SALT LAKE CITY, March 1, 2005 (PRIMEZONE) -- Appian, Inc. has executed an offer to acquire MAI Systems Corporation (OTCBB:MAIY) based in Lake Forest, California. Terms of this proposed offer include issuance and exchange of a $2 convertible preferred share for each common share of MAI Systems Corporation. Regulatory and shareholder approvals will be required prior to completion.
MAI Systems Corporation designs, sells, installs, and supports enterprise information management solutions for use by hotels, motels, resorts, and government agencies. The wide spectrum of solutions provided includes: application software, computer hardware, various types of peripherals, along with local area network (LAN) installations. Certain software applications are generally licensed on an exclusive basis.
Hotel Information Systems, which is a wholly owned subsidiary of MAI Systems Corporation, was the first third-party PMS vendor to develop and introduce Expedia's direct connect interface. These systems substantially reduce transaction costs associated with booking. More efficient methods of processing reservations may be achieved.
All three of its epitome PMS Systems will be linked to Expedia's direct connect technology. "Our property management system coupled with Expedia's direct connect technology ensures prompt delivery of reservations for hotel operations through greater automation," said Alan Young, Chief Marketing Officer for Hotel Information Systems.
Certain statements in this news release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the company, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.