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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): January 7, 2000
GREAT PLAINS SOFTWARE, INC.
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(Exact name of registrant as specified in its charter)
MINNESOTA 000-22703 45-0374871
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(State or other jurisdiction (Commission file number) (IRS employer
of incorporation) identification No.)
1701 S.W. 38th Street, Fargo, North Dakota 58103
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(Address of principal executive offices)
Registrant's telephone number, including area code: (701) 281-0550
Not Applicable
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
On January 7, 2000, RealWorld Corporation was merged with and into
Great Plains Software, Inc. Additional information concerning the merger is
contained in the press release being filed as Exhibit 99.1 to this report.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial statements of businesses acquired.
None required.
(b) Pro forma financial information.
None required.
(c) Exhibits.
Number Description
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99.1 Press release dated January 6, 2000
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.
GREAT PLAINS SOFTWARE, INC.
Date: January 24, 2000 By: /s/ Douglas J. Burgum
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Douglas J. Burgum
CHAIRMAN OF THE BOARD, PRESIDENT
AND CHIEF EXECUTIVE OFFICER
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INDEX TO EXHIBITS
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Number Description
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99.1 Press release dated January 6, 2000
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Exhibit 99.1
Great Plains to Acquire RealWorld
Acquisition to Expand Customer Base and Partner Channel
FARGO, ND, January 6, 2000 -- Great Plains (NASDAQ: GPSI) today announced it
intends to grow its customer base and expand its reseller partner channel
through the acquisition of RealWorld Corporation, a developer of accounting
and business solutions. As a result of the acquisition, Great Plains expects
to add more than 20,000 midmarket customers and to expand its channel
capacity through RealWorld's partner network.
Great Plains intends to acquire RealWorld Corporation by merger and to issue
approximately 184,000 shares of Great Plains common stock and $5.5 million in
cash. The parties have entered into a definitive merger agreement subject to
certain closing conditions. The transaction is expected to be closed in Great
Plains' third fiscal quarter and would be accounted for as a purchase accounting
transaction.
Great Plains plans to market its front office/back office e-business products,
Dynamics and eEnterprise, to RealWorld customers, giving them a clear migration
path to market-leading e-business solutions. Great Plains intends to continue
supporting the RealWorld products, enabling RealWorld customers to migrate to
Great Plains' solutions over time. Great Plains offers e-business applications
for financials, distribution, enterprise reporting, project accounting,
electronic commerce, human resource management, manufacturing, sales and
marketing management, and customer service and support. Great Plains has more
than 22,000 customers using Dynamics or eEnterprise today.
In addition, Great Plains expects to gain more than 65 team members located
in Manchester, New Hampshire, with extensive experience in developing,
marketing and selling business management solutions to the midmarket. Great
Plains also expects to use the Northeast office to provide consulting,
training, migration and support services to customers and partners.
"We are excited to add RealWorld's customers and partners to the Great Plains
community. Great Plains and our partners deliver compelling e-business solutions
that will increase the competitive advantage of RealWorld customers," said Gary
Schafer, director and general manager of Customer Management at Great Plains.
Founded in 1980, RealWorld Corporation develops and markets accounting and
financial software solutions including RealWorld Classic Accounting, the
heritage accounting suite and RealWorld Expertise, a Windows-based, next
generation financial management suite. RealWorld's applications have been
distributed worldwide by a network of dedicated channel partners.
Great Plains (NASDAQ: GPSI) delivers integrated front office/back office
e-business solutions for the midmarket. Great Plains offers e-business
applications for financials, distribution, enterprise reporting, project
accounting, electronic commerce, human resource management, manufacturing,
sales and marketing management, and customer service and support. Great
Plains' solutions are sold and implemented by a unique worldwide network of
independent partner organizations that share the company's commitment to
lasting customer relationships. Named four times to the "Top 100 Companies to
Work for in America" list, Great Plains has more than 1,200 team members
worldwide. More information about Great Plains can be found at
www.greatplains.com.
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This press release contains forward-looking statements that involve a number of
risks and uncertainties, including statements about the expected consummation of
the acquisition of RealWorld Corporation and the future benefits Great Plains
expects to derive as a result of such acquisition. There exist a number of
factors that could cause actual results to differ materially from those
indicated. Such factors include: completion of the acquisition as anticipated;
Great Plains' success in integrating RealWorld Corporation into its own
operations; dependence upon distribution channels; competition; customer demand,
pricing, and other factors set forth in the Company's Annual Report.
All product and company names may be trademarks or registered trademarks of
their respective companies.
