Press Release
- Date:
- Tuesday, July 22, 2003
- Contact:
- Mark Funston
- Phone:
- (301) 731-2300
- Email:
- mark_funston@g1.com
Group 1 Reports Adjournment of Sagent's Special Stockholders Meeting to July 28, 2003
Lanham, MD -- Group 1 Software today reported that it was informed that a quorum was not present at today's Sagent (Nasdaq: SGNT_OB — News) Special Stockholders' Meeting. Group 1 was further informed that the Special Stockholder's Meeting was adjourned to July 28, 2003. Sagent's stockholders were asked to approve among other propositions, the purchase of Sagent's key assets by Group 1 Software. On April 16, 2003, Group 1 announced that it had entered into a purchase agreement to acquire the key assets of Sagent Technology, Inc.
Andre Boisvert, Chairman of the Board said, "there is no doubt that my board colleagues and I are very disappointed in the low shareholder voting to date." "Our disappointment does not stem from any movement to block the proposed transactions, since to date there has been a 25:1 ratio in favor among the shareholders that have exercised their right to vote," added Boisvert, "but rather a concern that shareholder apathy seems to have set in."
"We share Mr. Boisvert's disappointment, but remain fully committed to completing the Sagent transaction," said Bob Bowen, Group 1 Software's CEO. "We look forward to adding Sagent's talented individuals, powerful technology, strong customers, and global distribution channels to the Group 1 family."
About Group 1 Software Group 1 Software is a leading provider of software solutions for data quality, marketing automation, customer communications management and direct marketing applications. Group 1's software systems and services enable over 2,000 customers worldwide to market smarter by helping them find, reach and keep customers. Founded in 1982 and headquartered in Lanham, Maryland, Group 1's solutions are utilized by leaders in the financial services, banking, retail, telecommunications, utilities, e-commerce, and insurance industries. The company's customer base includes such recognized names as Charles Schwab, Entergy, GEICO, L.L. Bean, QVC and Wal-Mart. For more information about Group 1, visit the company's Web site at http://www.g1.com.
This press release contains forward-looking statements relating to Group 1's future plans, events or performance. Such statements can be identified by such words and phrases as "fully committed." Such statements may involve risks and uncertainties, including risks associated with uncertainties pertaining to customer orders, demand for products and services, development of markets for Group 1's products and services and other risks identified in Group 1's SEC filings. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which address the conditions as they are found on the date of this press release. Group 1 undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances that arise after the date of this press release or to reflect the occurrence of unanticipated events. Group 1 Software is a registered trademark of Group 1 Software, Inc. All other brand names, trademarks and registered trademarks are the property of their respective owners.