EXHIBIT 99.1
FOR IMMEDIATE RELEASE
Contact: Vincent C. Klinges
Chief Financial Officer
American Software, Inc.
(404) 264-5477
AMERICAN SOFTWARE SELLS AMQUEST TO INFOCROSSING FOR $20 MILLION IN CASH
Focuses American Software on core Business of Enterprise Software Products
and Services and Significantly Strengthens an Already Strong Balance Sheet
ATLANTA, GA (February 6, 2002) - American Software, Inc. (NASDAQ: AMSWA)
announced today the sale of the Company's wholly owned outsourcing subsidiary,
AmQUEST Inc. to Infocrossing, Inc. (NASDAQ: IFOX) in an all cash transaction for
$20 million. Proceeds of the sale will be used for general corporate purposes
and possibly for acquisitions and repurchase of company stock.
"The sale of AmQUEST allows American Software to increase its focus on its
primary business of selling and supporting enterprise software. Additionally
this will strengthen our Company's already strong balance sheet," said James C.
Edenfield, President and CEO of American Software, "This transaction also
provides AmQUEST's customers additional resources and synergies from one of the
premier providers of IT outsourcing solutions, Infocrossing."
AmQUEST and Infocrossing provide similar information technology services such as
mainframe and open systems outsourcing, business continuity services, and
systems and network management. Both companies also serve similar customers -
large to mid-sized enterprises across a broad range of industries including
financial services, security, publishing, healthcare, telecommunications and
manufacturing.
Roger Barrios, President of AmQUEST, commented, "We are very excited about
joining Infocrossing. The increased financial and operational strength created
through our combined companies will translate directly into benefits for our
customers."
American Software invites you to listen to the conference call that will be
broadcast live over the internet on Thursday, February 7 at 9:00am ET with James
C. Edenfield/President and CEO of American Software. Simply log on to
http://www.amsoftware.com and click on the AmQuest announcement. If you are
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unable to participate during the live webcast, the call will be archived on the
web site. There will also be a Command Performance of the conference call that
will be available within one hour after the conference ends. This recording will
be available until February 14 midnight ET. You can access the call by dialing
(402) 220-0860.
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About American Software, Inc.
Headquartered in Atlanta, American Software develops, markets and supports one
of the industry's most comprehensive offering of integrated business
applications, including enterprise-wide, supply chain management, Internet
commerce, financial, warehouse management and manufacturing packages.
Intelliprise(TM) is a total ERP/supply chain management suite, which leverages
Internet connectivity and includes multiple manufacturing methodologies, full
global capability and integrated data marts. American Software holds 85%
ownership in Logility Inc., (NASDAQ: LGTY), a leading supplier of collaborative
value chain planning solutions via the Internet.
About Infocrossing, Inc. (http://www.infocrossing.com)
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Infocrossing, Inc. is a premier provider of a full range of IT outsourcing
services, including mainframe and open system outsourcing, remote systems and
network management, business process outsourcing, and IT infrastructure
consulting. With more than 17 years of experience managing large,
mission-critical IT systems, Infocrossing assures the optimal performance,
security, reliability and scalability of customers' mainframes, distributed
servers and networks, irrespective of where the systems components are located.
Forward Looking Statements
It should be noted that this press release contains forward-looking statements
that are subject to substantial risks and uncertainties. There are a number of
factors that could cause actual results to differ materially from those
anticipated by statements made herein. These factors include, but are not
limited to, changes in general economic conditions, technology and the market
for the Company's products and services including economic conditions within the
e-commerce markets; the timely availability and market acceptance of these
products and services; the effect of competitive products and pricing; the
continued viability and effectiveness of strategic alliances; and the irregular
pattern of the Company's revenues, as well as a number of other risk factors
which could affect the future performance of the Company. For further
information about risks the Company could experience as well as other
information please refer to the Company's Form 10-K for the year ended April 30,
2001 and other reports and documents subsequently filed with the Securities and
Exchange Commission. For more information, contact: Vincent C. Klinges, Chief
Financial Officer, American Software, Inc., (404) 264-5477 or fax
(404) 264-5394.
For more information, contact: American Software, 470 East Paces Ferry Rd.,
Atlanta, GA 30305 (800) 726-2946. (404) 261-4381. FAX: (404) 264-5206 INTERNET:
www.amsoftware.com or E-mail: ask@amsoftware.com
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