STOCKHOLM, Sweden, June 07, 2004 (PRIMEZONE) -- IBS, International Business Systems, (XSSE: IBS B) has signed an agreement, based on the previously announced Letter of Intent, regarding the acquisition of the Supply Chain Division of JGI. With 35 employees, the division is involved in sales and implementation of business software solutions for supply chain management.
The consultants average over 10 years' employment with JGI and have in- depth knowledge in the fields of manufacturing and distribution as well as strong application and consulting expertise in CRM, financials, integration, EDI and business intelligence. The acquisition expands IBS' business in the US, complementing the present office in Folsom, CA and network of partners, with fully owned operations in Rochelle Park, NJ and Buffalo, NY.
"The acquisition expands our operations in the important US market considerably. The added locations create a solid platform for further growth in providing even better solutions and services to present and future customers. The acquired JGI Division has cutting-edge competence within our chosen market areas and a customer base of medium-sized customers that we can develop further," says Magnus Wastenson, CEO of IBS.
Jim Shappert, GM and Vice President, JGI Supply Chain Division, assuming the position as Vice President East Coast Operations at IBS US, comments on the acquisition:
"JGI has a long-standing tradition and more than 20 years of experience of delivering consulting and services expertise to medium- sized distribution and manufacturing companies. We are enthusiastic about becoming a part of IBS, which upholds a recognised international leadership in our area of expertise - Supply Chain Management. IBS' high ambitions, market focus and committed product development were deciding factors when choosing to join the IBS Group."
IBS' acquisition strategy is to strengthen the company's market position through the acquisition of companies with complementary customer bases and competence.
For more information, please contact:
Magnus Wastenson, CEO and President, IBS AB Per-Arne Sendren, CFO, IBS AB Tel. +46 (0)8 627 2515 Tel. +46 (0)8 627 2360 Mobile: +46 (0)70 627 2515 Mobile: +46 (0)70 627 2360 magnus.wastenson@ibs.net per-arne.sendren@ibs.net John Womack, Director of Corporate Communications Tel. +46 (0)8 627 2499 Mobile: +46 (0)70 678 2499 john.womack@ibs.net
IBS AB (XSSE: IBS B) is a leading provider of business software for supply chain management, business intelligence, financial control, and demand-driven manufacturing. IBS' primary focus is mid-sized and large wholesale distributors as well as sales and manufacturing companies in international groups, especially in pharmaceuticals, electronic parts and equipment, automotive parts and supplies, machinery, industrial supplies and consumer durables. For more information, please visit www.ibs.net
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http://www.waymaker.net/bitonline/2004/06/07/20040607BIT00270/wkr0001.pdf