Bay Logics Inc. Announces Completion of Merger With Corporate Realty Partners.SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden and SAN DIEGO--(BUSINESS WIRE)--Sept. 20, 1999-- Real estate asset management software developer Bay Logics Inc. announced today the completion of its merger with San Diego-based Corporate Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Partners Inc. and the completion of a re-capitalization plan. Both companies will now operate under the name Bay Logics in what they believe to be a strategic alliance that will strengthen the core service of Bay Logics and allow it to move forward as the industry segment leader in both product development and service to existing and potential clients. Bay Logics products assist key corporate real estate managers make business-critical real estate asset management decisions expediently ex·pe·di·ent adj. 1. Appropriate to a purpose. 2. a. Serving to promote one's interest: was merciful only when mercy was expedient. b. and cost effectively. Now, the company adds crucial industry-related expertise to the leading asset management software application for enterprise, work group and Web-based environments. "Since the intention of this merger was first announced, we have made great strides in the rededication Noun 1. rededication - a new dedication; "the rededication of the Temple of Jerusalem" dedication - a ceremony in which something (as a building) is dedicated to some goal or purpose of Bay Logics to providing 'leading edge' and 'Best-of-Class' products to the corporate real estate industry," said Sam Borgese, president and chief executive officer of the merged companies. "The synergy The enhanced result of two or more people, groups or organizations working together. In other words, one and one equals three! It comes from the Greek "synergia," which means joint work and cooperative action. of the merger will provide our current and future clients with corporate real estate expertise, thereby strengthening our existing products and services, which are already second to none." As a result of this synergy, Borgese added, Bay Logics will soon announce its new product vision. Bay Logics' proprietary software systems, SiteSeer(TM) and Domain C/S See client/server. (TM), enable corporate real estate management in industry-specific settings, including retail, health care, telecommunications and office/industrial, to make informed, business-critical real estate and core asset decisions. And both are Y2K compliant Capable of correctly processing any data that deals with a date beyond the year 1999. See Y2K problem. to ensure a smooth transition into the 21st century. Peterson Ventures will continue its support of Bay Logics Inc. and its future growth and development. Peterson Ventures Inc., a private equity investment firm with offices in Salt Lake City and Dallas, is a majority shareholder in Bay Logics. Peterson's portfolio consists of 20 companies in diversified industries across the country. For additional information, please call Sam Borgese at 858/755-1325 or 415/884-3600. Or visit the corporate Web site at www.baylogics.com. |
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