Baan Acquires Compact 3000 Ltd.
31 July 1998
Baan Acquires Compact 3000 Ltd.
Transaction Increases Consulting Resources for Automotive Industry
BARNEVELD, The Netherlands and RESTON, Va., July 30 -- The
Baan Company N.V. announced today that it has
acquired Compact 3000 Ltd. Compact 3000 Ltd., based in Birmingham, England,
are consultants for Baan to the automotive industry.
"This acquisition is an attractive opportunity to add to our existing
consulting resources," said Joachim Tonassi, vice president of the Baan
Company and general manager of Baan Solution Center Automotive. "During the
past six years, Baan and Compact have worked well together, serving several
mutual customers on a global basis. Now we will be able to serve the
automotive industry even more extensively."
Part of the consideration for the share capital of Compact 3000 Ltd. is
the issuance of 40,000 shares to the selling shareholders. Other financial
terms of the acquisition are not disclosed as the transaction is not material
to the Baan Company.
About The Baan Company
Baan's Solution Center Automotive serves a wide range of automotive OEMs
and suppliers, including Daimler Benz, Fiat, Renault and Lucas.
The Baan Company delivers its comprehensive enterprise-wide business
management software to companies requiring best-in-class business
capabilities. Its current products are fully Year 2000 compliant and based on
a flexible, multi-tier client/server architecture which can scale to meet the
needs of small, medium and large enterprises. More than 3,000 companies use
Baan in 5,000 sites world-wide. Baan's products uniquely support continuous
business improvements through its capability for Dynamic Enterprise Modeling.
Founded in 1978, Baan has dual headquarters in Barneveld, The Netherlands
and Reston, Virginia. The Company's Common Stock is registered on the Nasdaq
Stock Market under the symbol BAANF and on the Amsterdam Stock Exchange under
the symbol BAAN. For product information call 888-THE BAAN, or visit Baan
Company's web site at http://www.baan.com. For information on the Baan
Company via fax at no cost, dial 800-PRO-INFO (+732-544-2850 outside the
U.S.).
About Compact 3000 Ltd.
Founded in the United Kingdom in 1975, Compact is the largest dedicated
Baan Business Partner in the United Kingdom today. The market focus has been
on the Automotive Supply Chain with an emphasis on Lean Manufacturing.
To the extent there are any forward-looking statements in this release,
they are necessarily subject to uncertainties based on various factors,
including business conditions in the Company's markets, product release
cycles, and competitive conditions. Further information on potential factors
which could affect the Company's financial results are included in the
Company's Report on Form 6-K for its fiscal quarter ended March 31, 1998 and
the Company's Report on Form 20-F for the 1997 fiscal year, each of which are
on file with the U.S. Securities and Exchange Commission.
NOTE: "Baan" is a registered trademark of, and any trade, product, or
service name referenced in this release using the name "Baan" is a trademark
and/or property of, the Baan Company. All other trade, product, or service
names referenced in this release may be trademarks or registered trademarks of
their respective holders.