PSDI news.....Project Software to acquire INTERMAT for $55 mln
BEDFORD, Mass., Jan 11 (Reuters) - Project Software & Development Inc.
(NasdaqNM:PSDI - news) a software provider, said on Tuesday it agreed to acquire
INTERMAT Inc. a unit of Strategic Distribution Inc.(NasdaqNM:STRD - news) for about
$55 million.
PSDI Acquires INTERMAT, Inc.
INTERMAT to Provide MRO.com's mroMarketplace and PSDI's MAXIMO Customer Base With
Powerful Cataloging and Data Standardization Tools
BEDFORD, Mass., Jan. 11 /PRNewswire/ -- PSDI (Nasdaq: PSDI - news), a leading provider of enterprise asset
maintenance (EAM) systems and MRO e-Commerce systems, today announced it has signed a definitive agreement to
purchase INTERMAT, Inc., a leading provider of MRO content management tools and cataloging services. Under terms of the
agreement, PSDI will acquire the capital stock of INTERMAT from Strategic Distribution, Inc. (Nasdaq: STRD - news) for
approximately $55 million. Closing of the transaction is subject to customary conditions, including expiration of the waiting
period under the Hart-Scott- Rodino Antitrust Improvements Act of 1976. The closing is expected to be in the company's
current quarter and will be accounted for as a purchase.
While advances in technology have made it easier to access data critical for indirect materials purchasing, the quality of the data
and the ''ease of use'' to access the data are still major factors that are far too inconsistent. INTERMAT's expertise lies in its
ability to standardize data by using its Standard Modifier Dictionary(TM) (SMD) which features over 6,500 unique formats for
clear, concise, accurate descriptions of MRO parts and materials. The SMD is the world's most widely implemented standard
for the description of MRO and general supply items. With the acquisition of INTERMAT, PSDI will add a robust component
to its existing technology for mroMarketplace and for the company's MAXIMO installed base consisting of thousands of end
users. MRO.com will be able to standardize descriptions for industrial suppliers and buyers providing the ability to easily search
for supplies in the mroMarketplace catalogs.
Rich product content is mandatory and represents the most challenging component of an MRO e-Commerce solution due to
the volume and complexity of the data, and the involvement of tens of thousands of distributors and manufacturers, each with
their own disparate sources of information. ''A fundamental part of our strategy is to offer content that is specific to the
maintenance and repair world,'' said Walt Vanderlaan, vice president, corporate development, MRO.com. ''Product
classifications, item attributes, technical specifications, and digital assets are crucial to the buying experience for the maintenance
and purchasing professional. Quality content is what drives the success of e-procurement solutions. Without it, efforts to reduce
costs for both the buyer and supplier will not be fully realized.''
''In the digital marketplace for MRO products, aggregated content is everything,'' said Chip Drapeau, president and CEO of
PSDI. ''The accessibility and quality of the data is a fundamental piece of the Internet commerce puzzle. The company that
wins the content battle will win in the MRO e- procurement space. The acquisition of INTERMAT is another critical step in our
strategy to provide a comprehensive solution for capital asset intensive industries to reduce costs for buyers and sellers of
MRO materials and supplies.''
Key Components of the Acquisition Include:
INTERMAT's Staff of MRO Subject Experts
Based out of INTERMAT's headquarters in Houston, Texas, the company's
workforce of 75 employees, including 56 MRO product experts, will serve as an
important component of MRO.com's content service offerings. These offerings
will include; MRO search capabilities, catalog creation, catalog analysis,
data standardization and enhancement, implementation, integration, and catalog
maintenance. INTERMAT president and CEO Gregg Enders will continue in his
role operating this business unit.
MRO.Master(TM)
MRO.Master is a database that contains comprehensive information on more than two million of the most commonly used
maintenance, repair, operations and general supply items from major industries including process, manufacturing, petrochemical,
and utilities. Each item includes noun and modifier identifiers, reference numbers, descriptive characteristics and values,
synonyms, and supplier name formatted to INTERMAT's SMD.
AutoCon
The core of the content creation process is INTERMAT's proprietary AutoCon system; a robust content processing engine
and knowledge base with over 80,000 business rules specific to MRO material. AutoCon, coupled with INTERMAT's SMD
of over 6,500 MRO templates, will form the foundation of MRO.com's ability to deliver industrial content rapidly to the
mroMarketplace.
Struxure® and Cataloger's Assistant(TM)
Struxure and Cataloger's Assistant are the cornerstone of INTERMAT's Internet catalog content management infrastructure.
These software tools will allow distributors and manufacturers to enrich and enhance their product data, and through XML
technology, allow them to maintain data in the mroMarketplace. This centralized approach to remote catalog content
management will allow distributors and manufacturers to update and publish data once and immediately make it accessible to all
buyers. |
