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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 l934
Date of report (Date of earliest event reported) January 6, 1998
SYSTEM SOFTWARE ASSOCIATES, INC.
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
0-15322 36-3144515
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(Commission File Number) (I.R.S. Employer
Identification No.)
500 West Madison
Chicago, Illinois 60661
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(Address of principal executive offices) (Zip Code)
(312) 258-6000
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(Registrant's Telephone Number, Including Area Code)
N/A
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(Former name or former address, if changed since last report.)
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Item 5. Other Events
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On January 6, 1998, the Registrant issued a press release announcing, among
other items, the settlement of the suit brought against it by Bain Capital. A
copy of the press release is attached as an exhibit.
Item 7. Financial Statements and Exhibits
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(c) Exhibits
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99 Press Release dated January 6, 1998.
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.
SYSTEM SOFTWARE ASSOCIATES, INC.
Date January 12, 1998 BY: /s/ Joseph J. Skadra
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Joseph J. Skadra, Chief Financial Officer
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[LOGO] System Software Associates, Inc. NEW RELEASE
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Corporate Headquarters
500 West Madison . Chicago, Illinois, U.S.A. 60661 . Telephone: (312) 258-6000
. Facsimile: (312) 474-7500
(BW)(SYSTEM-SOFTWARE-ASSOC)(SSAX) SSA Announces Settlement of Bain
Capital Lawsuit; Retention of Hambrecht & Quist as Long Term Investment Bankers
CHICAGO--(BUSINESS WIRE)--Jan. 6, 1998--System Software Associates, Inc.
(NASDAQ:SSAX) announced today that it had settled the suit brought by Bain
Capital which was related to the company's recent financing, and that this
settlement would have no significant financial impact on the firm.
The Company in its previous fiscal year had reserved $3.25 million for a
possible settlement, which represented a break up fee of $3 million and
expenses. The settlement is for approximately $3.65 million with an additional
300,000 warrants to purchase SSA stock priced at $9.6875 per share.
Separately, the Company announced that it had reached a long term agreement
with Hambrecht & Quist to be the firm's financial advisor. Under the agreement,
Hambrecht & Quist will receive 1,300,000 warrants to purchase SSA stock at
$9.6875 per share, in return for long term investment banking services. Terms
and conditions of particular transactions will be negotiated at the time of the
transaction, and may involve additional compensation.
About SSA
SSA has been chosen by the world's leading industrial sector firms as the
best way forward. The Company's product line, BPCS Client/Server V6, is
currently being implemented in more than 1,000 industrial sector firms in over
4,000 sites worldwide. The BPCS Client/Server product line delivers unparalleled
agility and re-configurability to meet changing market demands through a quantum
leap forward in ERP technology that delivers significant business benefits,
including century dating. The BPCS Client/Server product suite delivers
competitive advantage by integrating all mission-critical operations from
global financials to multi-mode manufacturing to management of the total supply
chain, including Electronic Commerce and EDI. SSA's Distributed Object Computing
Architecture (DOCA) provides the computing platform choice, whether IBM AS/400
or RS/6000, Digital, Hewlett-Packard, a combination of these or server access
via the Internet. Database options include Oracle, Informix and DB2/400. Over
8,500 clients in over 25,000 sites in various vertical markets -- automotive,
chemical, consumer goods, electronics, fabrication and assembly, food/beverage,
forest products, pharmaceuticals -- have implemented an SSA BPCS ERP system. SSA
and its strategic partners provide full implementation support for BPCS
Client/Server in over 90 countries worldwide. Visit SSA's homepage at
http://www.ssax.com.
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Editor's note: BPCS is a registered trademark of SSA. BPCS Client/Server
and DOCA are trademarks of SSA.
CONTACT: System Software Associates, Inc.
Investor Relations:
Joseph J. Skadra, 312/258-6000, fax: 312/474-7500
[email protected]
or
System Software Associates, Inc.
Corporate Contact:
Roger E. Covey, 312/258-6000, fax: 312/474-7500
[email protected]
