CAM Adds 600 New Customers With Genesis Software 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)--Nov. 1, 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) ) Wednesday announced that on Nov. 1, a definitive agreement was signed to acquire the assets of Genesis Software Group Inc. of Sandwich, Ill. Genesis is a leading provider of point of sale and inventory management systems for paint and decorating products retailers. Genesis 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. , which has been in business since 1985 and has approximately 600 customers who actively utilize its software, 15% of which operate multiple locations. "Increasing the size of our customer base rapidly, along with gaining market share in key vertical markets continues to be 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. "Genesis has the largest customer base we are aware of for paint and decorating products retailers and was our primary competitor in this market. With the addition of over 600 new customers and many more store locations, the combined customer base of Genesis and CAM gives the company significant market share in this industry. The Genesis software, ` Workpro', is a DOS based software package. All Genesis customers will be offered a migration path to our CAM-32 product which is a Windows product featuring an open SQL SQL in full Structured Query Language. Computer programming language used for retrieving records or parts of records in databases and performing various calculations before displaying the results. database." "Our customers will gain the benefit of having the resources of CAM Commerce behind them along with a clear upgrade path to new technology if they desire it," stated Leonard DeFranco, President of Genesis. "CAM will continue to offer support to Workpro customers through the existing Genesis support staff so Genesis customers should see no interruption INTERRUPTION. The effect of some act or circumstance which stops the course of a prescription or act of limitation's. 2. Interruption of the use of a thing is natural or civil. or change in their ongoing service relationship with us. I see this as nothing but positive for our valued customers and we look forward to continuing our relationship with them as part of CAM." About CAM Commerce Solutions CAM Commerce Solutions Inc. (formally CAM Data Systems Inc.), 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. You can visit CAM Data at www.camdata.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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