AremisSoft Reinforces Hospitality Business Momentum with InternetINNS.com Partnership.Business Editors NEW YORK--(BUSINESS WIRE)--Feb. 14, 2001 AremisSoft Corporation (Nasdaq:AREM AREM All-Random Easy Mode (gaming, Dota Allstars) AREM Avian Richness Evaluation Method ) an international supplier of enterprise-wide software and Internet-enabled solutions for the manufacturing, hospitality, healthcare and construction industries, today announced an important new business partner relationship in the US. This development demonstrates the potential business opportunities arising from the new worldwide AremisSoft Hospitality division formed subsequent to the 2000 acquisition of the "Eltrax Hospitality" business. In addition, it demonstrates the market acceptance of the new advanced technology AREMIS Hotel system. AremisSoft partnership with InternetINNS.com AremisSoft has entered into a business partnership with InternetINNS.com, one of the world's first Internet-based global hospitality brand franchise companies. InternetINNS.com has developed an attractive package of franchise services and marketing programs designed to draw patrons to stay at InternetInn.com branded properties. One of the key features of the InternetINNS.com value equation is a very cost effective franchise fee for hoteliers, which includes all hospitality information systems and related applications. AremisSoft is proud to be the exclusive information technology systems provider to InternetINNS.com. AremisSoft will provide member hotels with an enterprise wide solution that includes a remote services-Application Service Provider (ASP asp, popular name for several species of viper, one of which, the European asp (Vipera aspis), is native to S Europe. It is also a name for the Egyptian cobra (Naja haja). )-based version of the AREMIS Hotel system. This ASP solution will be coupled to the AREMIS Central Reservation central reservation Noun Brit & NZ the strip that separates the two sides of a motorway or dual carriageway central reservation n (BRIT) (AUT) → mediana System and Web Booking Engine. This will allow visitors to the InternetINNS.com web site to book and confirm hotel rooms online using the actual information on room inventory and rates. In addition, member hotels will be able to analyze their occupancy information with the AremisSoft AREMIS eBis data warehouse solution. All of this technology will be available through a remote browser browser Software that allows a computer user to find and view information on the Internet. The first text-based browser for the World Wide Web became available in 1991; Web use expanded rapidly after the release in 1993 of a browser called Mosaic, which used based interface, as a bundled part of the InternetINNS.com franchising fee. John Picardi, President of AremisSoft US Hospitality, stated, "We are excited to be part of what we believe to be the industry's first web-enabled end-to-end solution (jargon) end-to-end solution - (E2ES) A term that suggests that the supplier of an application program or system will provide all the hardware and/or software components and resouces to meet the customer's requirement and no other supplier need be involved. Compare: turn-key solution. . We feel that InternetINNS.com has specified a technology platform that will define hospitality technology for the future. We are proud that InternetINNS.com reviewed and selected our products as the exclusive foundation of this new exciting venture. The ASP solution offers excellent value for hotels that have been targeted for membership by InternetINNs.com. These hotels do not have the on site resources to acquire and manage sophisticated hospitality information systems technology. With the InternetINNS.com solution they will get the absolute latest technology delivered via the Internet as part of their monthly franchise fee." InternetINNS.com recently announced its franchise program and marketing strategy, which is designed to appeal to many independent as well as chain hotel owners as an innovative, cost effective and flexible marketing-brand loyalty alternative. The Company anticipates that many of its members will be hotels owned by independent owner-operators. InternetINNS.com has planned an aggressive nationwide marketing and expansion program which is well served by the AremisSoft Internet remote ASP offering. David C Littlefield, 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 InternetINNS.com, commented, "We believe that we offer the industry a truly unique value proposition that leverages technology and our many years of hospitality experience serving the needs of hoteliers nationwide. The AremisSoft integrated set of information system solutions represents an ideal platform to support our members. The AremisSoft people have been great to work with. They have been extremely responsive to our functional and operational requirements (programming) operational requirements - Qualitative and quantitative parameters that specify the desired capabilities of a system and serve as a basis for determining the operational effectiveness and suitability of a system prior to deployment. ." About InternetINNS.com InternetINNS.com is an innovative Internet franchise branding company that is leading lodging Lodging or holiday accommodation is a type of accommodation. People who travel