Auto Data Network's MAM Software Subsidiary Announces $2.5 Million Contract
NEW YORK & TUNBRIDGE WELLS, UK--Dec. 2, 2003--Auto Data Network Inc. (OTCBB: ADNW), a provider of software and real-time data services to the automotive industry, today announced that its subsidiary, MAM Software, has been engaged by Brown Brothers Ltd., a division of the Unipart Group of Companies, to supply its successful AutoPart software solution, in a deal worth $2.5 million. Brown Brothers is Europe's largest independent distributor of automotive refinish products for the collision repair marketplace.AutoPart software, which utilizes the latest Microsoft.NET technology, is a comprehensive business management system for aftermarket automotive parts distributors and retailers that provides a secure business environment that promotes seamless, cost effective interactivity between trading partners. AutoPart will replace Brown Brothers' current Unix-based legacy system throughout the U.K., including head office and branch functions.
Murdo Jamieson, managing director of Auto Data's MAM Software division, stated, "The AutoPart software solution system will enable Brown Brothers to trade electronically with their customers and support their strategy of continuous improvements in customer service."
About Auto Data Network
Auto Data Network is a group of established companies that provide software products and services to the automotive industry. The company's main customer base is the auto dealership marketplace. This marketplace consists of approximately 78,000 dealers in North America and 92,000 dealers in Europe. The company estimates that this represents a $15 billion market for software and services specifically for auto dealerships. The company supplies a suite of software solutions and services that enable dealerships to run their businesses more efficiently, while achieving considerable cost savings. The majority of the company's current solutions are focused on serving the aftermarket and finance areas of dealerships. These areas are of particular importance as the aftermarket business is responsible for 48% of a dealership's profit, while representing only 12% of its overall revenue. The second most profitable area is vehicle finance and insurance, which contributes 35% of profits from only 2% of revenues.
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).