May 30, 2001
Application Technologies Inc. (AppsTech), a leader in information technology (IT) consulting for multinational corporations and governments, today announced an agreement to acquire Apprio Inc., a full service, Oracle-based ASP and systems integrator based in Vienna, VA. The transaction will help drive AppsTech’s global expansion by enabling the company to benefit from Apprio’s strong customer relationships and experience in Asia and Latin America, and will help AppsTech expand its presence in world government markets. In addition, the acquisition will enhance AppsTech’s applications hosting capabilities.
“This transaction brings together exceptionally talented professionals and impressive client lis ts from both companies to create an even stronger, more capable AppsTech,” said AppsTech CEO Rebecca Enonchong. “The synergies between Apprio and AppsTech are remarkable. Apprio’s deep commitment to client service and its global perspective, both of which we share, made the company particularly attractive to us,” said Enonchong.
Under the terms of the agreement, AppsTech will acquire all of Apprio’s assets and assume all of its obligations to current employees and existing clients. The financial terms of the acquisition agreement between the two privately held companies were not disclosed.
Apprio specializes in the deployment of e-business solutions powered by Oracle’s E-Business Suite 11i and focuses on the telecommunications, financial services and education markets. Its clients include Global One, Global Telesystems, Net2000, XML Solutions, the Centers for Disease Control and Prevention, and the U.S. Census Department.
“We are very pleased to be joining forces with AppsTech and are confident this move will enhance the delivery of services to customers of both companies,” said Apprio CEO Darryl Britt. “We’ve admired AppsTech’s vision and corporate strategy and we now look forward to playing an important role in the worldwide expansion of the company,” said Britt.
Apprio Inc. is a full service, Oracle-based ASP and systems integrator headquartered in Vienna, VA. The company provides implementation, consulting, development, hosting and support services to customers in numerous industries, including, telecom, retail, financial services, manufacturing, real estate, government and education. More information about Apprio can be found at www.apprioinc.com
DecisionPoint is a global leader in M&A advisory services for middle-market technology companies in the services, software, and communication sectors. For additional information on DecisionPoint, visit www.DecisionPointINT.com.
For further information, contact: Doug Ellis, Managing Partner; (704) 916-9070; DEllis@DecisionPointINT.com.