ModusLink Corporation Acquires Full Ownership of Joint Venture in Japan
03 April 2007 - 6:45AM
Business Wire
ModusLink Corporation, a subsidiary of CMGI, Inc. (NASDAQ: CMGI)
and leading provider of global supply chain management solutions,
today announced that it has acquired full ownership of its
Japan-based joint venture from Sasatoku Printing, which previously
held a 60% interest in the entity. ModusLink Japan has been
operating as a joint venture, with a full-service solution center
in Kanagawa and a regional headquarters in Tokyo, for more than 8
years. Terms of the transaction were not disclosed. This
acquisition strengthens ModusLink�s global presence, while
providing it with the ability to provide stronger, broader and more
robust solutions both within the Japanese market and to Japan-based
customers looking to strengthen their supply chain globally.
Further, an essential element of ModusLink�s business strategy has
been to focus on key vertical markets, such as consumer
electronics, storage and communications, in each of which Japanese
companies play a leading role. �Japan is an important market for
ModusLink given that it is home to many of the world�s most
significant technology companies,� said Joseph C. Lawler, Chairman,
President and Chief Executive Officer of CMGI, Inc. �This
acquisition will provide ModusLink with the operational control
needed to effectively apply its best practices and leverages its
infrastructure to one of the most attractive markets for supply
chain services. It also demonstrates the Company�s commitment to
growing its business and fully extending its services in Japan and
with Japan-based brands.� Eric Kaufman, formerly ModusLink�s Vice
President of Client Solutions for the Americas region, has been
appointed to the position of President of ModusLink Japan. Kaufman
has more than two decades of experience working in the supply chain
space. �I am pleased to be a part of this important region within
ModusLink�s global operations,� said Mr. Kaufman. �I look forward
to the opportunity to apply my knowledge of ModusLink�s broad
solution set and experience with our customers in all regions to
grow our business and help local companies effectively optimize
their global supply chains.� About ModusLink ModusLink Corporation
is a leading provider of global, end-to-end supply chain management
solutions. The company provides technology clients in the software,
computing, consumer electronics, storage and communications markets
with customized supply chain solutions that improve time-to-market,
productivity and customer satisfaction while reducing risk and
cost. ModusLink's services include consulting and planning,
sourcing and supply base management, manufacturing and product
configuration, fulfillment, logistics management, e-commerce and
the complete range of aftermarket services. With 36 facilities in
13 countries, ModusLink has the largest global footprint in its
industry. The company is headquartered in Waltham, Massachusetts
and is a subsidiary of CMGI, Inc. (Nasdaq: CMGI). For additional
information, see www.moduslink.com. About CMGI CMGI, Inc. (NASDAQ:
CMGI), through its subsidiary ModusLink, provides industry-leading
global supply chain management services and solutions that help
businesses market, sell and distribute their products around the
world. In addition, CMGI�s venture capital business, @Ventures,
invests in a variety of technology ventures. For additional
information, see www.cmgi.com. This release contains
forward-looking statements, which address a variety of subjects
including, for example, the expected benefits of the acquisition of
the remainder of the joint venture and the prospects for growth of
ModusLink�s business generally and ModusLink Japan�s business in
particular. The following important factors and uncertainties,
among others, could cause actual results to differ materially from
those described in these forward-looking statements: ModusLink's
success depends on its ability to execute on its business strategy
and the continued and increased demand for and market acceptance of
its solutions and services; ModusLink may not be able to expand its
operations in accordance with its business strategy; ModusLink may
experience difficulties integrating technologies, operations and
personnel in accordance with its business strategy; ModusLink
derives a significant portion of its revenue from a small number of
customers and the loss of any of those customers would
significantly damage its financial condition and results of
operations; increased competition and technological changes in the
markets in which ModusLink competes; and risks associated with
international operations, including an expanded presence in Japan.
ModusLink represents a significant percentage of CMGI's operations
and the occurrence of any of the foregoing factors may have an
adverse effect on CMGI�s results of operations and financial
results. For a detailed discussion of cautionary statements that
may affect CMGI's future results of operations and financial
results, please refer to CMGI's filings with the Securities and
Exchange Commission, including CMGI's most recent Annual Report on
Form 10-K and Quarterly Report on Form 10-Q. Forward-looking
statements represent management's current expectations and are
inherently uncertain. We do not undertake any obligation to update
forward-looking statements made by us.
Cmgi (MM) (NASDAQ:CMGI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Cmgi (MM) (NASDAQ:CMGI)
Historical Stock Chart
From Jul 2023 to Jul 2024