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Data Research signs letter of intent to acquire INLEX Library Automation Systems (financial release)

Press Release: Data Research Associates, Inc. [January 28, 1993]

January 28, 1993 - Data Research Associates, Inc. (NASDAQ:DRAI) today announced that it has signed a Letter of Intent for the purchase of the library automation systems and other related assets of Inlex, Inc. Data Research intends to purchase the assets for an undisclosed cash amount, subject to the execution of a definitive asset purchase agreement and other conditions.

The proposed assets to be purchased include Inlex's automation systems software; all rights for the sales, licensing and distribution of Inlex's third-party products; all rights and obligations under each of Inlex's support agreements; and all intellectual property rights related to Inlex's automation system.

Inlex is headquartered in Monterey, California. Its automation system is installed at more than 110 customer sites.

"This proposed purchase combines the complementary technological capabilities of two leading library automation vendors," said Michael J. Mellinger, Chairman and CEO of Data Research. "During our negotiations, we have emphasized the ability to provide Inlex customers with the highest levels of ongoing service and support. We recognize the enthusiasm and loyalty of the Inlex customer base and we affirm our commitment to the Inlex product line.

"In addition, we will make our best efforts to retain the high level of expertise that is represented in Inlex's current staff. Corporate continuity both internal and in relationships with customers has been and will continue to be one of our highest priorities."Data Research is a leading provider of library automation systems, electronic networkingservices and other related services for libraries and other information providers. DataResearch is headquartered in St. Louis, Missouri.

View Citation
Publication Year:1993
Type of Material:Press Release
Language English
Issue:January 28, 1993
Publisher:Data Research Associates, Inc.
Place of Publication:St. Louis, MO
Company: Data Research Associates, Inc.
Products: DRA
Subject: Mergers and acquisitions
Online access:
Record Number:6802
Last Update:2024-04-27 23:27:47
Date Created:0000-00-00 00:00:00