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chinadotcom Provides Update on Ross Acquisition
HONG KONG, Oct. 31 /PRNewswire-FirstCall/ -- chinadotcom corporation (Nasdaq:
CHINA; http://www.corp.china.com/), an integrated enterprise solutions and
software company, today announced that the waiting period under the Hart-
Scott-Rodino Antitrust Improvements Act of 1976 has expired, in relation to the
previously announced agreement for chinadotcom to acquire Ross Systems, Inc.
("Ross") . The expiration of this waiting period satisfies one of the
conditions for chinadotcom's acquisition of Ross. The transaction remains
subject to other customary closing conditions, including approval by Ross'
shareholders, and is expected to be closed no later than Q1 2004.
The Hart-Scott-Rodino filing was made on September 22, 2003. The waiting period
commenced on September 26, 2003 and expired on October 27, 2003.
About chinadotcom corporation
chinadotcom corporation (Nasdaq: CHINA; Website: http://www.corp.china.com/) is
a leading integrated enterprise solutions and software company offering
technology, marketing, mobile and media services for companies throughout
Greater China and the Asia-Pacific region, the US and the UK. With operations
in 10 markets and over 1,000 employees, the companies under the chinadotcom
group have extensive experience in several industry groups including finance,
travel and manufacturing, and in key business areas, including e-business
strategy, packaged software implementation and development, precision marketing
and supply chain management. chinadotcom leverages this expertise with alliances
and partnerships to help drive innovative client solutions.
CDC Software is a wholly owned subsidiary and software unit of chinadotcom
corporation (Nasdaq: CHINA; Website: http://www.corp.china.com/), an integrated
enterprise software and solutions company in Asia. CDC Software integrates a
series of chinadotcom's self-developed products engineered in two software
development centers in China, which include PowerBooks, PowerHRP (Human
Resources and Payroll), PowerATS (Attendance Tracking System), Power-eHR,
PowerPay+, PowerCRM and Power eDM (a double-byte e-mail marketing technology).
In addition, the company also broadens its offerings in software arenas by
establishing strategic partnerships with leading international software vendors
to localize and resell their software products throughout the Asia Pacific
region.
In 2003, the software development processes of CDC Software's Development Center
in Shanghai have successfully achieved Capability Maturity Model ("CMM") Level
3, an internationally recognized standard for software development. The new
certification should bolster CDC Software's outsourcing strategy of offering its
own Software Development Center capabilities in China as an outsourcing conduit
for low-cost, high-quality software development for internationally established
software companies, that are looking to reduce their overall Research and
Development costs as part of its overall restructuring initiatives.
chinadotcom's software arm currently has over 1,000 customer site installations
and 600 enterprise customers located throughout the Asia Pacific region.
Selected multinational and domestic customers include ACNeilsen, Carrefour,
Legend Computer, Microsoft (China) Co. Ltd., Shenzhen Airlines, Swire Beverages,
Shangri La Hotels and Resorts and Starwood Hotels and Resorts.
chinadotcom also established CDC Outsourcing, which allows for elements of
workflow such as client and project management to be provided in the contracted
country (i.e. UK, US or Australia), with technology and applications sourced
from either of the company's low-cost, CMM-certified outsourcing centers in
China or India.
In its Mobile and Portals unit, the company operates popular news, email and
consumer service portal websites in China, Hong Kong and Taiwan. Through the
recent acquisition of Newpalm (China) Information Technology Co., Ltd.
("Newpalm"), the company now offers consumer-based and enterprise-based SMS and
mobile application software development services. Newpalm is a wholly- owned
subsidiary of hongkong.com Corporation, a mobile applications and portal arm and
81%-owned subsidiary of chinadotcom.
For more information about chinadotcom corporation and CDC Software, please
visit the Web site http://www.corp.china.com/ .
About Ross Systems
Ross Systems, Inc. (NASDAQ:ROSS) delivers innovative software solutions that
help manufacturers worldwide fulfill their business growth objectives through
increased operational efficiencies, improved profitability, strengthened
customer relationships and streamlined regulatory compliance. Focused on the
food and beverage, life sciences, chemicals, metals and natural products
industries and implemented by over 1,000 customer companies worldwide, Ross
Systems' family of Internet-architected solutions is a comprehensive, modular
suite that spans the enterprise, from manufacturing, financials and supply chain
management to customer relationship management, performance management and
regulatory compliance.
Publicly traded on the NASDAQ since 1991, Ross System's global headquarters are
based in the U.S. in Atlanta, Georgia, with sales and support operations around
the world. For more information about Ross Systems, please visit
http://www.rossinc.com/.
Ross Systems and its directors, executive officers and employees may be
soliciting proxies from its stockholders to vote in favor of the transaction.
Information concerning persons who may be considered participants in the
solicitation of Ross Systems' stockholders under SEC rules is set forth in the
Annual Report on Form 10-K filed for the year ended June 30, 2003 filed by Ross
Systems with the SEC on September 24, 2003.
Additional Information about the Proposed Merger and Where to Find It
chinadotcom and Ross have filed a proxy statement/prospectus with the Securities
and Exchange Commission in connection with the transaction. Ross expects to mail
the proxy statement/prospectus to shareholders of Ross. These documents contain
important information about the transaction, and investors and security holders
are urged to read these documents carefully because they contain important
information about CDC Software and Ross. Investors and security holders can
obtain free copies of the proxy statement/prospectus and other relevant
materials, and any other documents filed by chinadotcom or Ross through the
website maintained by the Securities and Exchange Commission at
http://www.sec.gov/. Investors and security holders of Ross are urged to read
the proxy statement/prospectus and the other relevant materials before making
any voting or investment decision with respect to the proposed merger.
Safe Harbor Statements
This press release includes certain "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform Act of 1995.
These statements are based on chinadotcom management's current expectations and
are subject to risks and uncertainties and changes in circumstances. All
forward-looking statements included in this press release are based upon
information available to chinadotcom as of the date of the press release, and it
assumes no obligation to update or alter its forward looking statements whether
as a result of new information, future events or otherwise. Further information
on risks or other factors that could affect chinadotcom's results of operations
is detailed in its filings with the United States Securities and Exchange
Commission, including the Annual Report for the year ended December 31, 2002 on
Form 20-F filed on June 16, 2003 and the Form 6-K filed on October 3, 2003 which
contain revised and updated sections of the Form 20-F.
DATASOURCE: chinadotcom corporation
CONTACT: media, Jane Cheng, Public Relations Manager, +852-2961-2750, or
fax, +852-2571-0410, or , or investors, Craig Celek,
Vice President, Investor Relations, +1-212-661-2160, or fax, +1-973-591-9976,
or , both of chinadotcom corporation
Web site: http://www.rossinc.com/
Web site: http://www.corp.china.com/