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PRNewswire: Investment Group Acquires Pick Systems

Mar 29, 2000, 21:29 (1 Talkback[s])

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"New Management Team Offers Solid Financial Backing And Renewed Strategic Vision for Growth."

"Pick Systems Inc., a leading developer of multi-user, multi-value database management system (DBMS) software, announced it has been acquired by the Pick Acquisition Company (PickAx), an investment group led by Gil Figueroa with financial backing by Astoria Capital and Devonshire Holdings. The acquisition includes all of the stock owned by the estate of Richard Pick, the original founder of Pick Systems and developer of its core technology. As a result of the acquisition, a new Board of Directors has been appointed and a new senior management team has been named."

"Figueroa, who served as Pick Systems' executive vice president from 1987 through 1991, will head up a new management team as the company's chief executive officer (CEO) and president."

"Pick Systems is the developer of D3, the firm's latest-generation multi-user, multi-value database management system. D3 is an open system that supports ODBC, SQL and OSFI standards. D3 runs on a wide spectrum of hardware, including personal computers, midrange systems, and massively-parallel computing systems, and is available for the major varieties of UNIX, including IBM AIX, Hewlett-Packard UX, SCO OpenServer and UnixWare 7, Sun Solaris, and Red Hat Linux and Linux-Mandrake."

Press release.