eturn On Investment Corp. (ROI) announced on Sept. 27, 2004 plans to move ahead with the sale of its GO Software Inc. subsidiary. The proposed sale is part of ROI's business strategy to focus on its Tectonic Network subsidiary.

Potential buyers for GO Software were not named, but Mandy Ownley, Marketing Manager for the company said in a statement that people there were "genuinely excited about our future and believe the divestiture of GO from ROI Corp. is a positive move."

She also said that an acquisition by a company within the payments industry will be positive all the way around. "Being acquired by a larger, financially sound company with ties to the electronic payments industry should actually create more opportunities for GO Software's expansion into new product areas," she said.

ROI currently manages two distinct businesses with separate financial records: GO Software, which provides solutions for the electronic payment industry, and Tectonic Network, which serves the construction industry.

Ownley said that ROI lacks the expertise to operate at a certain level in the payments industry; cash flow to support the diverse businesses under one umbrella is also a consideration. ROI feels its interests and expertise are better suited to the growing construction segment.

Alex Chalmers, a spokesperson for SVB Alliant, the advisor representing ROI in the divestiture, reiterated that point. "GO is a non-strategic direction for ROI, and there is no other reason beyond that for the divestiture," he said. "It will be better for GO and its customers." GO Software does not plan to alter its existing business model after the acquisition is completed, and the company's solid history of revenue growth will continue to serve as a strong foundation for its new direction, Ownley said.

Chalmers said the transaction is expected to be complete by the end of Q4 2004 or Q1 2005.

ROI also announced its fourth-quarter earnings were up 50.9% over the same period from the previous year; year-end earnings were up 34.7% over 2003.