PeopleSoft and Red Pepper Software Complete Merger.PLEASANTON, Calif.--(BUSINESS WIRE)--Oct. 16, 1996--PeopleSoft, 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 : PSFT PSFT PeopleSoft (stock symbol) PSFT Progressive Saturation Fourier Transform PSFT Prosoft-Technology, Inc ), a leading worldwide provider of client/server business software, and Red Pepper Software, a leading provider of manufacturing and supply chain optimization Supply Chain Optimization is the application of processes and tools to ensure the optimal operation of a manufacturing and distribution supply chain. This includes the optimal placement of inventory within the supply chain, minimizing operating costs (including manufacturing costs, solutions, announced that today the two companies have completed their merger, first announced on September 4. PeopleSoft issued 2.975 million shares of common stock to acquire all of the outstanding shares and stock options of Red Pepper in a transaction accounted for as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. . Red Pepper, based in nearby San Mateo, will continue to operate as an independent business unit. (Details of the merger can be found on the World Wide Web at http://peoplesoft.com.) PeopleSoft entered into a technology licensing and distribution agreement with Red Pepper in June 1995. In June 1996, PeopleSoft announced the initial release of a new line of software products that embed Red Pepper's highly regarded ResponseAgent(TM) technology. With this acquisition, PeopleSoft solidifies its position as a technology leader in the ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. marketplace and demonstrates its commitment to deliver tightly integrated enterprise solutions. Red Pepper is widely recognized as the technology leader in supply chain optimization systems. The addition of PeopleSoft's financial resources and global infrastructure will expand Red Pepper's presence in the high-growth market for advanced planning systems. -0- Note to Editors: ResponseAgent(TM) is a trademark of Red Pepper Software Company. PeopleSoft is a registered trademark of PeopleSoft, Inc. CONTACT: PeopleSoft, Inc. Kit Robinson, 510/468-2124 kit_robinson@peoplesoft.com or The Horn Group, Inc. Sabrina Horn, 415/579-6400 shorn shorn v. A past participle of shear. shorn Verb a past participle of shear Adj. 1. @horngroup.com or Red Pepper Software Chris Roon, 415/525-3374 roon@pepper.com |
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