-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, N2anRBdEZz41lVamiOh5DnNmyJQBSDQCY9IaNU3+OLmhIuyTbvckwcYr8SE5ew9e tZDRyuKX60jANPHVMyTXtA== 0001144204-04-004393.txt : 20040406 0001144204-04-004393.hdr.sgml : 20040406 20040406121158 ACCESSION NUMBER: 0001144204-04-004393 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040315 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040406 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AUTO DATA NETWORK CENTRAL INDEX KEY: 0001029762 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 133944580 STATE OF INCORPORATION: DE FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-24609 FILM NUMBER: 04719686 BUSINESS ADDRESS: STREET 1: 1 ROCKEFELLER PLAZA - SUITE 1600 CITY: NEW YORK STATE: NY ZIP: 10020 BUSINESS PHONE: 2125214497 MAIL ADDRESS: STREET 1: 1 ROCKEFELLER PLAZA - SUITE 1600 CITY: NEW YORK STATE: NY ZIP: 10020 FORMER COMPANY: FORMER CONFORMED NAME: MEDIC MEDIA INC DATE OF NAME CHANGE: 19980626 8-K 1 v02520.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ------------------------------------------------------------------ FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of Earliest Event Reported): MARCH 15, 2004 AUTO DATA NETWORK, INC. --------------------------------------------------------------- (Exact Name of Registrant as Specified in Charter) DELAWARE 000-24609 13-3944580 --------------------------- ---------------------- ------------ (State or Other Jurisdiction (Commission File Number) (IRS Employer of Incorporation) Identification No.) 5 CENTURY PLACE, LAMBERTS ROAD, TUNBRIDGE WELLS, KENT, UNITED KINGDOM TN2 3EH ------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: 011 44 1892 511 566 N/A ----------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) ITEM 5. OTHER EVENTS. Press Release On March 15, 2004, Auto Data Network, Inc. issued the press release attached hereto as Exhibit 99.1 regarding the closing of its acquisition of a one-third equity interest in DCS Automotive Holdings Limited for $11 million and its right to purchase the remaining two-thirds equity interest in DCS Automotive Holdings Limited upon the completion of certain financial performance criteria by DCS Automotive Holdings Limited. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (a) and (b) Not Applicable (c) Exhibits. The following exhibits are filed with this report: 99.1 Press Release, dated March 15, 2004, of Auto Data Network, Inc. [remainder of page intentionally left blank; signature page follows] SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AUTO DATA NETWORK, INC. (Registrant) By: /s/ Christopher R. Glover ----------------------------------- Name: Christopher R. Glover Title: Chief Executive Officer Dated: April 6, 2004 EXHIBIT INDEX 99.1 Press Release, dated March 15, 2004, of Auto Data Network, Inc. EX-99.1 3 v02520_ex991.txt Exhibit 99.1 PRESS RELEASE Source: Auto Data Network, Inc. AUTO DATA NETWORK ANNOUNCES INVESTMENT IN DCS AUTOMOTIVE - EUROPE'S LARGEST DEALER MANAGEMENT SYSTEMS PROVIDER Monday March 15, 9:20 am ET Company Cites Opportunity for its "DMS Plus" With DCS' 11,000 Clients NEW YORK--(BUSINESS WIRE)--March 15, 2004--Auto Data Network Inc. (OTCBB:ADNW - News), a provider of software and real-time data services to the automotive industry, today announced that it has invested $11 million in DCS Automotive, Europe's largest dealer management system (DMS) provider and a division of DCS Group, PLC., for a one-third equity interest. Under the terms of the investment, ADN has the right to purchase the remaining two-thirds equity interest in DCS Automotive upon the completion of certain financial performance criterion by DCS. Auto Data Network Chairman, Chris Glover, commented, "This is an extremely important transaction for ADN as it marks our entrance into the dealer management system (DMS) segment of our market. Over the last twelve months, we have acquired companies that have added depth to our 'DMS Plus' offering. The addition of DCS provides a substantial channel to our product offering." Mr. Glover continued, "DCS is the leading provider of DMS systems in France, Germany and Switzerland with in excess of 11,000 clients - this client base is in the same range as market leaders Reynolds and Reynolds (NYSE:REY - News) and ADP automotive (NYSE:ADP - News). Revenues from DCS' existing business are projected to reach $60 million this year. Our incremental opportunity is to overlay our 'DMS Plus' product range to DCS' client base." Upon the exercising of ADN's right to purchase the remaining two thirds of DCS Automotive, Stephen Yapp, CEO of DCS Automotive's parent DCS Group plc, will join ADN's board of directors. About Auto Data Network Auto Data Network is a group of established companies which provide software products and services to the automotive industry. The company's main customer base is the auto dealership marketplace. This marketplace consists of approximately 78,000 dealers in North America and 92,000 dealers in Europe. The company estimates that this represents a $15 billion market for Software and Services specifically for auto dealerships. The company supplies a suite of software solutions and services that enable dealerships to run their businesses more efficiently whilst achieving considerable cost savings. The majority of the company's current solutions is focused on serving the aftermarket and finance areas of dealerships. These areas are of particular importance as the aftermarket business is responsible for 48% of a dealerships profit from 12% of their overall revenue. The second most profitable area is vehicle finance and insurance this area contributes 35% of profits from 2% of revenues. About DCS Automotive DCS Automotive is European leader in the provision of IT business solutions to the automotive retail sector in Europe. Established in 1976, DCS Automotive has evolved from a supplier of dealer management systems and now specializes in flexible, connective technologies and services designed exclusively for the automotive industry. DCS Automotive has offices in the UK, France, Germany, Spain, Switzerland and Asia, as well as agents and representations throughout the rest of the world. Its customers include the world's leading manufacturers, distributors and retail motor groups, including Renault, Volkswagen, BMW and leading distributor groups across Europe. This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the Company's business including increased competition; the ability of the Company to expand its operations through either acquisitions or internal growth, to attract and retain qualified professionals, and to expand commercial relationships; technological obsolescence; general economic conditions; and other risks detailed time to time in the Company's filings with the Securities and Exchange Commission (SEC). Contact: Auto Data Network, Inc. Sue Allwork, 01144 1892 511 566 info@autodatanetwork.com or Investor Relations Contact: Walls Street Investor Relations Corp. Joe Zappulla, 212-681-4100 jzappulla@wallstreetir.com Source: Auto Data Network, Inc. -----END PRIVACY-ENHANCED MESSAGE-----