers in Europe. The company estimates that this represents a $15 billion market for Software and Services specifically for auto dealerships. The company supplies a suite of software solutions and services that enable dealerships to run their businesses more efficiently whilst achieving considerable cost savings. The majority of the company's current solutions are focused on serving the aftermarket and finance areas of dealerships. These areas are of particular importance as the aftermarket business is responsible for 48% of a dealerships profit from 12% of their overall revenue. The second most profitable area is vehicle finance and insurance this area contributes 35% of profits from 2% of revenues. This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the Company's business including increased competition; the ability of the Company to expand its operations through either acquisitions or internal growth, to attract and retain qualified professionals, and to expand commercial relationships; technological obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. ; general economic conditions; and other risks detailed time to time in the Company's filings with the Securities and Exchange Commission (SEC). |
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