PurchaseSoft, Inc. (OTC: Pink Sheets
PURC.PK) today announced it has acquired privately
held Computer Information Enterprises, Inc. assets and
licensing technologies for stock, and the assumption
of certain liabilities. Computer Information
Enterprises, Inc. is a leading provider of seamlessly
integrated, powerful document management and workflow
applications, specifically designed for Microsoft
Solutions® ERP systems.
Steve Flagg, PurchaseSoft Chairman and
CEO commented, “PurchaseSoft’s acquisition of
Computer Information Enterprises will further expand
our role in Microsoft Solutions® ERP systems and
enhance our offerings to our international customer
base. Computer Information Enterprises has a growing
customer base, superior market position, and dedicated
employees. They are exactly the type of company we
will pursue in the future as part of our continuing
acquisition plans”.
Craig Chandler, CEO of Computer
Information Enterprises, stated, “Becoming a
PurchaseSoft company gives Computer Information
Enterprises, Inc. great future opportunities. With the
experience of PurchaseSoft we gain access to talents
and complementary products as well as international
markets. Our document management technology and
integration expertise will be used to help extend the
marketplace for various PurchaseSoft products.”
About Computer Information
Enterprises, Inc.: Founded in 1976, Computer
Information Enterprises is the software developer of
ImageLink and AP-Distar, document management and
workflow solutions. The company’s product line
provides an intuitive, seamless integration with
Microsoft Solutions® Solomon IV and Great Plains ERP
systems.
About PurchaseSoft: Founded in 1977,
PurchaseSoft provides a complete product suite to
address enterprise procurement requirements from
requisitioning to analytics and sourcing. The company
draws on its historical expertise in purchasing to
provide robust solutions to small and mid-size
businesses.
This press release contains
forward-looking statements relating to, among other
things, the expected benefits of the Company’s
recent acquisitions. Such statements reflect
management’s best judgment based on factors
currently known but are subject to risks and
uncertainties, which could cause actual results to
differ materially from those anticipated. Such risks
and uncertainties include, but are not limited to, the
Company’s ability to finalize large client
contracts, fluctuations in customer demand for the
Company’s products and services, intensity of
competition from application vendors, delays in
product development, the Company’s ability to
control expenses, general economic and industry
conditions, terrorist activities, the Company’s
ability to integrate acquired businesses, the effect
of the acquisitions on customer demand for the Company’s
products and services, and those risks described in
the Company’s filings with the Securities and
Exchange Commission, PurchaseSoft cautions investors
that it may not update any or all of the foregoing
forward-looking statements.
