St. Louis, Missouri, October 5, 1993 Data Research Associates, Inc. (NASDAQ: DRAI) today announced that it had completed its purchase of certain assets of INLEX, Inc., a library automation corporation based in Monterey, California. The transaction was valued at approximately $1.5 million, including $1 million in cash and approximately $500,000 in the assumption of prepaid customer support.
The assets purchased include INLEX/3000, a Hewlett Packard-based library automation system, and all related intellectual property rights; all rights for the sales, licensing and distribution of certain third-party hardware and software products; and all rights and obligations under each of INLEX's customer support agreements.
Data Research accepted 104 contract transfers from sites using the INLEX/3000 system. Annual revenues from these contracts are approximately $1.2 million. At the time of the purchase, 13 INLEX employees became employees of Data Research. E. Judith Sulsona, former acting president of INLEX, was appointed branch manager/INLEX by Data Research.
Data Research, headquartered in St. Louis, is a leading systems integrator, providing its own proprietary information services software as well as third-party software and hardware, networking services and other related services to libraries and other information providers.