Auto Data Network Completes Acquisition of the UK Auto Parts Software Supplier
TUNBRIDGE WELLS, U.K.--Feb. 3, 2003--Auto Data Network Inc. (ADN) (OTC:BB ADNW.OB), today announced that it has completed the acquisition of MAM Software Limited, one of the leading providers of real-time systems and software solutions for data networking in the automotive sector operating in the UK, Ireland and the United States of America.The addition of MAM Solutions Software to the Company will enhance the ADN "Orbit Platform" while incorporating the 14 years of operational expertise gained through MAM's unique relationship with leading global suppliers, producers and service companies within the multi-billion dollar automotive sector.
MAM Software's award-winning portfolio of solutions includes:
| -- | Autopart, an automotive parts software package; |
| -- | Autowork, independent operator car workshop management software; |
| -- | Autocat, a comprehensive electronic parts catalogue; and |
| -- | Autonet, an Internet communication and parts search solution for the auto industry. |
"MAM's acquisition dramatically accelerates ADN's development," stated Chris Glover, Auto Data Network's Chairman and CEO. "ADN will benefit from cross marketing opportunities and the integration of the extensive MAM systems with the developing ADN "Orbit Platform", while MAM's annual revenue of $14 million will increase the Company's run rate and create further growth opportunities."
Auto Data Network comprises a group of established companies providing real-time data and transactional network services to automotive manufacturers, retailers and consumers enabling industry-wide information collection, communication and revenue generation. This process creates a unique source of global automotive market data "Intelligent Information (TM)" that can be accessed and utilized by ADN subscribers for analysis.
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the Company's business including increased competition; the ability of the Company to expand its operations through either acquisitions or internal growth, to attract and retain qualified professionals, and to expand commercial relationships; technological obsolescence; general economic conditions; and other risks detailed time to time in the Company's filings with the Securities and Exchange Commission (SEC).