Epicor(R) Completes Acquisition of Spectrum Human Resource Systems Corporation
December 28 2010 - 9:00AM
Marketwired
Epicor Software Corporation (NASDAQ: EPIC), a leading provider of
enterprise business software solutions to the midmarket and Global
1000 companies, today announced that it has completed its
previously announced acquisition of SPECTRUM Human Resource Systems
Corporation.
"Epicor is now poised to bring the power of a truly integrated
next-generation enterprise resource planning (ERP) and HCM solution
to market," said George Klaus, chairman, president and CEO of
Epicor. "Our strategy to provide focused market-leading technology
that aligns to industry best practices is further enhanced with the
addition of integrated HCM solutions. We are pleased to have closed
this acquisition slightly ahead of schedule and have begun the
process of integrating Spectrum and its technology into Epicor.
"The fact that we have just closed our first Epicor ERP deal
with a Spectrum customer this quarter is further validation that
the combined company will deliver even greater value to all of our
combined customers," said Klaus.
Virtual Radiologic Corporation (vRad) is a technology-enabled
national radiology practice working in partnership with local
radiologists and hospitals to optimize radiology's pivotal role in
patient care. Currently implementing Spectrum's HCM solution, vRad
just selected Epicor's next-generation ERP for its superior
technology and functionality to automate business processes and
support company growth plans. "We were pleased when we heard Epicor
had acquired Spectrum -- having a single provider to tend to our
overall financial and human resources enterprise information
systems needs was definitely a plus in our decision to go with
Epicor," said Rick Jennings, chief technology officer of Virtual
Radiologic Corporation.
As noted in the news release, "Epicor to Acquire Spectrum Human
Resource Systems Corporation," issued on December 13, 2010,
Spectrum's best-in-class Web-based human resource and talent
management solutions are the core of the newly formed Epicor Human
Capital Management (HCM) group. The acquisition broadens Epicor's
position as a leading provider of complete end-to-end enterprise
business solutions to the manufacturing, distribution, retail,
hospitality and services sector, with the addition of end-to-end
HRMS. Leveraging combined focus on Microsoft .NET, Web 2.0 and
cloud computing technologies, and expertise in delivering
world-class business solutions, Epicor will deliver a solution that
requires no compromises and what no other company is providing
today -- an end-to-end HCM solution backed by local country
support, localization and language, and supporting flexible
delivery options including software as a service (SaaS), hosted,
and on-premise.
About Epicor Software Corporation Epicor
Software is a global leader delivering business software solutions
to the manufacturing, distribution, retail, hospitality and
services industries. With 20,000 customers in over 150 countries,
Epicor provides integrated enterprise resource planning (ERP),
customer relationship management (CRM), supply chain management
(SCM), human capital management (HCM) and enterprise retail
software solutions that enable companies to drive increased
efficiency and improve profitability. Founded in 1984, Epicor takes
pride in more than 25 years of technology innovation delivering
business solutions that provide the scalability and flexibility
businesses need to build competitive advantage. Epicor provides a
comprehensive range of services with a single point of
accountability that promotes rapid return on investment and low
total cost of ownership, whether operating business on a local,
regional or global scale. The Company's worldwide headquarters are
located in Irvine, California with offices and affiliates around
the world. For more information, visit www.epicor.com.
Epicor is a registered trademark of Epicor Software Corporation.
Other trademarks referenced are the property of their respective
owners. The product and service offerings depicted in this document
are produced by Epicor Software Corporation.
Forward-Looking Statements Management of
Epicor Software believes certain statements in this press release
may constitute forward-looking statements under the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements include statements regarding the transaction, potential
synergies, the expected impact of the transaction, future
operations of the combined entity and other statements that are not
historical fact. These forward-looking statements are based on
currently available competitive, financial and economic data
together with management's views and assumptions regarding future
events and business performance as of the time the statements are
made and are subject to risks and uncertainties, including, without
limitation, risks associated with market and economic conditions,
Epicor's ability to consummate the transaction, which is subject to
certain conditions, Epicor's ability to integrate this acquisition
and recognize expected synergies, Epicor's ability to continue to
support Spectrum's customers and add functionality to Spectrum's
products, and the risks and uncertainties described in Epicor's
Annual Report on Form 10-K for the year ended December 31, 2009 and
Quarterly Report on Form 10-Q for the period ended September 30,
2010. Actual results may differ materially from those expressed or
implied in the forward-looking statements.
As a result of these factors the business or prospects expected
by the Company as part of this announcement may not occur. Epicor
undertakes no obligation to revise or update publicly any
forward-looking statements.
Contact: Lisa Preuss Director, Public Relations Epicor Software
Corporation 949/585-4235 lpreuss@epicor.com Damon Wright Vice
President, Investor Relations Epicor Software Corporation
949/585-4509 dswright@epicor.com
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