Advant-e Corporation Completes Merkur Group Acquisition
03 July 2007 - 4:13AM
PR Newswire (US)
Merkur Group to Be Operated as Wholly Owned Subsidiary DAYTON,
Ohio, July 2 /PRNewswire-FirstCall/ -- Advant-e Corporation
(OTC:AVEE) (BULLETIN BOARD: AVEE) , a provider of Internet-based
business-to-business electronic commerce services today announced
that it has completed the acquisition of Merkur Group, Inc., a
privately owned Delaware corporation based in West Chester, Ohio,
whose principal shareholder is Rob D. Wadzinski, the brother of
Advant-e CEO Jason K. Wadzinski. The acquisition extends the
solution offerings of Advant-e to provide document automation
services to a broader range of customers as well as extend services
deeper into existing supply chain implementations. For over ten
years, Merkur Group has helped organizations streamline the
document-intensive aspects of procure-to-pay and order-to-cash
business processes. Merkur Group solutions provide multi-channel
document delivery, receipt, capture, archive, and workflow
capabilities that are tightly integrated with CRM, SCM, financial,
and ERP systems such as Oracle, PeopleSoft, SAP, Baan, legacy, and
many other business applications. For the past several years,
Merkur Group has generated annual revenue of approximately $2
million on a non-GAAP reporting basis. Advant-e expects the
acquisition of Merkur to contribute to the Company's profitability
beginning some time in the second half of 2007. Advant-e
Corporation acquired all the outstanding common shares of Merkur
Group, Inc. in exchange for cash payments totaling $927,938 and the
issuance of 396,301 unregistered shares of the Company's common
stock. Advant-e intends to operate Merkur Group as a separate
wholly owned subsidiary. About Advant-e Corporation Advant-e, via
its wholly owned and sole operating subsidiary Edict Systems, Inc.,
is a provider of Business-to-Business electronic commerce software
and Internet-based applications specializing in Electronic Data
Interchange (EDI) and XML-based solutions for recurring
transactions. Advant-e specializes in horizontal transaction
services via EnterpriseEC(R), an Internet-based Trading Community
Connectivity, Management, and Integration solution, and within
specific industries via web-based EDI services including
http://www.groceryec.com/, http;//http://www.retailec.com/,
http://www.automotiveec.com/, http://www.cpgsupplier.com/, and
http://www.webedi.com/. Additional information about Advant-e
Corporation can be found at http://www.advant-e.com/ and
http://www.edictsystems.com/ or by contacting investor relations at
(937) 429-4288. The company's email is . The information in this
news release includes certain forward looking statements that are
based upon assumptions that in the future may prove not to have
been accurate and are subject to significant risks and
uncertainties, including statements to the future financial
performance of the company. Although the company believes that the
expectations reflected on its forward looking statements are
reasonable, it can give no assurance that such expectations or any
or its forward-looking statements will prove to be correct. Factors
that could cause results to differ include, but are not limited to,
successful performance of internal plans, product development and
acceptance, the impact of competitive services and pricing, or
general economic risks and uncertainties. DATASOURCE: Advant-e
Corporation CONTACT: Investor Relations of Advant-e Corporation,
+1-937-429-4288, or Web site: http://www.advant-e.com/
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