PARK CITY, Utah — Park City Group here and Prescient Applied Intelligence, West Chester, Pa. — two software providers to food retailers — yesterday announced an agreement to merge the two companies. Under the terms of the agreement, Prescient will merge with a newly formed subsidiary of Park City Group, becoming a wholly owned operating subsidiary. At the same time, Park City Group acquired, from two Prescient stockholders in a private transaction, over 43% of Prescient’s Series E Preferred Stock, and Randall K. Fields, chairman and chief executive officer of Park City Group, was appointed CEO of Prescient. Together, Park City Group and Prescient will provide a range of offerings for inventory management, labor utilization, vendor-managed inventory and scan-based trading solutions to grocery, convenience store and specialty retailers, and to CPG companies.
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