Aspeon Inc. Launches ASP Subsidiary and New Web site, Aspeon.com.Business Editors IRVINE, Calif.--(BUSINESS WIRE)--Feb. 2, 2000 Aspeon Inc. (Nasdaq:ASPE ASPE Assistant Secretary for Planning and Evaluation (US Department of Health and Human Services) ASPE American Society of Plumbing Engineers ASPE American Society for Precision Engineering ASPE Association of Standardized Patient Educators ), formerly Javelin Systems, today announced the launch of Aspeon Solutions Inc., 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. . Aspeon Solutions is the first &uot;Next Generation&uot; 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). ) focused on delivering mission-critical business applications customized to meet industry-specific needs. By offering a suite of pre-integrated applications for various business processes, Aspeon Solutions provides an intelligent approach to integration for companies seeking efficient, affordable access to application services See ASP and Web services. . While pursuing a niche segment marketing strategy, beginning with the foodservice industry, Aspeon Solutions now has the capabilities and expertise to address the needs of a variety of vertical markets. Aspeon provides companies and their supply chain partners with industry-specific financial, messaging, business intelligence, database, e-commerce and customer relationship management services as well as employee training and ongoing support and maintenance. &uot;We believe that the Internet and the ASP business model will transform the business software industry,&uot; said Richard Stack, president and chief executive officer of Aspeon. &uot;Over the last 18 months, we have built and optimized a significant ASP business. It currently generates more than $15 million in annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenues with more than $5 million in recurring re·cur intr.v. re·curred, re·cur·ring, re·curs 1. To happen, come up, or show up again or repeatedly. 2. To return to one's attention or memory. 3. To return in thought or discourse. software rental. &uot;With our aggressive move into markets beyond the foodservice niche, it is imperative that we decouple our ASP business from our legacy foodservice products business. We will continue to cross-sell our ASP offering into our large base of foodservice customers, but more importantly, we will be leveraging our business model horizontally to address the entire ASP customer base.&uot; By implementing Aspeon's industry-specific ASP model, companies are able to rapidly deploy a suite of mission-critical applications tailored to their particular business needs. Aspeon provides its customers with application hosting at its state-of-the-art data centers as well as a complete 24x7x365 support guarantee. Aspeon's ASP model enables customers to tightly control their IT-related costs through a simple guaranteed monthly subscription charge that includes network management and software updates. Recent industry estimates indicated that the market for ASP solutions is expected to grow from $890 million to more than $22.7 billion in revenues by 2003. The company recently announced an agreement with Xando Cosi, an East Coast restaurant chain with 20 locations, to provide an Oracle(tm)-based ASP solution to maximize the chain's access to critical point-of-sale and other financial data. &uot;With Aspeon Solutions we have access to a high-powered financial system and other network integration and service resources that we could not support on our own,&uot; said Charles Gray
Stack noted that the launch of the new subsidiary would require significant capital investment through early 2001 and that the Company is currently investigating strategic financing alternatives. About Aspeon Aspeon is a holding company currently composed of two subsidiaries, Aspeon Solutions Inc. and Javelin Systems Inc. Aspeon Solutions is the first &uot;Next Generation&uot; Application Service Provider (ASP) focused on delivering pre-integrated mission-critical business applications customized to meet industry-specific needs. Javelin Systems is the leading provider of integrated touchscreen See touch screen. computers and systems integration services to the global foodservice industry. The statements in this news release that relate to future financial results, future plans by the Company, customer contracts or financial performance by the Company are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to customer orders, demand for products and services, development of markets for the Company's products and services and other risks identified in the Company's SEC filings. The Company's actual results and performance may differ materially; therefore, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" . The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or after the date hereof or to reflect the occurrence of unanticipated events. |
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