Market Overview

AFS Technologies Acquires MEI Computer Technology Group

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PHOENIX--(BUSINESS WIRE)--

AFS Technologies, Inc., the leading provider of integrated software solutions to the consumer packaged goods industry, announced today that it has completed the acquisition of MEI Computer Technology Group, Inc., and its industry-acclaimed TradeInsight trade promotion management planning and forecasting solutions.

“The acquisition of MEI further enhances the position of AFS in the market as the leading industry provider of end-to-end trade promotion optimization solutions for manufacturers in both the retail and foodservice channels,” said Kurien Jacob, CEO of AFS Technologies. “An increasing number of manufacturers in the food and beverage industry are seeking greater automation through technology to better target and optimize trade spending to improve financial returns. The addition of MEI is a further demonstration of our company's long term commitment to deliver best-in-class solutions to our customers.”

“The new combination with AFS brings significant market strength and support to our existing customers and our product offering,” said Lorne Schwartz, President and CEO of MEI. “The unique ability that AFS has demonstrated in delivering continuous product enhancements to the market will ensure that our customers will benefit from an expanded offering of products and services to support business outcome improvement.”

About AFS Technologies, Inc.

AFS Technologies Inc. is the leading provider of business enterprise and on-demand software solutions. The company serves over 1,500 customers across the Americas with a portfolio of solutions for the food, beverage, logistics and financial segments. AFS supply chain solutions and AFS food and beverage solutions are designed to reduce costs, improve efficiency, increase sales and margins, streamline internal processes, facilitate data synchronization, and assist in regulatory compliance. All AFS solutions utilize service-oriented architecture (SOA) built with Microsoft .NET framework technology. With a focus on modular design, the solutions allow customers in manufacturing, sales agencies, distribution, and complex software companies the flexibility to upgrade specific elements of the software without affecting the rest of the system. To match the needs of our diverse customer base, products are available on both a license and true SaaS model basis. For additional information, please visit www.afsi.com or call (602) 522-8282.

About MEI Computer Technology Group, Inc.

MEI Computer Technology Group, Inc. is a global provider and thought leader in trade promotion management (TPM) solutions, providing consumer packaged goods (CPG) manufacturers with automated solutions to integrate TPM into existing sales and marketing accounting systems to better track trade spend performance across the entire supply chain. Founded in 1983, the company offers TPM software applications and services to enable CPG companies to make more informed business decisions regarding critical trade spend activities.

AFS Technologies
Kevin Collier, 602-443-4221

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