Gores Technology Group Acquires Revere Incorporated from Walker Interactive Systems Inc.
April 20, 2000
Los Angeles, April 20, 2000 - Gores Technology Group (GTG), a leading privately held international acquisition and management company, today announced that it has acquired Revere Inc. from Walker Interactive Systems Inc. (Nasdaq: WALK). Revere is a worldwide provider of enterprise asset management software systems and related consulting services. Its premier products are the IMMPOWERTM Asset Management Application and the geoLATTICE Software Suite.
IMMPOWER is an application suite that includes Asset Maintenance and Management, Materials and Procurement Management, Safety Management and Shutdown/Outage Planning and Scheduling. IMMPOWER was designed specifically for the needs of large capital intensive industries including petrochemical processing, power generation, paper, mining, metals and transportation. IMMPOWER will help decrease costs, optimize resources, increase manpower productivity, and increase equipment reliability and up time.
geoLATTICE is designed to automate all aspects of designing, constructing and maintaining transmission and distribution facilities for all types of utilities, including electric, gas, water and telecommunications.
"We are impressed with Revere's significant customer base, strong professional staff and extensive software and service capability," said Vance Diggins, president of GTG. "We at GTG are excited about the acquisition and the long term growth potential for Revere."
"The Revere team looks forward to joining the GTG family of companies. Our employees and customers will benefit from GTG's extensive management experience and technology expertise," said Eduardo Niebles, general manager or Revere.
About Gores Technology Group
With headquarters in Los Angeles, Gores Technology Group (GTG) is a leading privately held international acquisition and management company with an aggressive strategy of acquiring promising high-technology organizations, products and services and managing them for increased growth and profitability. GTG's established infrastructure currently manages a portfolio of 18 technology-oriented companies that are located in 40 countries throughout the world. Those companies provide a broad range of technology-based products and services to a substantial customer base of 12,500 companies that represent over 1.5 million active users.
Walker Interactive Systems Inc. (Nasdaq: WALK), headquartered in San Francisco, California, is a leading, global provider of e-business solutions for the enterprise. The Walker family of e-business applications and vertical industry solutions, combined with integration and consulting services, are utilized by Global 2000 organizations in industries including banking and financial services, paper, retail, transportation and utilities. Information about Walker is available at http://www.walker.com or 1-800-PICK-WALKER.