Mergers & Acquisitions on Ulitzer

Mergers & Acquisitions on Ulitzer

Progress Software announced today the acquisition of Savvion, a privately held business enterprise software company based in Santa Clara, California, for approximately $49 million, net of cash acquired.

Savvion is a provider of Business Process Management (BPM) technology with 15 years of market experience. The company offers a comprehensive, standards-based BPM suite that helps more than 300 of the world’s top-performing companies – including 24 of the ‘Fortune 100’ – automate and continuously improve critical business processes.

Richard D. Reidy, president and chief executive officer, Progress Software said: “We believe that achieving operational responsiveness has become a business imperative, enabling businesses to achieve the highest level of operational performance. Our acquisition of Savvion enhances our goal to provide unprecedented business visibility, responsiveness and business process improvement, coupled with the highest degree of data integrity and integration.”

Dr. John Bates, Progress Software’s chief technology officer and head of corporate development added: “The Savvion BPM suite is a perfect fit for Progress because it offers leading capabilities for business process modeling and execution. The suite also uniquely includes other integrated key capabilities, including business rules management, document management, an event engine and an analytics engine.”

Dr. Bates continued: “In addition, Savvion has developed powerful industry-specific BPM solutions for financial services, communications, healthcare, life sciences, energy and manufacturing industries in which, Progress already has a broad customer base that will benefit from these capabilities. Each Savvion solution features pre-built business processes and dashboards based on industry best practices. These solutions are proven to accelerate customer deployments with a high return on investment (ROI) and a low total cost of ownership (TCO).”

Sandep Phanasgaonkar, president and CTO, Reliance Capital noted: “The Savvion BPM suite has quick deployment time. Reliance reduced turnaround time and increased adherence to SLAs after implementing the Savvion BPM solution. Savvion helped create an 86% reduction in policy generation time. Our ROI was realized in less than six months.”

According to Maureen Fleming, program director of IDC's business process management and middleware research service: “As enterprises increase their focus on operational responsiveness – and most of them are -- there is a need to build event-driven systems that adapt continuously to current and trending business conditions. We call these 'business navigation systems,' which converge visibility, event processing and BPM software. Vendors offering all three capabilities as a system are in a much stronger position to partner with their customers to build these new types of high value applications."

The combination of Progress Software’s Business Event Processing (BEP), Business Transaction Assurance (BTA) and Integration portfolio, coupled with the Savvion BPM suite better enables enterprises to achieve the highest levels of operational responsiveness. With this set of solutions, enterprises can:

1. Ensure efficient execution of business processes by detecting system bottle-necks through visibility into process transactions and resolving;
2. Capture, analyze and respond to opportunities and threats to the business through business event processing in real-time;
3. Easily integrate existing disparate systems and processes; and,
4. Achieve end-to-end business process visibility to detect and resolve any system bottlenecks and exceptions ensuring every business process is completed successfully.