Comshare Focuses Company on Core Strategy of Financial Management Applications; Company Sells Arthur Retail Products to JDA Software for $44 Million to Fuel Growth.ANN ARBOR Ann Arbor, city (1990 pop. 109,592), seat of Washtenaw co., S Mich., on the Huron River; inc. 1851. It is a research and educational center, with a large number of government and industrial research and development firms, many in high-technology fields such as , Mich.--(BUSINESS WIRE)--June 4, 1998--Comshare, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CSRE CSRE Comparative Studies in Race and Ethnicity CSRE Closed System Respirator Evaluator ), a leading supplier of financial analytic applications Analytic Applications are a type of business application software, used to measure and improve the performance of business operations. More specifically, Analytic Applications are a type of Business Intelligence solution. for management planning and control, announced today the sale of its Arthur(TM) strategic merchandise management applications for the retail industry to JDA Software JDA Software Group, Inc. is a demand and supply chain partner to the world’s leading retailers, manufacturers and suppliers and is located in Scottsdale, AZ. History Jim Armstrong, co-founded the U.S.-based JDA Software in 1985. Group, Inc. (NASDAQ: JDAS) for $44 million in cash. Comshare has refined its strategy to focus on financial applications for management planning and control. The sale of its Arthur retail products is the first step in implementing that strategy. JDA JDA Japan Defense Agency JDA Joint Development Agreement JDA Janne da Arc (band) JDA Joint Duty Assignment JDA Jerusalem Development Authority JDA Jovian Detention Authority (gaming) , an international provider of enterprise retail solutions, purchased the Arthur applications as part of the Company's strategy to build upon its integrated, enterprise retail solution with complementary products for JDA's worldwide clients. Comshare Sharpens Focus on Financial Applications Strategy Comshare's strength for many years has been to provide software that enables medium and large corporations around the world to better plan, analyze, and control their businesses. Comshare has been refining its strategic business plan since last fall. The sale of the Arthur business unit comes as a result of the Company's decision to focus on analytic applications designed to meet the needs of the financial management of medium and large corporations. "Comshare has many years of experience delivering solutions to CFOs, controllers, and financial analysts. That is Comshare's strength," said Dennis Ganster, 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. of Comshare. "To focus our resources, we decided to divest the segment of the business that did not fit the strategy, and to seek to acquire companies or products that are a complementary fit. The Arthur retail strategic merchandise management products simply did not fit our new strategy. As a result of the sale, Comshare is now well-positioned to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. marketplace opportunities." The sale is not only positive for Comshare, but also for JDA and Arthur customers. "JDA is the established market leader in delivering mission-critical transactional systems to retailers worldwide," stated Brent W. Lippman, CEO of JDA. "The acquisition enables us to build upon our enterprise solution with the market leading planning and decision support tools. We are committing significant resources to ensure a successful transition for Arthur clients and associates as we move forward with the excellent products, services and support that Comshare has provided up to now." Sale Provides Resources for Growth The sale of the Arthur products not only sharpens the focus of the Company, but also supplies an infusion of cash to fuel growth. "Another key point in our refined strategy is to enhance the company's financial applications product line via acquisitions," continued Ganster. "We intend to use the capital from the sale of the Arthur products to acquire businesses or products that complement our financial applications strategy. The goal is to broaden and deepen our capabilities to serve the financial management requirements of our broad base of customers and prospects, and fuel Comshare's growth." Conference Call Information The Company will host a conference call Friday, June 5, at 8:30 a.m. EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT to discuss the sale. The following telephone number can be used for anyone interested in participating: dial 1-212-896-6017, and ask for the Comshare conference call. Anyone interested in hearing a replay of the conference call can dial the following: 1-800-633-8284 for US callers; or 1-303-248-1201 for international callers. At the prompt, please enter the following code: 4346287. The replay will be available approximately one hour after the end of the live call through the close of business on Monday, June 8,1998. About JDA Software Group, Inc. JDA Software Group, Inc. (NASDAQ:JDAS) is a global provider of integrated retail software products and professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. for clients worldwide. Designed to Optimize the Retail Enterprise, JDA's solution addresses the requirements for the entire retail supply chain: from the corporate level with merchandising, financial, and data warehouse