Auto Data Network Announces Additional Appointments to Its Strategic Advisory Board.Business Editors TUNBRIDGE WELLS Tunbridge Wells: see Royal Tunbridge Wells, England. , UK--(BUSINESS WIRE)--Sept. 5, 2003 Auto Data Network Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : ADNW) "These appointments provide extensive strategic planning, operations, mergers and acquisitions experience as the Company completes preparations for its planned U.S. expansion." Auto Data Network Inc. (OTCBB: ADNW) a provider of software and real-time data services to the automotive industry, today announced the appointments of Mr. Chuck McArthur and Mr. Christopher D. Allen to its Strategic Advisory Board. Chuck is formerly the President and COO of ViewSonic Corporation where, within two years, he increased sales by over 70% to $1.4 billion. In doing so Chuck transformed ViewSonic into the largest supplier of computer displays in North America. Chuck has held senior positions at leading U.S. businesses, including Nokia Corp. (NYSE NYSE See: New York Stock Exchange : NOK NOK In currencies, this is the abbreviation for the Norwegian Krone. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) and MAG Technology USA where he specialized in strategic planning and mergers and acquisitions. In the course of his career Chuck has raised over $100 million of private equity capital. He is a graduate of California State University Enrollment Christopher Allen brings more than ten years of senior experience with U.S. capital markets, including extensive experience in Mergers & Acquisitions. He has been a senior consultant to the portfolio companies of several prominent private equity firms. Most recently, Chris was a Vice President at Trenwith Securities, the investment banking arm of BDO Seidman, LLP LLP - Lower Layer Protocol -- the nation's fifth largest accounting firm, where he was in charge of corporate finance, mergers and acquisitions and restructuring transactions. Prior to this, Chris held a position with Citicorp Venture Capital helping complete up to eighteen management buyouts a year at up to $1 billion in size. Mr. Allen is a graduate of Harvard University and holds a law degree from New York University School of Law The New York University School of Law (NYU Law) is the law school of New York University. Established in 1835, the school offers the J.D., LL.M., and J.S.D. . Commenting on his appointment Christopher said, "I believe that ADN ADN Anchorage Daily News (Alaska newspaper) ADN Yemen (international vehicle registration) ADN Ácido Desoxirribonucleico ADN Acide Désoxyribonucléique (French: DNA) has strong potential for growth and I hope that my experience structuring and completing transactions will benefit the company as it seeks to position itself as a leader in the automotive market." "Chuck has a proven track record of planning and executing growth strategies which will prove invaluable as we consolidate our product offering in the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. market," commented Chris Glover, 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. of Auto Data Network. "Chris' experience structuring mergers and acquisitions will be a great asset to the company as it seeks to expand in the North American and European markets. We are very pleased that Chuck and Chris have joined our Strategic Advisory Board." Commenting on his appointment Chuck McArthur said, "I relish this opportunity. I believe that my experience in corporate planning will assist company as it seeks to firmly establish itself in the world's largest automotive market." 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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