Metastorm and CommerceQuest Combine to Emerge as Clear Leader in Business Process Management Market
Wednesday October 5, 10:00 am ET
Companies Initiate First Consolidation to Become the Largest Pure-Play BPM Provider
COLUMBIA, Md., Oct. 5 /PRNewswire/ -- Metastorm, a leading provider of Business Process Management (BPM) software for modeling, automating and controlling processes, and CommerceQuest Inc., a provider of scalable integration and business process management solutions, today announced a merger under the Metastorm brand, clearly differentiating Metastorm as the breakaway vendor in the BPM marketplace. The combined company will provide customers with the innovation of a pure-play BPM provider, the scale and stability of a larger company, and the most complete BPM software suite on the market today. The expanded Metastorm BPM® software suite will address all human- and system-based process challenges -- regardless of platform, scale, complexity, or existing infrastructure -- and delivers proven industry solutions for roundtrip process improvement. This powerful combination of two market leaders is expected to create the largest pure-play BPM software provider worldwide with more than 1200 customers in 41 countries.
"Our strategies are 100% aligned and we are well positioned to be the breakaway vendor in the BPM market," stated Bob Farrell, president and CEO of Metastorm. "Proven process and integration technology, J2EE innovation, high profile distribution channels, complementary industry coverage, and highly skilled resources make CommerceQuest the perfect match for Metastorm and will expand the breadth and depth of our company to meet the complete spectrum of enterprise business process management needs facing organizations today."
Strategic Value Proposition
This combination:
* Creates the largest independent software vendor focused exclusively on
enterprise business process management with more than 1200 customers in
41 countries
* Creates the market's most comprehensive BPM software suite to support
all ranges of business process management initiatives across mid-to-
large size enterprises on both Unix and Microsoft platforms
* Increases resources for technology innovation, market coverage, partner
collaboration, and customer support
* Broadens and strengthens key vertical market offerings including retail
and financial services
* Enhances Metastorm's business by accelerating growth, market share, and
product innovation and increasing overall shareholder value
* Gives Metastorm a dominant leadership position in the worldwide BPM
market.
"CommerceQuest has built a strong market presence based on its ability to deliver highly-scalable BPM solutions that excel at integrating complex systems and streamlining core business processes," stated Mike Forster, chairman and CEO of CommerceQuest. "The combination of Metastorm's leading BPM market position and human-based BPM offerings and CommerceQuest's process- driven, service-oriented integration capabilities will provide customers with a complete solution for all process management challenges. The new, expanded Metastorm becomes the first company to offer organizations a single solution to meet all of their enterprise-wide BPM needs and remains the clear market leader."
Bob Farrell will continue to serve as president and CEO of Metastorm and Mike Forster, current CEO of CommerceQuest, and Michael Zisman, Managing Director of Internet Capital Group (Nasdaq: ICGE - News) and CommerceQuest board member, will be elected to the Metastorm Board of Directors. As part of the transaction, Metastorm has secured additional funding from its newly combined investor base, demonstrating continued confidence in the company and its position in a hot market segment.
About Metastorm, Inc.
As a leading provider of business process management software for modeling, automating, and controlling processes, Metastorm delivers a complete solution for roundtrip process improvement and is the only company helping organizations achieve Enterprise Process Advantage® -- a heightened level of business performance resulting from increased process efficiency, control, and agility. With a focus on complex, human-centric processes that are unique to their organizations, Metastorm's 750+ global client base in manufacturing, financial services, business services, healthcare and government are achieving rapid ROI and unique process advantage in customer service, supply chain operations, risk management, and internal operations. For more information visit metastorm.com.
About CommerceQuest
Founded in 1991, CommerceQuest is an enterprise solutions provider that enables its customers to rapidly turn business strategy into business processes by fully integrating the work that people do with software systems that optimize business performance. CommerceQuest delivers a complete set of scalable business process management (BPM) solutions that leverage existing IT investments to unite people, processes and technology in a service-based architecture that spans the extended enterprise, from the mainframe to the Internet and everything in between. More than 500 industry-leading companies rely on CommerceQuest to help them integrate heterogeneous workflow and IT systems, including many of the Fortune 500 companies such as The Home Depot, Coca-Cola Bottling, Ahold, and American Express. CommerceQuest is a privately- held company and a member of Internet Capital Group's (Nasdaq: ICGE - News) collaborative network of Partner Companies. |
