Electronic Retailing Systems International, Inc. Acquires Senior Discount Notes in Open Market.NORWALK, Conn.--(BUSINESS WIRE)--Nov. 8, 1999-- Electronic Retailing Systems International, Inc. ("ERS ERS, n.pr See extended rotated side-bent. ") (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:ERSI ERSI Environment Remote Sensing Institute ) today announced its purchases in the open market of $31,250,000 aggregate principal amount at maturity of its 13 1/4% Senior Discount Notes due February 1, 2004 (the "Senior Notes"). The aggregate purchase price to ERS for the acquired Senior Notes was $4,843,750. ERS stated that its Board of Directors had authorized purchases of Senior Notes in the open market, and that the amount and timing of any additional transactions will be dependent upon a number of factors, including the price and availability of the Senior Notes, general market conditions and competing alternative uses of funds, and may be discontinued at any time. ERS also announced that it had engaged Jefferies & Company, Inc. and BNY BNY Bank of New York Capital Markets, Inc. to advise it in connection with the development or consideration of other proposals relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the outstanding Senior Notes. ERS is a leading developer and supplier of electronic shelf labeling Electronic Shelf Label is a system used by Retailers for displaying price on shelves. Automating the price change process enhances in-store merchandising and store compliance. These features add up to increased sales and reduced overall operational costs. systems designed to improve retailer profitability. The ERS ShelfNet(R) system is designed to assist retailers in cost savings and pricing accuracy by using a wireless network to link a store's central computer both to its check-out scanner and to the ESLs that display pricing information at the shelf edge. With ShelfNet, this pricing information is updated automatically on the ESLs when prices in the point-of-sale (POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale ) scanner are changed. This provides price integrity between the shelf edge and the POS scanners. ShelfNet uses spread spectrum RF technology, which is the most widely used method of wireless communication in retail today. ShelfServer software, which can run on a variety of different operating systems Operating systems can be categorized by technology, ownership, licensing, working state, usage, and by many other characteristics. In practice, many of these groupings may overlap. , is the core of the system that provides price display, reporting and printing functionality. In addition, ShelfNet uses a suite of patented software applications designed to communicate merchandising, inventory and other information to and from store personnel in the aisle. These applications are designed to provide value-added benefits to retailers in the areas of shelf-edge merchandising, replenishment control, strategic pricing and shelf set compliance. This press release contains forward-looking statements that involve risks and uncertainties. ERS' actual results may vary from those anticipated due to a number of factors, including, without limitation, the timely availability and acceptance of new products, the rate of development of the emerging market for electronic shelf label systems, the impact of competitive products and pricing, the management of growth, and other factors set forth in reports and other documents filed by ERS with the Securities and Exchange Commission from time to time. |
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