PRESS RELEASE
Emphasys acquires Application Oriented
Designs, Inc.
PETOSKEY, MICHIGAN - May 13, 2004
- Emphasys Computer Solutions, Inc. (Emphasys), the leading provider
of business management software to public housing authorities (PHAs),
announced today that it has acquired Application Oriented Designs,
Inc. (AOD), the foremost software development company for housing
finance agencies (HFA).
"We are very excited about this
acquisition and what it means for our customers," said Mike Byrne, CEO
for Emphasys. "AOD's expertise in the HFA market combined with our
knowledge of the PHA market will allow Emphasys to offer all of our
clients a unique combination of complementary products."
Together the two companies will provide a
range of products and services not before offered by a single
organization. Emphasys can now provide not only the operational
support for housing program management, but also the financial tools
to assist agencies in managing multiple funding sources which many
innovative agencies now require.
Maria Tornes, founder and President of
AOD, said, "This is an excellent match between companies, and our
product lines will complement each other very effectively. Now we
have a suite of products that addresses operational as well as
financial needs never before offered to PHAs and HFAs."
For over 20 years, AOD has been providing
software solutions to HFAs and has achieved a dominant position among
State HFAs as the vendor with the strongest functional suite of
products. In the State market of 50 agencies, AOD is proud to count
29 of them as their clients. Many have been with AOD for over two
decades.
AOD has developed and offers a range of
proven financial related software products including Multifamily,
Single Family and Financials. The Multifamily suite allows for
allocations and compliance of grants and tax credits, loan servicing
and soon, asset management. The Single Family suite provides for all
aspects of the homeownership program from reservation to portfolio
management and the ability to do direct servicing of loans. The
Financials suite is the backbone of all the modules and provides
bond-related finance management and reporting.
With this acquisition comes a staff
possessing a wealth of knowledge, experience and industry expertise.
All AOD staff, including Ms. Tornes, will stay on and their Miami
office will remain open.
"In the past, we have had the chance to
work closely with AOD on several major opportunities," Mr. Byrne said
at a recent company meeting. "Their reputation is outstanding and the
staff at AOD is second to none. They will fit right in with the rest
of the Emphasys team and we're very pleased to formally welcome them
to our organization."
About Application Oriented Designs, Inc.
Based in Miami, Florida, AOD is a well-established developer of
software for the housing finance industry. For over 20 years, AOD
has been providing its clients with user-friendly and cost-effective
software solutions that meet housing finance agencies' requirements,
incorporate federal regulatory guidelines and provide the needed
flexibility to accommodate a variety of new program structures. They
have over 30 clients nationwide and their product lines include suites
for HFA financials, Single Family and Multifamily. For more
information about AOD, visit
http://www.aodusa.com
About Emphasys Computer Solutions,
Inc.
Emphasys is the leading provider of business software designed
specifically for the public housing and redevelopment marketplace.
Emphasys products are used by over 240 agencies across North America
and help administer over one million HUD subsidized units. In
addition to application software, Emphasys provides a full range of
integration services from the initial requirements definition and
workflow analysis through data conversion, training, go-live, and
post-implementation phases. For more information about Emphasys and
its products, visit
http://www.emphasysworld.com
CONTACT:
Greg Gagnon
Emphasys Computer Solutions, Inc.
(231) 347-8787
Fax (231) 347-2639
www.emphasysworld.com
|
