ROSS SYSTEMS a turnaround? Message Board

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Technology Stocks : ROSS SYSTEMS a turnaround?

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To: Jim Malone who started this subject	12/13/2000 1:08:39 AM
From: bob zagorin	of 3067

Ross Systems to sell human resources, payroll line ATLANTA, Dec 12 (Reuters) - Business software supplier Ross Systems Inc. <ROSS.O> on Tuesday reported an agreement to sell its human resources and payroll product line. Atlanta-based Ross said it received an unsolicited offer to purchase the assets and liabilities of its human resources and payroll line in a buyout led by Toronto-based Arglen Corp. The company also said it expects to return to profitability in its fiscal third quarter ending March 31, 2001. Staff cuts and facilities closings have reduced its break-even level by more than $20 million to just below $60 million in annual revenue, Ross said. Ross said its management reached "substantial agreement" to the terms of the deal with Arglen and expects to reach a final agreement by the end of the year. Under the agreement, Ross's iRenaissance Human Resource Management and Payroll solutions would become the property of Arglen, with Ross continuing to market the product as an Arglen distributor. Ross did not release additional details. Shares of Ross rose 3/32 to 11/32 in Nasdaq market trading on Tuesday. 12:04 12-12-00

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