Auto Data Network's MAM Software Subsidiary Becomes Sole Recommended Supplier of Software and Data to One of Europe's Premier Aftermarket Groups.Business Editors/Automotive Writers TUNBRIDGE WELLS Tunbridge Wells: see Royal Tunbridge Wells, England. , UK--(BUSINESS WIRE)--May 12, 2004 ADN'S MAM Software takes lead role for Factoring Services Group, LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability Auto Data Network Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : ADNW), 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 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 that its subsidiary MAM Software has been appointed the sole recommended supplier of software and data to the Factoring Services Group Limited (FSG See Linux Foundation. ), a subsidiary of Alliance Automotive. Based in Skipton North Yorkshire North Yorkshire, county (1991 pop. 698,800), 3,209 sq mi (8,313 sq km), N England. The county comprises the districts of Craven, Hambleton, Harrogate, Richmondshire, Ryedale, Scarborough, Selby, and York. , England, FSG recently celebrated its 30th year in business. With over 400 members, they are one of the premier aftermarket groups in the UK. FSG is a member of the Group Auto Union, a European wide organisation that has a significant presence in the Aftermarket in virtually every European country. A key part of the relationship with FSG is the central invoicing system that MAM provides through its Autopart product, which it has built into a multi-million dollar business around its technology and continues to grow daily. Mike Jamieson, Managing Director of MAM Software, stated, "With nearly 60% of FSG members using MAM's Autopart products and services, the relationship has developed significantly over the last two years." 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 dealership's 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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