Further details of these undertakings, including the circumstances in which certain of these undertakings lapse or can be withdrawn, are set out in the Announcement: "Recommended Proposals for the Cash Acquisition of NSB by Epicor" made today in the United Kingdom.
Epicor expects the acquisition to be materially accretive to Epicor's non-GAAP earnings for the 12 month period following the close of the transaction.(1) Based on expectations for additional amortization of intangible assets due to the acquisition, Epicor expects the acquisition to be dilutive to GAAP earnings for a period of time following the close of the transaction. David Henning, NSB's current CEO, is expected to remain with the combined company in an executive management role heading Epicor's expanded retail business.
"We believe that NSB is an excellent next step in our stated commitment to grow Epicor both organically and through highly strategic and accretive acquisitions to create a larger, stronger and more profitable company," said Epicor Chairman and CEO George Klaus.
"Over the past five years, we have successfully completed four acquisitions of ever increasing scale and integrated each one on a timely basis while meeting our financial and technology commitments and providing value to our customers, employees and shareholders.
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The NSB Group provides a complete range of proven software and hardware solutions to apparel, specialty, and department store retailers.
Epicor, named one of FORTUNE magazine's 100 Fastest-Growing Companies in 2006, is a global leader dedicated to providing integrated enterprise resource planning (ERP), customer relationship management (CRM), supply chain management (SCM) and professional services automation (PSA) software solutions to the midmarket and divisions of Global 1000 companies.
Epicor Software Corporation
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