Great Hill Partners

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8.28.2000
GSS And FDI Merge

"GSS AND FDI MERGE"

General Systems Solutions, Inc. of Groton, CT, and FDI Consulting, Inc. of Sacramento, CA, today formally announced the merger of their two companies. The combined entity will assume the name TriVIN, Inc. and will be positioned as one of the leading players in the e-Government space. GSS, which is venture capital backed by M/C Partners and its affiliate, Great Hill Partners, provides online motor vehicle registration, registration and title inquiry, and insurance tracking products in 11 states. FDI provides electronic lien and title, collateral management products and motor vehicle inquiry for lienholders nationwide. Both companies are market share leaders in their respective markets and come to the merger from positions of technological leadership in their fields of expertise. FDI first offered its ELT products to the market in 1991, while GSS has been providing on-line registration services since early 1993.

TriVIN, Inc. will employ more than 150 professionals and maintain its primary offices in Groton, CT, and Sacramento, CA.

"GSS and FDI have long known of, and respected, the capabilities of the other organization. While GSS was developing the market for electronic vehicle registration, FDI was pioneering electronic lien and title processing," said Bill Rountree, President and CEO of GSS. "It is natural that at some point the product requirements and customer sets of the two markets would converge in the manner that they have. We are extremely excited by the opportunity to combine the talents of the two organizations to better serve the rapidly growing electronic vehicle information marketplace."

"Our lienholder customer base will benefit greatly from immediate access to on-line registration at the time the lease or retail contract matures," added Troy R. Underwood, President and CEO of FDI. "Over time we will also develop new products and services that capitalize on the DMV-centric, electronic link that will now exist between the automobile dealership and the financial institution. Both dealer and lender will benefit from products resulting from the convergence of GSS' on-line registration and FDI's electronic titling technologies. In fact, any commercial entity that has a need to interact with a motor vehicle administration will reap the many rewards of this business combination."

TriVIN's current products are offered in partnership with motor vehicle administrations in the states served by GSS and FDI. The new company will offer its government partners in motor vehicle administration the ability to more quickly introduce the benefits of electronic registration and titling by working with a single company that has a proven track record of candor, collaboration, and execution.

TriVIN blends unmatched technical expertise with a unique understanding of regulatory policy and commercial business practices. Coupled with solid financing and a persistent, entrepreneurial spirit, TriVIN is in a position to continuously improve the products and services offered to its many customer sets and partners in the motor vehicle administration community.

GSS and FDI wish to thank their employees, their customers, and their partners in state and local government for their support in the past and their continuing support in the future. Stay tuned ... TriVIN says the best is yet to come!