Ross Systems Closes Ranks For A (Possible) Turnaround
P.J. Jakovljevic - March 13, 2001

Event Summary

On February 5, Ross Systems, Inc. (NASDAQ: ROSS), a provider of ERP and e-business solutions for mid-market process manufacturers, reported the signing of a definitive sale agreement for certain assets related to its Human Resource and Payroll product line to NOW SOLUTIONS, LLC, a private company. Ross at the same time executed a distribution agreement with NOW to continue to sell the product under license from NOW as a complement to its enterprise systems for process manufacturing companies. The gross asset sale price of $6.1 million excludes incentives. After fees and expenses the company expects the transaction to generate a non-recurring gain on the sale of approximately $3.7 million before incentives...