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| ...Back To The Press Releases |
| CenterStone Technologies acquires Indra Technology |
| 1/9/2006 |
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Denver, Colo. – January 9, 2006, CenterStone Technologies, Inc., an internationally recognized developer of Web-based sales order management software for vendors that sell consumer brands through specialty retail channels, today announced the purchase of the assets of former competitor, Indra Techchnology, Inc., headquartered in San Diego, California.
CenterStone has helped a long list of well-known consumer brands increase their sales and dramatically reduce their cost of doing business. The company’s Web-based, B-2-B application has an immediate bottom-line impact with clients in many industries including: outdoor recreation, snow sports, lifestyle apparel, footwear, fashion apparel & accessories, cycling, fly fishing, sporting goods, action sports and surf. Indra Technology’s Escape™ application is the dominant one in the golf industry and the custom, decorated apparel business, and it is used by sales reps to place orders on behalf of specialty retailers and green grass shops. Clients of Indra Technology’s Escape™ application include VF Imagewear, Perry Ellis Intl. (NASDAQ: PERY), Spalding Sports Worldwide Inc.
(a division of Russell Corporation), Aqua Lung America, Cleveland Golf, Tehama, IZOD G, The BagBoy Company, Fairway & Greene, Bette & Court, Tail Inc. Lillies of Beverly Hills and Imperial Headwear among others.
Tom Detmer, president and C.E.O. of CenterStone Technologies, commented, “We are very happy that we have been able to bring our two companies together. Indra Technology brings a great team of people and a superb technology with them in this combination. We had already identified the golf industry and the embroidered apparel business as potential growth areas for our business, and as we explored these new markets, we learned that Indra Technology was the recognized leader with a very impressive client list. We very quickly realized that it made the most sense to bring our two companies together. Most importantly, our two technology platforms complement each other extremely well. The Escape™ sales rep solution is second-to-none and is a perfect match with CenterStone’s iVendix, B-2-B on-demand application.”
Jim Beavers, COO of Indra Technology stated, “Today's web-enabled business environment is global. It also requires a technology platform that empowers sales reps as well as a solution that allows specialty retailers to collaborate with their sales reps. CenterStone provides us with access to a global market with their strong presence in Europe. They also provide our existing Escape™ clients with the gold standard, Web-based, B-2-B solution for their retail dealers. This is a big step forward for both companies, and I’m very happy for the employees, customers and shareholders of Indra Technology as well as the future of Escape™. The combination of CenterStone and Indra will enable us to be more effective in delivering high quality solutions and services to our clients in both North America and Europe. CenterStone’s globally-enabled B-2-B sales order management solution currently serves more than 25, 000 specialty retailers and many 1,000s of sales reps and will now be accessible to Indra’s Escape™ clients. It’s a perfect combination of product and resources.”
Detmer went on to say, “We believe that our expertise in lifestyle apparel, footwear, sporting goods and outdoor recreation will complement their experience in the golf industry and their technology that is focused on sales reps that Indra brings to the table. In addition, their elegant technology solution for custom logo’d apparel and embroidery has been requested by numerous existing CenterStone clients and prospective clients. Indra is helping CenterStone immediately fulfill this market need. We estimate that the combined Sales Order Management applications of CenterStone and Indra will process over $1 billion in sales in the coming year for numerous industry leaders. This combination of CenterStone and Indra Technology is all about bringing superior sales information solutions to more and more clients. Ultimately, we will be helping the vendors, the retailers, and the sales reps in the industries that we serve bec ome more efficient, more accurate and more profitable.”
About CenterStone Technologies, Inc.:
CenterStone Technologies, Inc. provides Web-based sales order management applications in North America and Europe. The application gives retail dealers and sales reps the ability to view online catalogs and product availability, create sales proposals and to place preseason, reorders, and retail employee orders more effectively and efficiently with their vendors. CenterStone Technologies makes vendors more competitive by providing increased inventory turns at retail, reduced customer service costs, and greater speed to market, thus improving
relationships with their customers – retail dealers.
Brands currently making the CenterStone Technologies solution available to their retail customers and sales reps include: The North Face, part of VF Corporation (NYSE: VFC); Pearl Izumi, a division of Nautilus, Inc. (NYSE: NLS); Marmot Mountain, Ex Officio and Marker Apparel, part of K2 Corporation (NYSE: KTO); Helly Hansen; RipCurl; Billabong; Sport Obermeyer; Smith Optics; Garmont; KHS Bicycles; Dale of Norway and others. Product availability and orders for these brands are exchanged between retail dealers, sales reps and vendors’ back office (ERP) systems. Additional information about CenterStone Technologies, Inc. can be found on the company’s Web site at www.centerstonetech.com.
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