Contact:
ePlus inc.
Kley Parkhurst, SVP
Tel: 703-709-1924
kparkhurst@eplus.com
For Release on October 9, 2001
EPLUS COMPLETES ACQUISITION OF SOURCEONE COMPUTER CORPORATION
Acquisition Expands West Coast Operations
HERNDON, VA - October 9, 2001 - ePlus inc. (Nasdaq: "PLUS"), a leader in
internet based procurement, asset management, and business process services,
today announced that it has acquired SourceOne Computer Corporation, a
technology sales and services company located in Silicon Valley.
"The acquisition of SourceOne gives ePlus a stronger presence in the western
United States." stated Phillip G. Norton, ePlus' president, chairman, and chief
executive officer. "With experienced management, an established customer base,
and an excellent operating platform, SourceOne will be able to successfully
cross-sell ePlus' e-commerce and financial services. We are very excited to have
SourceOne become an integral part of our company and we welcome its employees
and customers to ePlus."
Robert Nash, chief executive officer of SourceOne commented "We believe ePlus'
business model provides our customers the e-commerce and business process
services they have demanded. ePlus' products and services will enable us to
dramatically expand SourceOne's offerings and value to customers, which will
give SourceOne a significant advantage over the competition and allow us to
better service our customers and grow profitability."
The acquisition of SourceOne will add approximately 100 customers to ePlus'
customer base and add 9 additional salesman in the Silicon Valley Area.
About ePlus:
ePlus is a leading provider of Web-based e-procurement, asset management,
financing solutions and eContent management and outsourcing. The ePlusSuite of
products and services is comprised of Procure+, MarketBuilder, Manage+,
Finance+, Service+, and the ePlusMarket, to help today's businesses dynamically
streamline, improve, and gain management control. ePlus also has an eContent
creation and management suite of products. ePlus solutions integrate and
automate the supply chain process from requisition to approval, fulfillment,
financing and asset management.
Founded in 1990, the company is headquartered in Herndon, VA and has more than
25 locations in the US. For more information, visit our website at
www.eplus.com, call 800-827-5711 or email to info@eplus.com.
-1-
ePlus(TM), ePlusSuite(TM), Procure+(TM) , Manage+(TM) , Service+(TM), B14ZR(TM),
OneSource(TM), OneReq(TM), CLG(TM) and MarketBuilder(TM) are trademarks of ePlus
inc. Finance+SM is a registered service mark of ePlus inc.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: The statements contained in this release, which are not historical facts,
may be deemed to contain forward-looking statements. Actual and anticipated
future results may vary due to the following risks and uncertainties, including,
without limitation, general economic conditions; fluctuations in operating
results; its ability to effectively manage future growth, to retain and
efficiently integrate our executive management team, and to identify, hire,
train and retain, in a highly competitive market, individuals highly skilled in
the Internet and its rapidly changing technology; the lack of long-term
contracts in certain business units; its ability to enter into and retain its
existing, strategic relationships; market acceptance; rapid technological
change; a decline in Internet usage and intense competition in its market; its
ability to effectively integrate the operational, managerial and financial
aspects of the ProcureNet acquisition and future acquisitions; demand and
competition for the Company's lease financing, equipment sales, asset management
and software licenses and services, and the products to be leased or sold by the
Company; the continued availability to the Company of adequate financing
including permanent non-recourse and recourse debt, and working capital lines of
credit; the ability of the Company to recover its investment in equipment
through remarketing; the successful execution of its e-commerce strategy; the
amount of equipment ordered, purchased and/or leased by its customers; and other
risks or uncertainties detailed in the Company's Securities and Exchange
Commission filings. Investors are cautioned that current financial results may
not be indicative of future results.
-2-