Auto Data Network's MAM Software Subsidiary Receives Major Investment in Its Autopart Product
TUNBRIDGE WELLS, UK--May 1, 20041, 2004--Fast Growing Motor Parts Direct Ltd. Looks to MAM's Latest Autopart System to Continue its Development |
Auto Data Network Inc. (OTCBB: ADNW), a provider of software and real-time data services to the automotive industry, today announced that Motor Parts Direct Limited (MPD) has recently made a major investment in the latest Autopart business management system of its subsidiary, MAM Software.
Based in Braintree, Essex, UK, MPD is a rapidly developing factor business and is well on its way to doubling in size over the next 12 months.
MAM Software have provided systems and data to MPD since the business was started in October 2000. MPD's innovative approach to the aftermarket has been recently improved with an investment in a unique garage programme designed to enhance their already strong relationships with their customers. This investment follows a planned system expansion, which included an investment in the latest MAM Autopart business management system to take MPD into its next stage of development.
Mike Jamieson, Managing Director of MAM Software, stated, "We are delighted that the Autopart system will enable MPD to further their strategy of continuous expansion and improvements in customer service."
About Auto Data Network
Auto Data Network is a group of established companies which 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 whilst 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 from 12% of their overall revenue. The second most profitable area is vehicle finance and insurance. This area contributes 35% of profits from 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).