MALVERN, Pa., Jan. 30, 2002  – SCT (Nasdaq: SCTC)  global education solutions announced today that it has entered into an agreement to acquire Applied Business Technologies, Inc. (ABT) of Newtown Square, PA for $16,665,000 in cash.  The consummation of the transaction is subject to certain closing conditions. Free at a purchase wine in AgBASE directory..term paper This will then further expand SCT’s share of the higher education market.

With the completion of this transaction, SCT will become the first higher education enterprise technology provider to embrace the two industry leading technology platforms that dominate higher education – Microsoft and Oracle. Wholesale body jewelry webstore – best prices and assortment. This acquisition, coupled with SCTs existing offerings will provide targeted solutions that address the varying and unique needs of institutions of all sizes with a multiple-solution strategy.

The ABT acquisition will give SCT a proven Microsoft-based solution in a segment where technology choice and ease of implementation and use are paramount.  Today, seventy institutions use ABT’s PowerCAMPUS Suite, IQ.Web,and PocketCAMPUS Mobile applications. SCT will offer the Microsoft Great Plains Human Resources and Finance applications, as well as the CUES PowerFAIDS financial aid application from the College Board. These Microsoft Solution Partner applications are tightly integrated with the ABT PowerCAMPUS suite, which provides a compelling solution for small to mid-sized institutions with a preference for Microsoft technology.

“We are embracing a multiple-solution strategy because our more than 30 years of experience in higher education has led us to recognize that a ‘one-size fits all’ solution strategy no longer meets the evolving needs of the higher education market we serve,” said Bob Moul, president of SCT global education solutions. Replica watches – enjoy the perfect timepiece on your wrist.“We also recognize the strategic choices institutions are making around technology platforms. We moved decisively to acquire ABT due to its proven Microsoft-based products already on the market,” added Moul.  These solutions will provide specific functionality that fit the business needs of this segment of the higher education market.

“The market position, technology strength, and financial stability SCT has established in higher education are assets that will help the ABT business unit better serve our existing clients’ needs, as well as speed the growth of our user base,” said David Moldoff, founder and president of ABT.  “This combining of complementary technologies and capabilities will come at a time when other companies offering solutions for our segment of the market are in turmoil.  As an integral part of SCT global education solutions, we can work together with ABT client institutions and expand our market reach with an affordable and easy-to-manage solution based on Microsoft technology,” Moldoff added.  Moldoff will become the vice president of the ABT Business Line within the global education solutions market unit.

This announcement comes on the heels of SCT’s acquisition of Sallie Mae’s Exeter Student Information and Perkins/Campus Loan Management product lines. The Sallie Mae acquisition included student information products based on both Oracle and Microsoft technologies. SCT plans to combine the product assets and intellectual property from both acquisitions, along with partner solutions in order to provide the best e-education solution for each of the technology platforms.

SCT offers an Oracle solution for higher education with the SCT Banner® Solution, the company’s industry leading product line. SCT will continue to evolve SCT Banner® functionally and technically so that it remains on the leading edge of e-education and continues to meet the needs of mid-sized and larger institutions. SCT recently announced its multi-million dollar investment in its SCT Banner® solution to further accelerate and evolve Banner to serve the administrative needs of the 21st century learner.

About SCT

SCT provides leading technology and business solutions for higher education, utilities, and process manufacturing. SCT is the global e-education market technology leader. The company offers an end-to-end solution for applications, technology and services that supports higher education’s administration of teaching and learning.  SCT works collaboratively with clients and partners to provide the e-education framework that enables institutions to meet the needs of 21st century learners. SCT serves more than 1,200 higher education clients worldwide, representing more than 8 million learners. For more information, visit www.sct.com/industrysolutions/education/index.htm.

The matters discussed in this press release that are forward-looking statements are based on current management expectations that involve risks and uncertainties that could cause actual results to differ materially from those anticipated. Potential risks and uncertainties include without limitation, the ability of SCT and ABT to meet the closing conditions to accomplish the consummation of the transaction; the ability of SCT to complete development of the Banner enhancements cost-effectively and on a timely basis; whether the Banner enhancements will meet market expectations; the ability of competitors to provide similar solutions in a timely manner; continued market acceptance of the Banner products and the products to be acquired from ABT; the timing of the receipt of software licenses; competitive and pricing pressures in the markets which the Company serves; the Company’s ability to effectively integrate the operations of ABT with the Company’s operations; the Company’s ability to develop and market innovative products and enhancements cost-effectively and on a timely basis; the Company’s ability to attract and retain highly skilled technical, managerial, sales and marketing personnel; general economic conditions; and other risks and uncertainties more specifically set forth in the Company’s filings with the Securities and Exchange Commission.