Camelot IS-2 International Buys Gensym's Interest in Joint Venture Company, PDS Technologies.
Gensym to Focus Its Major Resources on Core Markets
Gensym Corp. (NASDAQ:GNSM) and Camelot IS-2 International LLC today announced that Camelot has purchased Gensym's interest in their joint venture company, PDS Technologies LLC (PDS). PDS was formed in October 1996 as a joint venture between Gensym and Camelot to address the market for supply chain management software, estimated at more than $1 billion per year.
"As a leader in object-oriented intelligent systems, Gensym expects to continue to provide technology to companies such as PDS for supply chain and production management solutions," said Lowell Hawkinson, Gensym chairman and CEO. "And while Gensym will continue to be active in the supply chain software market, we are choosing to focus our major investments in the core markets where we have our largest established presence."
"PDS and Camelot are wholly dedicated to creating an application framework to manage complex, dynamic supply chain processes," said Guenther Moeckesch, founder of Camelot IS-2 International and president of PDS. "We are working with consulting and technology partners to provide solutions for a variety of industries such as electronics, semiconductor, food and beverage, oil and gas, and chemical."
Camelot IS-2 International LLC, with subsidiaries in the U.S. and Europe, provides consulting services for enterprise systems such as SAP R/3. With extensive supply chain consulting experience in enterprise resource planning, manufacturing execution, distributed requirements planning, and process control systems, Camelot IS-2 is the leading implementation partner for PDS's supply chain application framework.
Founded in 1986, Gensym Corp. is a leading supplier of software and services for intelligent systems that help organizations manage and optimize complex dynamic processes. Common applications include quality management, process optimization, dynamic scheduling, network fault management, energy and environmental management, and abnormal situation management. Gensym has sold more than 7,000 product licenses to organizations in manufacturing, communications, aerospace, transportation, finance, and other industries. Based in Cambridge, Mass., Gensym has offices in North America, Europe, Africa and the Pacific Rim. Visit Gensym on line at http://www.gensym.com -0-
This document contains certain forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward looking statements. Without limitation, the words "expects to," "will," and similar expressions are intended to identify forward-looking statements. Such forward looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, but are not limited to, fluctuations in customer demand, intensity of competition from other solutions vendors, timing and acceptance of new products, and general economic and industry conditions, as well as other risks included in the Company's Form 10-Q for the quarter ended June 30, 1997, as filed with the Securities and Exchange Commission. Gensym Corp. assumes no obligation to update the information contained in this press release.
CONTACTS: Gensym Corp.
Camelot IS-2 Int'l
(617) 497-7500 x613
The Financial Relations Board
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|Date:||Sep 5, 1997|
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