Second Annual MITX Technology Awards Recognize Outstanding Technology Advancements in New England Region
Concord, MA, May 24, 2005 – aPriori, a technology leader providing cost management software solutions for the discrete manufacturing industry, today announced that it has been named as a finalist in the 2nd Annual MITX Technology Awards in the category of "Business Applications Operation". The Massachusetts Innovation & Technology Exchange (MITX) Technology Awards recognize innovative technologies developed in the New England area, as well as the individuals and organizations responsible for driving these advancements.
The aPriori v3.7 cost management platform is the first solution to bring much needed innovation to the discrete manufacturing industry by providing real-time, predictive cost assessments throughout the entire product development process. aPriori v3.7 enables designers and engineers, manufacturing engineers and planners, purchasing and sourcing professionals, cost managers, and program/project management to make better decisions to reduce, avoid, and recover product costs. aPriori's solution, currently in production with a Fortune 100 manufacturer, allows companies to reduce Costs of Goods Sold (COGS) by whole percentages through identifying quantifiable savings in material, tooling, labor and overhead while evaluating alternative designs, processes and sources.
"Receiving industry recognition by being named an MITX award finalist is tremendous validation for the value our product brings to the discrete manufacturing industry," said Frank V. Azzolino, president and CEO of aPriori. "aPriori's compelling business proposition has garnered the interest of many of the Fortune 100 discrete manufacturing companies and we believe this is one of the driving factors in being recognized for this important industry award. It is a true honor to be selected from an impressive list of Massachusetts-based companies."
"In just its second year, the 2005 MITX Technology Awards have attracted some of the most distinguished technological innovations that the region has to offer," said Kiki Mills, Executive Director of MITX. "It is this tremendous interest that enables our organization to accomplish its mission of uniting the brightest minds in the technology community and honoring outstanding achievement."
aPriori will be recognized with the other finalists in the category of "Business Applications Operation" at an awards ceremony attended by the region's top technology and business professionals. Winners will be announced at the ceremony at the Four Seasons Hotel in Boston on Wednesday, June 8, 2005.
MITX will also present several awards of distinction, including the "What's Next" Awards presented to up to three companies that have created emerging technologies that are expected to have profound impacts on the technology environment within the next few years. The "Innovation Influencer of the Year" Award will be given to an individual or organization that has done the most to promote New England-based innovation and the Lifetime Achievement Award presented to a pioneer of innovation in New England.
The 2005 MITX Technology Awards are sponsored by Backbone Media, Bank of America, Deloitte, and Nixon Peabody LLP. Media sponsors include Technology Review, ITWorld.com and Robotics Trends.
About MITX
The Massachusetts Innovation & Technology Exchange (MITX - pronounced my-techs) accelerates business opportunities and professional development for those who seek to create business advantage through the innovative application of technology and services. Serving more than 2,500 members from multiple industries including information technology, interactive, financial services, healthcare and nanotechnology, MITX is the region's premier association for thought leadership, technology trends, building business relationships and professional training and development. MITX also offers its members the chance to promote their companies to targeted audiences through sponsorships, speaking opportunities and networking. MITX is headquartered in Boston. For more information please call 617-227-2822 or visit www.mitx.org.
About aPriori
aPriori (http://www.apriori.com) is a venture-backed company developing an innovative platform of cost management software solutions for the discrete manufacturing industry. aPriori's patent-protected cost management platform, originally developed in tight collaboration between the University of Illinois, Urbana-Champaign and a Fortune 100 manufacturing company, allows companies to assess, control, and reduce cost of goods sold (COGS) by whole percentages. aPriori, headquartered in Concord, MA, was founded in 2003, and is funded by Bain Capital Ventures and Sigma Partners.
aPriori and aPriori Technologies are registered trademarks of aPriori Technologies Inc. All other trademarks, service marks, registered trademarks, or registered service marks are the property of their respective owners.
Media Contacts:
Investor Relations
aPriori
978-371-2006
pr@apriori.com
Sara Fraim, MITX
(617) 227-2722 x203
sara@mitx.orgsara@mitx.org