Base Ten Systems Acquires Consilium's Health Care & Process Business.TRENTON, N.J.--(BUSINESS WIRE)--Feb. 19, 1998-- Sharpened sharp·en tr. & intr.v. sharp·ened, sharp·en·ing, sharp·ens To make or become sharp or sharper. sharp Industry Focus for Each Base Ten Systems, Inc. (Nasdaq:BASEA BASEA Boston Area Solar Energy Association ) announced today that it entered into and closed a Definitive Purchase Agreement with Consilium, Inc. (Nasdaq:CSIM CSIM Community Sea Ice Model CSIM Cryogenic Systems Integration Model CSIM C-language-based Simulator CSIM Client Side Image Mapping ) under which Base Ten purchased the assets of Consilium's Health Care & Process business unit for a cash consideration of $1.5 million and the assumption of certain maintenance and warranty obligations. The transaction was approved by both Boards of Directors. Cowen & Co. advised Base Ten on the transaction. Base Ten 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. Thomas E. Gardner commented, "This is one of those unique situations in which we believe there is win-win benefit for the shareholders and customers of both companies. Base Ten gets an installed customer base and a UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). platform option for those customers preferring this footprint for their manufacturing execution system – Manufacturing execution system (MES) describes a set of integrated functions within a packaged software system or it can also describe the accumulated functionality within the production management infrastructure of a manufacturing or production company. . Consilium gets cash and the opportunity to regain a single-minded focus on the semiconductor industry in which they have historically been so successful." (a) Consilium CEO Laurence R. Hootnick said, "We are delighted that our Health Care & Process customer commitments will be transferred to a company focused on these industries, and one committed to high quality products and service. The Consilium organization can now comfortably turn its attention to serving the manufacturing systems needs of our semiconductor/electronic customers around the world." (a) Base Ten Systems is a leading independent supplier of enterprise-wide, integrated manufacturing execution systems (MES (Manufacturing Execution Software) Software that provides real time access to plant activities that include equipment, labor, orders and inventory. An MES integrates the data with enterprise resource planning (ERP) systems so that management has complete control of ) software and services to companies for manufacturers in FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. regulated industries. Consilium is the leading independent supplier of enterprise-wide, integrated manufacturing execution systems (MES) software and services to companies in the semiconductor industry. -0- (a) Forward Looking Statements The foregoing contains "forward looking information" within the meaning 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. Such forward looking statements may be identified by a letter a (a) or by such forward looking terminology as "may," "will," "believe," "anticipate," "expect," or similar words or variations thereof. Such forward looking statements involve certain significant risks and uncertainties. Important factors that the Company believes may cause actual results to differ materially from such forward looking statements are discussed in the "Risk Factors," "Business" and "MD&A" sections of the Company's current S-3 registration statements and annual and quarterly reports on file with the Securities and Exchange Commission. In assessing such forward looking statements you are urged to read carefully those reports and other filings. The Company does not undertake to publicly update or revise its forward looking statements even if experience or future changes indicate that any such results or event (expressed or implied) will not be realized. CONTACT: Base Ten Systems, Inc. William F. Hackett (609) 586-7010 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion