Building On Record Fourth Quarter Revenue, Mercator Names Roy C. King CEO; Expands Board of Directors, Launches Strategic Relationships.Business Editors WILTON, Conn.--(BUSINESS WIRE)--Jan. 16, 2001 Mercator(R) Software, Inc., (Nasdaq: MCTR MCTR Missile Technology Control Regime mCTR Murine Calcitonin Receptor MCTR Medical Center for Translational Research (Osaka University Hospital, Japan) MCTR Mackinac Transportation Company ), today named Roy C. King president 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. and a director of the company. Mercator also named Diane Baker a director and chairman of the board's audit committee. Additionally, a strategic alliance was announced with Mitsui Corporation, and key, vertical market demonstration centers established with Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. and Harvard Pilgrim Health Care. The announcements follow a fourth quarter 2000 from which Mercator expects to report revenue of at least $38 million, representing a minimum increase of 23% over the prior year and a sequential increase of not less than 18%. In the prior year's fourth quarter, Mercator had total revenue of $31 million. Additionally Mercator expects to have a year-end cash position totaling approximately $20 million. Mercator Chairman Jim Schadt said, "Our fourth quarter performance combined with these announcements not only puts us back on track but sets the stage for achievement of Mercator's intrinsic value Intrinsic Value 1. The value of a company or an asset based on an underlying perception of the value. 2. For call options, this is the difference between the underlying stock's price and the strike price. as the leading provider of technology-based integration solutions. The company will provide a complete perspective on the fourth quarter and results for the year 2000 on February 8. But today I can tell you we are investing in our new alliances and fully expect to see benefits from these arrangements over the course of 2001. Make no mistake - our new CEO, Roy King, supported by an expanded, highly experienced board, has the resources and strategy to grow our leadership position in the exploding global integration marketplace." Roy C. King Roy King is a former Milan-based IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) General Manager -- Consulting & Integration Services, Europe, Middle East and Africa. He brings 28 years of business leadership to Mercator, including experience in manufacturing, general consulting and the Internet. An IBM executive from 1993 to 2000, King most recently led a multi-billion dollar consulting and integration services business across a number of industries, verticals and offerings. He is credited with significantly improving business performance through initiatives including establishing industry verticals, leveraging technology offerings, developing new pricing policies, focusing software solutions, restructuring, and recruiting top-level talent throughout the organization. Prior to joining IBM, Mr. King was a partner of Booz Allen & Hamilton, Inc., and of KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen , LLP LLP - Lower Layer Protocol . He holds an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration from the Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. and a B.S. in engineering from Iowa State University Academics ISU is best known for its degree programs in science, engineering, and agriculture. ISU is also home of the world's first electronic digital computing device, the Atanasoff–Berry Computer. . Roy King said, "I am honored that the board of directors has asked me to lead Mercator to a significantly higher level. We have superior technology and personnel, and we boast a large roster of prestigious customers. The market is expanding dramatically, and, solidified so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. by a strong fourth quarter and significant new strategic relationships, we are positioned to take full advantage of this enormous opportunity. The outstanding men and women of Mercator have laid a foundation on which to build a great leadership company. The challenge is to speed execution in giving the market the products and services it demands - and which Mercator is uniquely capable of delivering." Diane Baker A former senior vice president and chief financial officer of The 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 Times Company, Ms. Baker held the same position at R.H. Macy & Company, and was a director, corporate finance at Salomon Brothers
Salomon Brothers was a Wall Street investment bank. . Ms. Baker brings substantial strategic financial management experience to Mercator. Her selection reflects Mercator's strategy to expand the scope and experience of its board of directors. Diane Baker said: "Financial management of a global technology company can be a complex and challenging task in today's rapid growth market environment. I am pleased to be part of Mercator. With its proven integration technology, large Fortune 1000 customer base and impressive management, Mercator has an excellent opportunity for future growth." Strategic Relationships Mitsui and Mercator will jointly market Mercator's E-Business Broker suite of integration products to the Japanese business-to-business market. The companies plan to incrementally spend $18 million on a combined marketing campaign for Japan between 2001 to 2003. In addition, Mitsui has made a direct private-placement equity investment in Mercator by purchasing stock totaling $2 million at prevailing market prices. Commenting on the deal, Mr. Kenichi Yamamoto Kenichi Yamamoto was a Japanese cross country skier who competed in the 1950s. He finished 22nd in the 18 km event at the 1952 Winter Olympics in Oslo.