Answerthink Acquires EzCommerce Global Solutions; Acquisition Expands Dual-Shore Implementation Strategy for SAP, Oracle.Business Editors/High-Tech Writers MIAMI--(BUSINESS WIRE)--May 11, 2004 Answerthink, Inc. (Nasdaq:ANSR ANSR Autonomous Naval Support Round ANSR Adaptive Network Solutions Research, Inc. ANSR Advanced Neutron Source Reactor ANSR Active No Swashplate Rotor (Army) ) today announced that it has closed the acquisition of EzCommerce Global Solutions, Inc, an implementation and development partner of SAP and EzCommerce (India) Limited (EzCommerce). The acquisition will enable Answerthink to move to a comprehensive dual-shore implementation strategy for its 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. business software, utilizing ERP implementation professionals that are part of EzCommerce's existing operation in San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. and Hyderabad, India. The acquisition of EzCommerce, which currently has over 100 professionals in the US and India, enhances Answerthink's skills in the following areas: -- ERP implementation, maintenance, and support capabilities. EzCommerce's current ERP practice will be integrated with Answerthink's existing SAP, Oracle, and PeopleSoft teams; -- Specialized skills in SAP NetWeaver, Business Warehousing, Enterprise Portals, CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. , and SRM (1) (Storage Resource Management) The management of the storage resources in an organization in order to avoid duplication of files and to determine space utilization across all servers. ; -- EzPharma(TM), a pre-configured SAP solution targeting the small to midsize businesses (SMB (1) (Small to Medium-sized Business) Also called "SME" (small to medium-sized enterprise), it refers to companies that are larger than the small office/home office (SOHO), but not huge. ) in the Life Sciences market, which Answerthink intends to bring to market; -- PharmaConnect(R), a rapidly deployable composite application In computing, the term composite application expresses a perspective of software engineering that defines an application built by combining multiple services. People often compare composite applications to mashups. based on SAP's NetWeaver platform, catering to the Pharmaceutical industry; -- EzCommerce(R) Suite, an SAP-certified application suite for business partner interaction Answerthink will train EzCommerce staff in the use of its Best Practices Implementation (BPI) tools and approach, which fully integrate the renowned business process best practices of The Hackett Group, an Answerthink company, into business transformation and enterprise software implementation services. "For some time now, we've been discussing the best way to expand our dual-shore implementation capabilities. With EzCommerce, we believe we've found the right combination of leadership, skills, and scale that we've been searching for," said Answerthink Chairman and 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. Ted A. Fernandez. "EzCommerce has an excellent track record in SAP and Oracle, two of our largest ERP practices, and talented staff both in the US and India. This acquisition will give clients still another reason to select us, as our new expanded dual-shore capabilities will enable us to be more responsive to their needs." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. EzCommerce's CEO Krishna Parimi, "We're very excited about becoming part of the Answerthink organization. Answerthink has established a unique value proposition using its Best Practices Implementation approach, and it also has the strategic access that will fully leverage our offshore resources." The Chesapeake Group served as an acquisition advisor to Answerthink. About Answerthink Answerthink, Inc. (www.answerthink.com) is a strategic business and technology consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a that enables companies to achieve world-class business performance. By leveraging the comprehensive database of The Hackett Group, the world's leading repository of enterprise best practice metrics and business process knowledge, Answerthink's business and technology solutions help clients significantly improve performance and maximize returns on technology investments. Answerthink's capabilities include benchmarking, business transformation, business applications, business intelligence, and offshore application maintenance and support. Founded in 1997, Answerthink has offices throughout the United States and in Europe. About The Hackett Group The Hackett Group (www.thehackettgroup.com), an Answerthink company, is a business advisory firm providing empirically based advice and best-practices research to executives seeking to drive world-class performance in areas such as finance, IT, human resources, and procurement. Hackett's functional and process-specific benchmarks and its confidential, on-demand, membership-based advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal are backed by an ongoing database of best practices in processes, technology, and organization in use at more than 2,400 clients around the globe. This unparalleled information repository allows Hackett business advisors to provide data, advice, and strategic insight with a level of integrity and authority available nowhere else. As of this writing, Hackett clients comprise 93 percent of the Dow Jones Industrials, 80 percent of the Fortune 100 and 94 percent of the Dow Jones Global Titans The Dow Jones Global Titans 50 Index was created to reflect the globalization of international blue chip securities in the wake of mergers and the creation of mega-corporations. Index. Certain statements in this press release are "forward looking statements'' within the meaning of 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 and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward looking statements. Factors that impact such forward looking statements include the ability of the Company to attract additional business, changes in expectations regarding the information technology industry, the ability of the Company to attract skilled employees, possible changes in collections of accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying , risks of competition, price and margin trends, changes in general economic conditions and interest rates as well as other risks detailed in the Company's reports filed with the Securities and Exchange Commission. |
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