Every couple of weeks I browse the news of front office stocks just in case my e-mail service doesn't delver important stuff to me. I found the following.
--Mike
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INDIANAPOLIS--(BUSINESS WIRE)--Aug. 12, 1997--
Adds Sales Force Automation to Customer Relationship Management Offering
Software Artistry, Inc. (NASDAQ:SWRT) today announced that it has acquired substantially all the assets of Sirius Systems, Inc., an Atlanta-based sales management software developer. The acquisition gives Software Artistry customers a unified source for acquiring, developing, and maintaining customer relationships.
Sirius Systems, Inc., has been providing sales and marketing solutions on a global basis since 1991. The Sirius G2 product is fully operational in nearly 60 national and international organizations, including notables such as AON Risk Services and Manugistics, Inc.
The transaction is structured as an asset purchase and consists of an initial cash payment of $5,125,000 and a $2,000,000 earnout. Software Artistry expects to recognize a one-time charge in the third quarter of a substantial portion of the initial cash payment related to in-process research and development and other integration expenses. Additionally, the company expects a mildly dilutive impact on operating results in the third and fourth quarters of 1997.
"This acquisition fulfills a pivotal component of Software Artistry's strategy for the customer relationship management market," said W. Scott Webber, president and CEO. "Sirius' best-of-breed sales management software adds tremendous value to our existing Customer Relationship Management (CRM) suite, which now includes the components of customer support, customer self-service, product change management, and sales management."
"We are energized by this relationship with Software Artistry," said Dave Ryan, CEO of Sirius Systems. "The cultural fit and shared vision that exists in the joining of our organizations gives us a foundation for future product development to meet the needs of our expanding customer base."
Software Artistry's CRM vision - which was unveiled earlier this year - included the incorporation of a sales management offering by the second half of 1997. With the extended capabilities of a sales management application, the acquisition strengthens Software Artistry's position in the customer relationship management market.
"We are especially excited about having achieved this goal with Sirius Systems," said Scott McCorkle, vice president and general manager of Software Artistry's CRM business unit. "G2 is a high-quality and robust product, created by a group of talented, energetic people." The integration of the companies' products has already begun, and it is expected that the first integrated release will be available in 1997.
EDITOR'S NOTE: A conference call with both Software Artistry and Sirius executives will be held on Thursday, August 14, at 11:00 a.m. EST. You are invited to participate by calling 1-800-377-4841.
About Software Artistry
Software Artistry is recognized as the leading provider of Enterprise Support Management solutions. The company's suite of applications, SA-EXPERTISE(TM), uniquely enables organizations to proactively manage and improve their processes for help desk, network management, asset and change management, and end-user empowerment. Software Artistry is also a leading provider of Customer Relationship Management solutions with a leading-edge suite of products to address customer support and satisfaction.
About Sirius
Sirius Systems, Inc., of Norcross, Georgia, was founded in late 1991 and markets G2 client/server software. G2 helps sales managers and salespeople gain control of sales processes, communicate effectively, forecast accurately, and win more sales. With one of the most advanced, feature-rich products available in the fast-growing sales management marketplace, Sirius has shipped more than 10,000 copies of its software to more than 100 client organizations.
This press release contains forward-looking information that is subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated. Among those risks and uncertainties are various important factors, including without limitation competitive actions in the marketplace, technological innovations, and the size and timing of individual license transactions. Furthermore, the timing of new product releases is inherently uncertain and there can be no assurance that the Company will not experience delays with respect to the release of new products or that such releases will gain market acceptance. Further information on potential factors which could affect financial results are included in the Company's Form 10-K, filed with the SEC, for the fiscal year ended December 31, 1996. INDIANAPOLIS--(BUSINESS WIRE)--Aug. 12, 1997-- |
