Auto Data Network Increases Presence in Dealer Management System Marketplace with Closure of Acquisition of MMI Automotive.Business Editors NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of & TUNBRIDGE WELLS, U.K.--(BUSINESS WIRE)--March 18, 2004 Acquisition is accretive to EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. and product offering and reinforces ADN's position in marketplace Auto Data Network Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : ADNW), a provider of software and real-time data services to the automotive industry, today announced the completion of its purchase of MMI-Automotive Limited (MMI (Man Machine Interface) See HMI. 1. MMI - Man-Machine Interface. 2. (company) MMI - The company which developed the first Programmable Array Logic devices. MMI was bought by AMD. ), a leading provider of business management and marketing systems for the United Kingdom and European automotive industry. MMI, founded in 1981, is a leader in Microsoft Windows(R) based dealer management systems (DMS (1) (Document Management System) See document management. (2) (Defense Messaging System) An X.500-compliant messaging system developed by the U.S. Dept. of Defense. ) and customer relations marketing systems (CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. ) for both automotive dealers and manufacturers. MMI's products include Automate DMS, a real-time dealer management system designed for automotive dealerships and dealer groups - endorsed by several major automobile manufacturers; Target CRM, a system to help dealerships, dealer groups and manufacturers generate more revenue through the strategic management of customer relationships; Target CCRM CCRM Colorado Center for Reproductive Medicine CCRM Constant Control Relay Module CCRM California Certified Residential Manager CCRM Continuous Cost-Risk Management CCRM Configuration Change and Release Management CCRM Citizens Coalition for Responsible Media , a centralized customer relationship management system for multi-site or multi-franchise dealers; and TimePro, a time recording and management system. MMI also offers design and consultancy services for dealer websites and product development. MMI's software provides a comprehensive dealer management system inclusive of vehicle and parts sales, inventory management, service management and records, accounting systems, as well as manufacturer links. Its fully integrated customer relations management system provides an information and marketing framework designed to maximize profitability, effectiveness and customer loyalty. Chris Glover, AND's Chairman, commented, "The acquisition of MMI builds on our strategy of acquiring profitable companies, with an established customer base, operating in the automotive vertical and that are accretive to our EPS as well as our product offering. Along with the earlier announcement of our acquisition of DCS (1) See also DSC. (2) Digital Cross-connect System) A network switching and grooming device used by telecom carriers. See digital cross-connect. Automotive, which is scheduled to close before the end of the second quarter, this acquisition will further establish ADN ADN Anchorage Daily News (Alaska newspaper) ADN Yemen (international vehicle registration) ADN Ácido Desoxirribonucleico ADN Acide Désoxyribonucléique (French: DNA) as one of the leading providers of software in this $15 billion marketplace". 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 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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