[1] References 1. ^ 18 km Olympic cross country results: 1948-52 , general manager of IT Solution Division Electronics and Business Information Group, Mitsui said, "Mitsui and Mercator are committed to extending our current relationship and building an expanded future together by delivering joint revenue, targeted to reach $45 million incrementally by 2003." Bank of New York, the world's largest Global Custodian, is using Mercator technology for its ISITC ISITC Industry Standardization for Institutional Trade Communication ISITC International Securities Association for Institutional Trade Communications 15022 (SWIFT 98) initiative to integrate critical information systems. Alan Goldstein, senior vice president of the Bank of New York said, "We have been using Mercator software for a number of years in critical integration projects and we have developed great confidence in the software. Mercator enables us to meet important business objectives." Harvard Pilgrim Health Care is using Mercator's Commerce Broker solution both to integrate its internal applications and systems, as well as to achieve full compliance with the federally mandated guidelines known as HIPAA (Health Insurance Portability & Accountability Act of 1996, Public Law 104-191) Also known as the "Kennedy-Kassebaum Act," this U.S. law protects employees' health insurance coverage when they change or lose their jobs (Title I) and provides standards for patient health, (The Health Insurance Portability Assurance Act). "Mercator's Commerce Broker is a key addition to our e-commerce solution," said Louis Gutierrez, chief information officer, Harvard Pilgrim Health Care. "It will help HPHC HPHC Harvard Pilgrim Health Care (Massachusetts) HPHC Hamburg Port Health Center (Germany) reduce the cost of becoming fully compliant with HIPAA in an accelerated timeframe, which is crucial to our bottom line." Summarizing the importance of the three strategic relationships, Mercator Chairman Jim Schadt said, "Mitsui, Bank of New York and Harvard Pilgrim Health Care represent key vertical and global markets in which we are competing aggressively. We look forward to giving you more detail about these activities at a future point in time." About Mercator Mercator software integrates electronic information throughout any business enterprise -- and with the applications of its customers and partners -- while leveraging current technology investments at every step. More than 5,000 customers, across every industry, use Mercator software to accelerate and manage their e-business opportunities. Over 100 partners, including application software providers, systems integrators and Net markets, embed or resell our technology to enhance their product or service offerings. Additional information about Mercator can be found at www.mercator.com. Mercator is a registered trademark of Mercator Software, Inc. Legal Notice Regarding Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Statements in this press release that are not purely historical are forward-looking statements, including statements regarding Mercator Software's beliefs, expectations, hopes or intentions regarding the future. Forward-looking statements in this release include, but are not limited to, statements regarding the growth of the enterprise application market, the demand for the company's application integration solutions and the speed of deployment of new products, including combined Mercator e-business integration broker products. It is important to note that actual outcomes and the company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as changes in demand for application integration or e-business integration software and the company's Mercator e-business integration broker suite of products in particular, the ability of the company to expand its international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. , the ability of the company to manage expanded global operations Global Operations is a first-person shooter computer game developed by Barking Dog Studios and published by both Crave Entertainment and Electronic Arts. It was released in March of 2002, following its public multiplayer beta version which contained only the Quebec map. , the ability of the company to continue to add resellers and other distribution channels, and the success of third parties in utilizing and marketing the company's products, the potential and success of any strategic alliance, the success of the company's strategy, or seasonality in operating results. Readers should also refer to the risk disclosures outlined in the company's reports filed with the Securities and Exchange Commission. All forward-looking statements and reasons why results might differ included in this release are made as of the date hereof, based on information available to the company as of the date hereof, and the company assumes no obligation to update any such forward-looking statement or reasons why results might differ. |
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