MRO Software, Inc., Bedford, MA, a provider of e-Business solutions for asset-intensive companies, has responded to a refusal by Datastream Systems, Inc., Greenville, SC, to enter into discussions regarding MRO Software's acquisition proposal made Dec. 20. In a letter sent Jan. 9, MRO Software urged Datastream's management and board to open negotiations, and also left open the option of going directly to the company's shareholders concerning a takeover of the company.
On Dec. 20, MRO Software made an offer to purchase Datastream for about $122 million, or $6 per share consisting of $1 in cash and $5 in the form of MRO Software common stock. At the time, the offer represented a premium of 45 percent over Datastream's average closing price over the prior 15 trading days ($4.15 per ...
Datastream Systems, Inc., Greenville, SC, announced that, after careful consideration, its board of directors unanimously rejected an unsolicited offer by MRO Software, Inc. to purchase all of the outstanding shares of Datastream for $6.00 per share, comprised of $1.00 per share in cash and $5.00 per share in MRO Software common stock. The board determined the MRO Software offer is inadequate, does not reflect the inherent value of the company, and is not in the best interests of Datastream or its stockholders. Letter follows:
Larry G. Blackwell, Chairman of the Board of Datastream Systems, Inc., sent the following letter, dated January 8, 2002, to Mr. Robert Daniels, Chairman of the Board of MRO Software, Inc.:
Datastream Systems, Inc., Greenville, SC, announced that it had responded to MRO Software, Inc. (NASDAQ: MROI) in a letter dated December 21, 2001, regarding MRO Software's unsolicited offer to purchase Datastream Systems, Inc. As noted in its press release on December 20, 2001, MRO Software sent a letter to Datastream's chairman and CEO with an unsolicited offer to purchase Datastream for a price of $6.00 per share, consisting of $1.00 in cash and $5.00 in the form of MRO Software common stock. Datastream indicated in its letter to MRO that it would evaluate the proposal with its board and advisors and respond in due course once such an evaluation is complete. Datastream advises stockholders that they need not take any action at this time and that they should await the response of ...
Bedford, MA, Dec. 20, 2001 - MRO Software, Inc. (Nasdaq: MROI), the leading provider of e-Business solutions for asset-intensive companies, today announced that it has made an offer to purchase Datastream Systems, Inc. (Nasdaq: DSTM), a provider of applications, tools and services for asset lifecycle management based in Greenville, South Carolina.
MRO Software has sent a letter to Datastream's Chairman and CEO offering to purchase Datastream for a price of $6.00 per share, consisting of $1.00 in cash and $5.00 in the form of MRO Software Common Stock, representing a premium of 45% over Datastream's average closing price over the past 15 trading days ($4.15 per share). A copy of MRO Software's offer is attached to this press release.
Prophet 21, Inc., Yardley, PA, a provider of business technology and services to the durable goods distribution market, announced significant revenue growth and profitability in the first quarter of fiscal year 2002.
Revenues for the first quarter of fiscal 2002 were $10.6 million, compared to $8.2 million reported during the same quarter in 2001. Net income for the quarter was $238,000, as compared to a loss of ($1.5) million, during the same period a year ago.
"We are very pleased to see that our investments in research and development have resulted in growth in both our revenue and the bottom line," announced Chuck Boyle, president and CEO of Prophet 21. "Our big picture focus and leadership position with regard to research and development have separated us ...
Executive summary: There is a long way to go as the industrial distribution channel sorts out how to effectively implement e-business tools. This article argues that distributors can be a unique and critical control point as the managers of information in a faster and leaner channel. But there are bumps ahead in how distributors partner with channel partners to build an information network that will ultimately create a more integrated and efficient channel to the customer.
Heard any good news about the e-business movement? The opportunity to reduce transaction, inventory, facilities, personnel, and many more costs...right? There's been some troubling news, however. As we rush merrily along towards the virtual distributor who carries no inventory but merely matches ...
The National Association of Wholesaler-Distributors (NAW), Washington, DC, has released a set of proposed standards for participation agreements for e-marketplaces. The standards were developed by an NAW task force composed of several distributors of supplies for maintenance, repair and operations (MRO), including Applied Industrial Technologies, McJunkin Corporation, WESCO Distribution, Wilson Supply, Cameron & Barkley (a Hagemeyer North America company), and Vallen Corporation (a Hagemeyer North America company). NAW is making these voluntary standards available to all suppliers and marketplaces so they may be adopted rapidly by individual suppliers and marketplaces.
During the past year, a number of e-marketplaces have been established to bring together sellers and buyers of ...
In like a lion, out like a lamb. In case you missed it, July 1 marked the demise of Grainger's digital businesses. After not getting other distributors interested in a partnership, last quarter they shut down everything except FindMRO.com, which they folded into their core branch-based business. The final gasp was taking a $40-million write-off last quarter and pulling the plug.
Grainger's electronic marketing strategy really began with their roll-out of a CD-ROM catalog about eight years ago. Their digital adventures will provide one heck of a Ph.D. topic for some industrial distribution grad student at some point.
Grainger was at the bleeding edge in this industry from day one when it came to investing in technology. They shaped the landscape and pushed the ...
MDM July 25, 2001 - Executive summary: Key to an effective technology strategy is to optimize strategic fit and performance for the present business, while positioning yourself to compete in an uncertain future. An honest customer-driven orientation is the most important roadmap for managing technology investments. You need to understand how end-user customers buy and want - not just which products they buy or who they are.
This article is adapted from the new NAW report, Facing the Forces of Change: Future Scenarios for Wholesale Distribution.
The e-commerce (EC) hype wave is history, but we are still in the sixth year of a 12-15 year e-commerce revolution. The raw fuel for yesterday's digital economy dream is still in place; the explosive growth rates will continue for: chip power, internet interconnectivity, bandwidth capacity and digital commerce software solutions.
The 'next big thing(s)' for EC could still be three to five years away or never. Those applications, for example, that assume most businesses will have continuously on, reliable, big bandwidth connections – 'webtone' – will be delayed. The telcom startup companies that were building the digital infrastructure are crashing for lack of cash, so former monopoly companies have gone back to glacial-speed rollouts at higher prices.