and stay away from home for more than a day need lodging mainly for sleeping. Other purposes are safety, shelter from cold and rain, having a place to store luggage and being able to take a facilities to new heights in profitability. InternetINNS.com generates reservations directly from the guest to its member properties via the Internet while providing our facilities with affordable and easy to implement High-Tech property management solutions. As an Internet-based global hospitality brand franchise company, InternetINNS.com is the first to unite two concepts -- technology and hospitality -- through the Internet. With this combination, InternetINNS.com maximizes hospitality revenues for its franchise members while providing guests with diversified diversified (di·verˑ·s lodging opportunities and added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
n. pl. a·men·i·ties 1. The quality of being pleasant or attractive; agreeableness. 2. Something that contributes to physical or material comfort. 3. features. InternetINNS.com promotes its Internet Brand Identification Package to guests while offering members a cost-effective alternative to traditional franchising. More information about InternetINNS.com, a full service franchise company, can be found at the Company's corporate site www.franchisedinns.com. About AREMIS AREMIS has been designed for today's global hotel market and provides a state-of-the-art PMS (Pantone Matching System) A color matching system that has a unique number assigned to more than 500 different colors and shades. This standard for the printing industry has been built into many graphics and desktop publishing programs to ensure color accuracy. and CRS CRS Course CRS Certified Residential Specialist (real estate certification) CRS Central Reservation System CRS Can't Remember Stuff (polite form) CRS Cost Reduction Strategy CRS Consumer Relations Specialist system, based on Microsoft(R) Windows with unique features such as full multi-currency, foreign language support, state-of-the-art-graphics, touch screen technology, on-line back-up, and `Walkabout' technology. AREMIS has a centralised Adj. 1. centralised - drawn toward a center or brought under the control of a central authority; "centralized control of emergency relief efforts"; "centralized government" centralized Customer Management System (CMS (1) See content management system and color management system. (2) (Conversational Monitor System) Software that provides interactive communications for IBM's VM operating system. ) for hotel chains, providing a Centralised Reservation System (CRS) and Data Warehousing See data warehouse. data warehousing - data warehouse options. AREMIS also supports a centralised Internet/GDS server for remote bookings. About AremisSoft Corporation AremisSoft develops, markets, implements and supports enterprise-wide applications software targeted at mid-sized organizations in the manufacturing, healthcare, hospitality and construction industries. The Company's software products help streamline and enhance an organization's ability to manage and execute mission-critical functions such as accounting, purchasing, manufacturing, customer service and sales and marketing. AremisSoft reported total revenue of $73.4 million for the twelve months ended December 31, 1999 and net income of $12.1 million before extraordinary gains for the same period. AremisSoft has approximately 885 employees, with sales in over 20 countries and a customer base in excess of 7,200. The Company also operates a software development and support facility in India, with over 325 employees, which provides significant organizational efficiencies and cost advantages in software development and support. Cautionary Statement for Purposes of the "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Provisions 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: All statements, other than historical facts, included in the foregoing press release regarding the Company's financial position, business strategy, and plans of management for future operations are "forward looking statements." These statements are based on management's beliefs and assumptions, and on information currently available to management. Forward looking statements include, but are not limited to, statements in which words such as "expect," "see," "anticipate," "intend," "plan," "believe," "estimate," "consider," or similar expressions are used. Forward looking statements are not guarantees of future performance. They involve risks, uncertainties, and assumptions, including risks discussed under "Risk Factors" in the Company's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , SEC File No. 0-25713, all of which are incorporated herein by reference. The Company's actual results and stockholder values may differ materially from those anticipated or expressed in these forward looking statements. Many of the factors that will determine these results and values are beyond the Company's ability to control or predict. Readers of this press release are cautioned not to put undue reliance on any forward looking statement. The Company undertakes no obligation to publicly update these forward looking statements, whether as a result of new information, future events or otherwise. |
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