MRO SOFTWARE AND iPOWER LOGISTICS STREAMLINE NATIONAL DISTRIBUTION NETWORK
MRO Software To Provide A Single-Source eBusiness Solution For iPower Logistics' Network of 175 Industrial Distributors and their Customers
BEDFORD, Mass. and CLEVELAND, March 5, 2001 - PSDI (NASDAQ: PSDI), now doing business as MRO Software, the leading provider of solutions for streamlining the supply chain for maintenance, repair and operations (MRO) materials, and iPower Logistics LLC, ("iPower"), a leading provider of technology, national marketing programs and services for distributors and manufacturers for supply chain and integrated supply programs, announced today that they have reached a strategic agreement to integrate MRO Software's supply-side suite of hosted solutions with iPower's current business application systems. By integrating the MRO Software platform, iPower will enhance the communication channels between its network of 175 industrial distributors and their customers, while providing the opportunity to consolidate catalog information, increase efficiency and reduce inventory and procurement costs.
"Through this alliance, iPower is reinforcing its commitment to our independent distributors and the key role they play in the industrial supply chain," commented J.D. Sullivan, Jr. CEO, iPower. "iPower's and MRO Software's products and services combine to enable our distributor network to transact eBusiness and offer enhanced productivity for their customers."
"By utilizing our hosted products and content services combined with iPower's supply chain software applications, iPower will quickly enable its entire network of distributors with a powerful new eBusiness platform," added Chip Drapeau, president and CEO, MRO Software. "This consolidated network of iPower distributors will be available to our MAXIMO® Extended Enterprise™ customer base as well as users of the Ariba Commerce Services Network™ and the i2 TradeMatrix™."
The alliance provides iPower with new tools, technology and an array of value-added services for its customers. iPower will use mroDistributor™ and mroConnect™ to aggregate and publish information from participating network distributors. iPower's distributors, through the combined features and functions of iPower's and MRO Software's services and applications, will be able to efficiently conduct their business over the Internet 24 hours a day. The alliance also provides MRO Software's MAXIMO Extended Enterprise users with a fully integrated industrial MRO supply source.
Keane Inc., (AMEX: KEA), iPower Logistics' technology consulting partner, will provide business process, technology architecture consulting as well as system integration services for MRO Software, iPower and their customers.
About iPower Logistics
iPower's electronic commerce software technology integrates a comprehensive stockroom inventory management system implemented at end customers' plants and facilities with its network's members. The Company's national marketing efforts pursue integrated supply contracts on behalf of its distributor members.
Headquartered in Cleveland, Ohio, iPower was founded in 1994 as iPower Distribution Group, Inc. and was a wholly-owned subsidiary of Parker Hannifin Corporation. In July 2000, iPower Logistics, LLC was formed to acquire the operation from Parker by an investor group led by CapitalWorks, LLC, Parker Hannifin, Keane, Inc., and management. For more information visit http://www.ipowerdist.com.
About MRO Software
The Company complements its MAXIMO work and materials management software with its MRO.COM supply side-suite of hosted solutions that provide enabling B2B technology and content services to manufacturers and distributors of industrial parts and equipment.
Based in Bedford, Mass. with over 1,000 employees, MRO Software markets its products through a direct sales force with sales offices throughout the United States, Argentina, Australia, Brazil, Canada, China, France, Germany, Hong Kong, India, Italy, Mexico, the Netherlands, Singapore, Sweden, Thailand, and the United Kingdom, combined with a network of international distributors. All MRO Software news releases are available via the MRO Software Home Page at http://www.mro.com.
MAXIMO is a registered trademark, and MRO.COM is a trademark, of PSDI. MRO Software is a trademark and an assumed name of PSDI.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. PSDI's actual results could differ materially from those set forth in the forward-looking statements. Certain factors that might cause such a difference include, among other things, difficulties or delays in rolling out the combined solution throughout iPower's network of distributors, difficulties in the integration of the two company's solutions or the parties' determination that such difficulties cannot be resolved, the failure of the parties' strategy to be accepted in the market, difficulties in coordination of the two companies' marketing or sales efforts, the emergence of competing alliances, the emergence of superior technologies, and those factors discussed in the section entitled "Factors Affecting Future Performance" on page 15 of PSDI's Annual Report on Form 10-K dated December 29, 2000.