Nation’s Largest Drugstore Chain CVS Closes Major Deal with MicroStrategy
Reaffirms MicroStrategy as Enterprise-Wide Business Intelligence Standard
McLean, Va., (May 15, 2002) –
MicroStrategy® Incorporated (NASDAQ: MSTR), a leading worldwide provider of business intelligence software, today announced that its long-time customer CVS Corporation (NYSE: CVS) signed a multi-million dollar deal for MicroStrategy software and services during the first quarter of 2002. The agreement positions CVS to roll out additional business intelligence applications beyond its headquarters, to field management as well as vendors, stores and customers.
“As part of a strategic Enterprise Information Access initiative, CVS chose the MicroStrategy Business Intelligence Platform(TM) for its ease-of-use, rich features and functionality, superior scalability, robust security, maintainability and solid architectural foundation,” said Mike Dion, director of information services at CVS Corporation. “In the past, pharmacy and retail businesses were focused on having the right product in the right place at the right time. In order to be on top today, it’s equally important to make information accessible to the right people — how, when and where they want it. We view MicroStrategy and its integrated business intelligence platform as a strategic enabler to make appropriate information accessible to employees, vendors and customers in a secure manner.”
A customer since 1996, CVS has the MicroStrategy platform in production today supporting approximately 2,000 end users that run analyses against more than two terabytes of data. A wide range of users are able to analyze areas of the business such as store sales, inventory, profitability, category reviews, vendor scorecards, financials, click-stream activity and real-estate operations.
“We’re very proud to have expanded our relationship with such a national leader as CVS,” said Sanju K. Bansal, chief operating officer of MicroStrategy Incorporated. “This new deal is testament to the fast-growing importance of business intelligence software as a strategic technology and to MicroStrategy’s leadership in producing it.”
About CVS Corporation
CVS is America’s #1 pharmacy, dispensing prescriptions in more stores than any other retailer. With annual revenues that exceed $22 billion, CVS has created innovative approaches to serve the healthcare needs of all of its customers through more than 4,000 CVS/pharmacy stores; CVS ProCare, its specialty pharmacy business; CVS.com, its online pharmacy; and PharmaCare, its pharmacy benefit management company. General information about CVS is available through the Investor Relations portion of the Company’s website, at http://www.CVS.com.
About MicroStrategy
Leadership in a Critical Market: Founded in 1989, MicroStrategy is a worldwide leader in the increasingly critical business intelligence software market. Large and small companies alike are harnessing MicroStrategy’s business intelligence software to gain vital insights from their data to help them proactively enhance cost-efficiency, productivity and customer relations and optimize revenue-generating strategies. MicroStrategy’s business intelligence platform offers exceptional capabilities that provide organizations — in virtually all facets of their operations — with user- friendly solutions to their data query, reporting, and advanced analytical needs, and distributes valuable insight on this data to users via Web, wireless, and voice. PC Magazine selected MicroStrategy 7(TM) as the 2001 “Editors’ Choice” for business intelligence software.
Enterprise-Class Business Intelligence: MicroStrategy 7i(TM) is a truly integrated, enterprise-class, Web-based business intelligence platform. With MicroStrategy 7i, enterprises can now standardize on one business intelligence platform and deploy high-value business intelligence enterprise-wide. MicroStrategy 7i’s configurable query, reporting, and OLAP Web interface is designed to support all users, from casual report viewers to power analysts.
Diverse Customer Base: MicroStrategy’s customer base cuts across industry and sector lines, with over 1,500 enterprise-class customers, including Lowe’s Home Improvement Warehouse, AT&T Wireless Group, Wachovia and GlaxoSmithKline. MicroStrategy also has relationships with over 400 systems integrators and application development and platform partners, including IBM, PeopleSoft, Compaq, and JD Edwards.
MicroStrategy is listed on Nasdaq under the symbol MSTR. For more information on the company, or to purchase or demo MicroStrategy’s software, please visit MicroStrategy’s Web site at http://www.microstrategy.com.
This press release may include statements that may constitute “forward-looking statements,” including its estimates of future business prospects or financial results and statements containing the words “believe,” “estimate,” “project,” “expect” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results of MicroStrategy Incorporated and its subsidiaries (collectively, the “Company”) to differ materially from the forward-looking statements. Factors that could contribute to such differences include: the Company’s ability to secure financing for its current operations and long-term plans on acceptable terms; the ability of the Company to implement and achieve widespread customer acceptance of its MicroStrategy 7i software on a timely basis; the Company’s ability to recognize deferred revenue through delivery of products or satisfactory performance of services; the possibility that the conditions to the securities class action and shareholder derivative settlement agreements will not be satisfied; continued acceptance of the Company’s products in the marketplace; the timing of significant orders; delays in the Company’s ability to develop or ship new products; market acceptance of new products; competitive factors; general economic conditions; currency fluctuations and other risks detailed in the Company’s registration statements and periodic reports filed with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
MicroStrategy, MicroStrategy Business Intelligence Platform, MicroStrategy 7, MicroStrategy 7i, Scalable Business Intelligence Platform Built for the Internet, MicroStrategy Web are either trademarks or registered trademarks of MicroStrategy Incorporated in the United States and certain other countries. Other product and company names mentioned herein may be the trademarks of their respective owners.
Marc Brailov
MicroStrategy Incorporated
(703) 770-1670
mbrailov@microstrategy.com
Source: MicroStrategy