CAM Adds 6,000+ New Customers With MicroBiz Acquisition.Business Editors and High-Tech Writers FOUNTAIN VALLEY Fountain Valley, city (1990 pop. 53,691), Orange co., S Calif.; inc. 1957. Chiefly residential, Fountain Valley also has diverse manufactures, including apparel, computer equipment, semiconductors, and medical equipment. A U.S. navy helicopter facility is there. , Calif.--(BUSINESS WIRE)--Aug. 7, 2000 CAM Commerce Solutions (Nasdaq:CADA CADA Canadian Automobile Dealers Association CADA Capitol Area Development Authority CADA Canadian Alliance of Dance Artists CADA Central Area Development Association CADA California Association of Directors of Activities (Santa Cruz, CA) ) Monday announced that on Aug. 4 the company closed on an acquisition of 100 percent of the outstanding shares of MicroBiz Inc. of Mahwah, N.J. MicroBiz is a leading provider of Windows-based point-of-sale and inventory management systems for single store retailers. MicroBiz is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. , in business since 1985, with more than 6,000 customers who actively utilize its software. For its fiscal year ended June 30, 2000 MicroBiz realized revenues of $4 million. This reflected 25 percent top line growth over the prior fiscal year. "Rapidly increasing the size of our customer base has been one of our most important objectives," stated Geoff Knapp, 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 CAM Commerce Solutions. "When we raised $8 million through the recent private placement, MicroBiz was exactly the type of acquisition opportunity we were looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. in order to meet this objective. "They have the largest customer base we are aware of for single store retailers. With the addition of more than 6,000 new customers, the total number of retailers using CAM software products to manage their business will be over 10,000 with over 14,000 stores. "We intend to immediately incorporate our upcoming NDC NDC National Drug Code NDC NATO Defense College NDC National Documentation Centre (National Hellenic Research Foundation, Athens, Greece) NDC National Dairy Council NDC National Democratic Congress credit card processing option into the MicroBiz software along with similar initiatives that provide for recurring revenue opportunities. We plan to operate MicroBiz as a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , keeping its established brand intact, while sharing marketing and lead generation resources as well as realizing operating efficiencies. "Interestingly enough, although MicroBiz generated more than 10,000 sales leads through its marketing efforts last year, there was very little cross over with our own marketing efforts. This makes the MicroBiz acquisition that much more appealing to CAM." "For MicroBiz customers, this is a big win," stated Craig Aberle, president of MicroBiz. "CAM has conveyed their intent to fund additional product development efforts and to continue enhancing and supporting our primary products, along with providing our customers with new software options to better manage their business and take advantage of new sales channels. "MicroBiz customers who grow to multiple stores and/or who outgrow outgrow verb To change the relationship with a condition or structure by dint of ↑ age or size; while children outgrow clothing, and certain behaviors, they rarely outgrow diseases–eg, asthma the MicroBiz product will soon have the option of upgrading seamlessly to CAM's software platforms for multi-store retailers and larger single store retailers. Furthermore, MicroBiz customers and employees will benefit greatly from having the leading company in our industry behind MicroBiz products and services." About CAM Commerce Solutions CAM Commerce Solutions provides total commerce solutions for traditional as well as Web retailers that are based on the company's open architecture software products for managing inventory, point of sale, sales transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. and accounting. These solutions often include hardware, installation, training, service and consulting provided by the company. Visit CAM Commerce at www.camcommerce.com Important Information The statements made in this news release could be 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. based on expectations that involve a number of risks and uncertainties. The factors that could cause actual results to differ materially include the following: economic conditions; competitive factors and pricing pressures; changes in product mix; technological developments affecting the company's operations, market, products; and other factors discussed in the company's filings with the Securities and Exchange Commission. |
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