Gores Technology Group Acquires Systems Software Associates, Inc.
August 3, 2000
Software ERP Pioneer Strengthens GTG Portfolio
Los Angeles, California, August 3, 2000 - Gores Technology Group (GTG), a leading privately held international acquisition and management company, today announced that it successfully acquired Systems Software Associates, Inc. (SSA), a worldwide provider of Enterprise Resource Planning (ERP) software and services.
"This is a significant acquisition and an important opportunity for GTG," said Vance Diggins, president of GTG. "It firmly places us in the fast-growing ERP market and reinforces GTG's growing worldwide presence as a leading provider of software and services."
GTG will provide its well-established operations, management and turnaround expertise to the recently restructured SSA. The initial focus of the newly formed company will be on its customers, employees and profitability. Once the company has addressed these functions, it will focus on the market-driven expansion of product development and sales.
SSA received funding for the acquisition from an investor group led by GTG and Cerebus Partners L.P., a company with a diversified $5 billion investment portfolio. The investor group will provide capital and a credit facility of up to $65 million.
"There is great potential for this new venture," said Vic Shepherd, CEO of the new SSA. "This acquisition will help to ensure the long-term viability of the company. We will continue enhancing the value of our core products while starting to invest in new market opportunities."
SSA has been developing and providing its proprietary ERP software system for more than 18 years and is recognized for its expertise in the industrial manufacturing sector, particularly in the consumer goods, food and beverage, pharmaceuticals, general manufacturing, automotive supply and electronics industries. With fiscal year 1999 revenues of $316 million, the company has one of the largest installed bases in the industry, approximately 6,500 clients at 12,000 sites across more than 70 countries.
Companies ranging in size from $50 million to multibillion dollar global 100 corporations use SSA's product suite, Business Planning and Control System (BPCS). SSA customers receive both product and support from 33 worldwide offices and from a highly trained professional staff of 1,500, which is augmented by a network that exceeds 110 independent service providers.
About Gores Technology Group
Headquarters in Los Angeles, Gores Technology Group (GTG) is a privately held international acquisition and management firm that pursues an aggressive strategy of acquiring promising high-technology organizations and managing them for growth and profitability. GTG's established infrastructure currently manages a portfolio of 22 interrelated but autonomous technology-oriented companies that are located in 50 countries throughout the world. Those companies provide a broad range of technology-based products and services to a substantial customer base of 20,000 that represent over 2.0 million active users.
About SSA Acquisition Corp.
SSA Acquisition Corp., formed from the purchase of System Software Associates by an investor group led by Gores Technology Group, is a provider of software and services to the world's industrial sector companies, the former company having fiscal year 1999 revenue of $316 million. Its principal product, eBPCS Version 6.1 is primarily sold to the industrial sector including automotive, chemicals, consumer goods, electronics, general manufacturing, food and beverage, forest products and pharmaceuticals.