CenterStone Technologies Acquires Indra Technology

CenterStone Technologies, Inc., an internationally recognized developer of Web-based sales order management (SOM) software for vendors that sell consumer brands through specialty retail channels, announced the purchase of the assets of former competitor, Indra Technology, Inc., of San Diego, Calif. CenterStone headquarters will remain in Denver; Indra offices will become the west coast branch of newly joined operations.
“This combination of CenterStone and Indra Technology is all about bringing superior sales information solutions to many more clients. Ultimately, we will be helping both the vendors and the retailers in the industries that we serve become more efficient, more accurate and more profitable,” CenterStone’s president and chief executive officer Tom Detmer said.
CenterStone has helped a long list of well-known consumer brands increase their sales and dramatically reduce their cost of doing business. The company’s Web-based, B-2-B application has an immediate bottom-line impact with clients in many industries such as outdoor recreation, snow sports, lifestyle apparel, footwear, fashion apparel & accessories, cycling, fly fishing, sporting goods, action sports and surf. Indra Technology’s Escapeâ„¢ application is dominant in the golf industry and the custom/decorated apparel business, and it is used by sales reps to place orders on behalf of specialty retailers and green grass shops. Clients of Indra Technology’s Escapeâ„¢ application include well-known VF Imagewear, Perry Ellis Intl. (NASDAQ: PERY), Spalding Sports Worldwide Inc. (a division of Russell Corporation), Aqua Lung America, Cleveland Golf, Fairway & Greene, Tehama and Imperial Headwear and many others.
“Our two companies blend a great team of people and a superb set of client solutions with them. We identified the golf industry and the embroidered apparel business as potential growth areas for CenterStone; it was apparent that Indra Technology was the recognized leader with a very impressive client list. Our two technology platforms, Indra’s Escapeâ„¢ sales rep solution and CenterStone’s iVendix, a B-2-B on-demand application, are a powerful combination toward successful results for vendors, sales reps and specialty retailers,” Detmer said.
Jim Beavers, COO of Indra Technology stated, “Today’s web-enabled business environment is global. It also requires a technology platform that empowers sales reps as well as a solution that allows specialty retailers to collaborate with their sales reps. CenterStone provides us with access to a global market with their strong presence in Europe. They also provide our existing Escapeâ„¢ clients with the gold standard, Web-based, B-2-B solution for their retail dealers. This is a big step forward for both companies, and I’m very happy for the employees, customers and shareholders of Indra Technology as well as the future of Escapeâ„¢. The combination of CenterStone and Indra will enable us to be more effective in delivering high quality solutions and services to our clients in both North America and Europe. CenterStone’s globally-enabled B-2-B SOM solution currently serves more than 25,000 specialty retailers and thousands of sales reps; their ability to serve retailers is greater with new access to Indra’s Escapeâ„¢ clients. It’s a perfect combination of product and resources to bolster and build a unique specialty retail selection.”
“We believe that our expertise in lifestyle apparel, footwear, sporting goods and outdoor recreation will complement their experience in the golf industry and the technology that is focused on sales reps that Indra brings to the table. In addition, their elegant technology solution for custom logoed/licensed apparel and embroidery has been requested by numerous existing CenterStone clients and prospective clients,” Detmer continued. “Indra is helping CenterStone immediately fulfill this market need. We estimate that the combined SOM applications of CenterStone and Indra will process more than $1 billion in sales during 2006 for numerous industry leaders,” he concluded.

Brands currently using CenterStone Technologies applications
Brands currently making the CenterStone Technologies solution available to their retail customers and sales reps include: The North Face, part of VF Corporation (NYSE: VFC); Pearl Izumi, a division of Nautilus, Inc. (NYSE: NLS); Marmot Mountain, Ex Officio and Marker Apparel, part of K2 Corporation (NYSE: KTO); Helly Hansen; RipCurl; Billabong; Sport Obermeyer; Smith Optics; Garmont; KHS Bicycles; Dale of Norway and others. Product availability and orders for these brands are exchanged between retail dealers, sales reps and vendors’ back office (ERP) systems.

About CenterStone Technologies, Inc.
CenterStone Technologies, Inc. provides Web-based sales order management applications in North America and Europe. The application gives retail dealers and sales reps the ability to view online catalogs and product availability, create sales proposals and to place preseason, reorders, and retail employee orders more effectively and efficiently with their vendors. CenterStone Technologies makes vendors more competitive by providing increased inventory turns at retail, reduced customer service costs, and greater speed to market, thus improving relationships with their customers – retail dealers. Additional information about CenterStone Technologies, Inc. can be found on the company’s Web site at www.centerstonetech.com.