never said i like ross more. i've got a sizeable position in INFM so i'm quite happy. the stock is moving on its ASP strategy splitting off a subsidiary:
Infinium Launches ASP Company; Infinium ASP Operating Company to Have Distinct Management Team, Revenue Goals and Growth Strategies
HYANNIS, Mass.--(BUSINESS WIRE)--March 13, 2000--Infinium (NASDAQ:INFM), a provider of enterprise business solutions and services, today announced that as part of its long-term growth strategy to leverage emerging market opportunities, it is forming individual operating companies to focus on delivering Internet business solutions and services to its customers.
The first wholly owned operating company is Infinium ASP, a single-source, fully accountable application service provider focused on delivering high-value, customer-specific, secure and reliable ASP solutions. The Infinium ASP operating company will have a distinct management team, operating goals and growth strategies. It will be led by a chief executive officer with autonomy, empowering that CEO to focus solely on better serving its customers and achieving the ASP company's business goals.
The ASP market, currently estimated to be $5 billion, is expected to grow to nearly $23 billion by 2003, according to GartnerGroup. To take full advantage of this emerging market opportunity, Infinium continues to build infrastructure in its ASP operating company, and as previously announced, expects to report an operating loss for the current quarter and fiscal year.
Infinium will continue to provide administrative, financial, and marketing support to the Infinium ASP operating company, enabling it to grow rapidly by greatly minimizing the infrastructure and workforce difficulties faced by many of today's Internet start-ups and early-stage market entrants. The synergy between Infinium and Infinium ASP will drive efficiencies through economies of scale and leveraged business opportunities.
"Forming the Infinium ASP operating company enables us to leverage our core competencies that include, among others building and maintaining strong customer relationships, financial strength, a highly competent workforce, solid infrastructure, and Internet expertise - while empowering our new company with the agility to capitalize on the ASP emerging market opportunities," said Bob Pemberton, CEO of Infinium. "The operating company CEO will have the ability to develop and execute an ASP-specific business plan that will drive the new organization to become the leading provider of ASP solutions."
About Infinium
The Infinium ASP operating company is a single-source, fully accountable application service provider. Infinium has more than 2,000 customers worldwide representing a variety of industries including gaming and hospitality, manufacturing, transportation, healthcare, and retail. Founded in 1981, Infinium has offices worldwide and is headquartered in Hyannis, Massachusetts. Get to know us at infinium.com.
Infinium is a registered trademark of Infinium Software, Inc. Trade names referenced are the servicemarks, trademarks, or registered trademarks of their respective owners.
CONTACT:
Miller Shandwick Technologies
Debbie West, 617/351-4184
kmoore@miller.shandwick.com
Infinium
Alisha Simmons, 508/790-6819
alisha-simmons@infinium.com |
