LAS VEGAS, Dec. 12, 2001 (PRIMEZONE) -- PurchasePro (Nasdaq:PPRO) announced today that it has sold a PurchasePro MMS400 Materials Management System to Dover Downs Entertainment Inc. (NYSE:DVD), an entertainment company based in Dover, Delaware.
While terms of the contract were not disclosed, typically licenses comprise an upfront license fee and monthly maintenance and consulting fees. PurchasePro's MMS400 software provides organizations with a complete solution for procurement, inventory, recipe and menu analysis, while the MMS400R technology enables virtually any retail outlet to buy, track and resell its products and services more effectively.
PurchasePro's inventory management software is widely used in many of the hotels in Las Vegas, as well as a variety of vertical markets, including: government; foodservice; entertainment; resorts and amusement parks. Among PurchasePro's material management customers are Snowbird Ski and Summer Resort, Fort Jackson Army Base, The Broadmoor, Delaware Park Race Track, The Greenbrier, Harrah's Entertainment, Inc., Mandalay Bay Group Resort, Park Place Entertainment, Pinehurst Resort and Country Club and Vail Ski Resorts.
PurchasePro's MMS400 Materials Management System was developed by Stratton Warren Software and acquired by PurchasePro in January 2001. Stratton Warren was founded in 1977 to address the needs of the hospitality industry. The software was designed by industry professionals, and has evolved, via feedback from users, into the most dynamic materials management software available.
Stratton Warren Software's flagship product is the Enterprise Materials Management System (MMS400), a turnkey software solution for procurement and inventory operations consisting of four base modules: Inventory, Purchasing, Recipe/Menu Analysis, and Retail; each with specific functionality geared to the hospitality industry.
About PurchasePro
PurchasePro(r), www.purchasepro.com, is a B2B e-commerce leader with the stated goal of providing software to enable enterprises of all sizes to gain universal access to the world's largest commerce network. The PurchasePro commerce network comprises more than 300,000 businesses, authorized to buy and sell, and powers hundreds of private-label marketplaces. PurchasePro provides the following B2B e-commerce solutions: e-Procurement for enterprise-wide procurement; e-Source for strategic sourcing; v-Distributor for online distributors; and e-MarketMaker for Internet market makers.
About Dover Downs
Dover Downs Entertainment, Inc. operates a multi-purpose entertainment complex conducting NASCAR auto racing, pari-mutuel harness horse racing, pari-mutuel wagering on simulcast harness and thoroughbred horse races and video lottery (slot) machine operations in Dover, Delaware. The Company owns and operates the Nashville Superspeedway and operates the historic Nashville Speedway at the Tennessee State Fairgrounds in Nashville, Tennessee; organizes and promotes the Toyota Grand Prix of Long Beach in Long Beach, California; and owns and operates Gateway International Raceway near St. Louis, Missouri and Memphis Motorsports Park near Memphis, Tennessee. The Company will also organize and promote the Denver Grand Prix in 2002.
This news release may include forward-looking statements, which are subject to the "Safe Harbor" created by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve certain risks and uncertainties that can cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements represent only the views of certain members of management and are based on limited information available to us now, which is subject to change. We have no current plan to update these statements. Actual results may differ substantially from what we say today and no one should assume at a later date that the forward-looking statements provided herein are still valid. They speak only as of today. For more information about these risks and uncertainties, see the SEC filings of PurchasePro.com, Inc., including the section titled "Factors That May Affect Results" in its 10-K filing for the period ended December 31, 2000, and its 10-Q for the quarter ended September 30, 2001, which are available from the company on request and on the Internet at the SEC's Website, www.sec.gov. Note: PurchasePro is a service mark of PurchasePro.com Inc. All other trademarks or registered trademarks are the property of their respective owners.