Peregrine Systems (R) Makes Equity Investment
PEREGRINE SYSTEMS (R) MAKES EQUITY INVESTMENT IN SUPPLYACCESS(TM)
SAN DIEGO, March 1 RNewswire-AsiaNet/ -- Peregrine Systems, Inc. (Nasdaq:PRGN), the provider of Get.It!(TM) Employee Self Service Weblications(TM) announces a significant equity investment in SupplyAccess(TM), a leading business-to-business IT marketplace provider. The investment strengthens the relationship between Peregrine Systems and SupplyAccess beyond the recently announced transactional and sales and marketing alliance. As a result of the investment, Peregrine Systems, Inc. will be the second largest investor in SupplyAccess, after En Pointe Technologies.
SupplyAccess is a robust business-to-business e-Procurement solution for MRO and IT products that has already processed in excess of $150 million worth of transactions and over 170,000 purchase orders for numerous Fortune 1000 corporations, government entities and educational institutions. Built using SAP R/3 and Microsoft Site Server technology, the application creates a seamless e-Business linkage, primarily focused on technology infrastructure, by capitalizing on its leading-edge technology and transaction processing expertise. It provides comprehensive IT product procurement information on over 150,000 unique SKUs from leading manufacturers and distributors, and displays them as configurable corporate standards with real-time product pricing and availability. Requisitions created in SupplyAccess follow a comprehensive internal workflow approval process to PO creation, then are tracked through the external supply chain process to final delivery and signature verification at the receiving dock. The application is fully hosted, allowing even the largest customers to be live in less than 30 days with minimal start-up costs, while still capable of any level of desired additional integration with back-end business systems, including SAP, Oracle, Peoplesoft and JD Edwards.
The equity investment will include representation on the Board of Directors of SupplyAccess, a position that will be filled by Steve Gardner, Peregrine Systems president and CEO.
"We are very excited about the success SupplyAccess has had in its brief existence and the significant transaction experience it has gained. We believe that the equity investment further aligns our objectives which will greatly benefit the customers of Peregrine Systems and SupplyAccess," stated Steve Gardner. "As we worked with SupplyAccess to develop our Market Connections relationship, we were quite impressed with their technology, catalog connections, and management team. Our equity investment allows us to ensure that we will have a close and lasting relationship with SupplyAccess, one that the shareholders of both Peregrine Systems and SupplyAccess will have the opportunity to benefit from."
"Peregrine Systems demonstrated a real understanding of the business opportunity we have in front of us, and we are delighted to have Peregrine Systems participate with us both as shareholders and market partners," saidKevin Schatzle, president and CEO of SupplyAccess. "We are also very pleased to welcome Steve Gardner to our Board of Directors. His experience in building a rapidly growing global company will be invaluable to our own growth."
About SupplyAccess, Inc.
SupplyAccess is a privately held company with significant ownership by En Pointe Technologies, a major distributor and reseller of technology infrastructure. It provides a web application and portal site that facilitates business-to-business Internet-based direct procurement of a broad line of information technology (IT) and materials, repair and operation (MRO) products and services. It is anticipated it will establish a set of vertical market exchanges for industries such as aviation/aerospace and oil and gas.
The procurement tool and direct buying portal site is designed for Fortune 1000 customers who are searching for a complete automated buying application that can be implemented in a matter of days for a minimum setup fee. The SupplyAccess.com network automates MRO and IT product acquisition, from end user requisitioning and approval workflow through electronic product procurement and delivery tracking. Additional product catalogs, including office supplies, equipment, furniture, packaged telecom systems and facilities products will be available early in the first quarter of 2000.
SupplyAccess has a portal site that can be visited at www.supplyaccess.com, with a Guest button that can be used to demonstrate most of the features of the client application.
About En Pointe Technologies, Inc.
Dedicated to driving the evolution of the computer reseller business model, En Pointe Technologies, Inc. (ENPT) is a dynamic public company focused on customer satisfaction through applied technology and service flexibility. With over $660 million in fiscal 1999 sales, En Pointe is one of the nation's fastest-growing resellers of IT products and services, directing a team of more than 125 direct sales people from its Los Angeles, California corporate headquarters.
With coverage in 21 cities throughout the U.S., sales and service consultants bring customized, cost-effective computer hardware, software and service solutions to a wide range of Fortune 1000 companies, as well as state/local government and educational institutions.
About Peregrine Systems
Peregrine Systems is the leading provider of Employee Self Service and e-Infrastructure Management solutions that help ensure the reliability, productivity and cost-effectiveness of oInfrastructure Management solutions to organizations to permit them to manage the availability and cost of their technology, facilities, and transportation infrastructure. Peregrine Systems also provides Get.It! Employee Self Service Weblications to allow any employee in the organization to get what they need to get their job done. By integrating Employee Self Service Weblications, such as e Procurement, with total lifecycle infrastructure management, our solutions empower organizations to make better and faster business decisions. In a world moving toward 24- hour global e-Business, e- Infrastructure Management coupled with Employee Self Service is a key to competitive success.
Founded in 1981, Peregrine Systems is headquartered in San Diego, California with offices throughout the United States as well as in the United Kingdom, Belgium, Canada, France, Germany, Denmark, Italy, Japan, Netherlands, Sweden, Australia and Singapore. Peregrine Systems also has alliance partners and distributors located throughout these regions and in Latin America. More information on Peregrine Systems is available on the World Wide Web at http://www.peregrine.com.
Peregrine Systems is a registered trademark and Get.It!, Get.Resources! and Weblications are trademarks of Peregrine Systems, Inc. All other trademarks are the property of their respective holders.
The statements in this press release relating to matters that are not historical are forward-looking statements. Actual results could differ materially from these forward-looking statements.
SOURCE Peregrine Systems, Inc. CONTACT: Valerie Motis of Peregrine Systems, Inc., 858-720-5278,
vmotisperegrine.com; or Jeff Eldot of Brodeur Worldwide,
Web site: http://www.supplyaccess.com
Web site: http://www.peregrine.com