systems; to the distribution level with warehouse management and logistics systems; and finally to the store level with point-of-sale and back-office applications. Founded in 1985, JDA is headquartered in Phoenix, Arizona Phoenix /ˈfiːˌnɪks/ (English: Phoenix, Navajo: Hoozdo, lit. "the place is hot", Western Apache: Fiinigis) is the capital and the most populous city of the U.S. , and has operations in major cities throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. as well as international offices in Canada, the United Kingdom, France, Germany, Mexico, Brazil, Chile, South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. , Singapore, and Australia. JDA's Web site can be found at http://www.jda.com. About Comshare Comshare is a leading provider of financial applications for management planning and control, including financial consolidation and reporting, enterprise budgeting, and performance measurement. These complete client/server and Web-based analytic applications are based on an open architecture, utilizing market-leading databases, such as Microsoft SQL Server A relational DBMS from Microsoft that is a major component of the Windows Server System. It is Microsoft's high-end client/server database and is closely integrated with Microsoft Visual Studio and the Microsoft Office System. , Oracle, and Arbor Essbase. Comshare's applications incorporate innovative data visualization See information visualization. and Guided Analysis(TM) capabilities designed to improve decision-making for enhanced competitiveness and improved profitability. A strong customer orientation Customer orientation (CO) is the set of beliefs in sales that says that customer needs and satisfaction are the priority of an organization. It focuses on dynamic interactions between the organization and customers as well as competitors in the market and its internal stakeholders. , application expertise, and commitment to the best technologies have made Comshare one of the top 100 independent software companies, with customers around the world, many of which are Fortune 500 and Financial Times Top 1000 companies. Comshare, Inc. is a Microsoft Certified Solution Provider. For more information, call 1-800-922-7979, e-mail info@comshare.com, or visit Comshare's Web site at http://www.comshare.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Certain information in this press release contains "forward looking statements" within the meaning of the Securities Exchange Act of 1934, including those concerning the Company's future results, strategy and position to capitalize on marketplace opportunities. Actual results could differ materially from those in the forward looking statements due to a number of uncertainties, including, but not limited to, the demand for the Company's products and services; the size, timing and recognition of revenue from significant orders; increased competition; the Company's success in and expense associated with developing, introducing, acquiring, and shipping new products; new product introductions and announcements by the Company's competitors; changes in Company strategy; product life cycles; the cost and continued availability of third party software and technology incorporated into the Company's products; the impact of rapid technological advances, evolving industry standards and changes in customer requirements; the impact of recent transitional changes in North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. and international management and sales personnel; cancellations of maintenance and support agreements; software defects; variations in the amount and timing of cost savings anticipated to result from cost reduction actions; the impact of off-setting increases in operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. ; the impact of cost reduction actions on the Company's operations; fluctuations in foreign exchange rates; the impact of undetected errors or defects associated with Year 2000 date functions on the Company's current products and internal systems; risks inherent in seeking and consummating acquisitions, including the diversion of management attention to the assimilation of the operations and personnel of acquired businesses, the ability of the Company to successfully integrate acquired businesses and the impact on the company's results and financial condition from debt issued, liabilities acquired, and additional expenses incurred in connection with such acquisitions; the ability of the Company to generate sufficient future taxable income Under the federal tax law, gross income reduced by adjustments and allowable deductions. It is the income against which tax rates are applied to compute an individual or entity's tax liability. The essence of taxable income is the accrual of some gain, profit, or benefit to a taxpayer. or to execute available tax strategies required to realize deferred tax assets; and economic conditions generally or in specific industry segments. Comshare is a registered trademark. All other trademarks are the property of their respective holders.
CONTACT: Company Contacts:
Comshare, Inc.
Doug Hockstad, 734/994-6036
dhockstad@comshare.com
http://www.comshare.com/home2.htm
or
Eiler Communications
Larry Eiler, 734/761-3399
larry@eilerpr.com
or
Financial Communications Contact:
Lippert/Heilshorn & Associates, Inc.
Kris Otridge, 415/433-3777
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