Charlotte, NC; April 26, 2007 - DecisionPoint International, a boutique investment bank providing merger and acquisition services to middle-market services and technology clients, announced today that its client, Saratoga Systems Inc. ("Saratoga") a leading provider of CRM solutions for large global enterprises, has reached an agreement to be acquired by CDC Software, a wholly owned subsidiary of CDC Corporation and a provider of industry-specific enterprise software applications and business services.
The Saratoga CRM solutions are designed for specific vertical industries that are additive and complementary to the vertical industries already addressed by current CDC Software solutions. With approximate annual revenues of US $25 million, the acquisition of Saratoga is expected to be immediately accretive to CDC Software.
The Saratoga CRM solutions are designed for, and widely used by large companies in the chemicals, consumer products, energy, insurance and selected manufacturing industries. Saratoga has more than 350 customers globally, including Allstate, BASF, Blue Cross Blue Shield of GA, Johnson Controls, Konica Minolta, Tyco Healthcare and Wellpoint Health Networks. The addition of Saratoga CRM to CDC Software forms a strong addition along side the company's current Pivotal CRM applications that are designed primarily for financial services, home building and additional manufacturing industries. The Saratoga CRM applications are also highly complementary to the Ross Enterprise solutions for chemicals manufacturers, and the recently acquired Respond applications for complaint and feedback management.
"We are very pleased to have Saratoga join the CDC Software family," said Mark Elconin, chairman and CEO of Saratoga. "CDC Software has earned a reputation for success in growing acquired businesses and maintaining customer satisfaction. We are confident that this logical merger will create many positive benefits for Saratoga customers and employees, as well as for CDC Software, its customers and investors."
"Our acquisition of Saratoga will represent another logical step in our strategy as vertical industry specialists," said Eric Musser, president of CDC Software. "Unlike the slash-and-burn approach of typical consolidators, we believe we are creating real value by expanding the breadth of our industry applications through investments in organic innovation, as well as targeted acquisitions such as this one. The expanded industry coverage we will have with Saratoga CRM, and its additional proven success with large enterprises, further strengthens our unique position as vertical industry specialists in the enterprise software markets."
About Saratoga Systems Inc.
Saratoga helped pioneer the CRM movement. Today, the company is a world leader in CRM solutions that enable large, global enterprises to effectively manage interactions with their customers at every stage, from marketing and initial contact through the complex sales, service and support relationships that develop between successful companies and their happy customers. Saratoga provides advanced solutions that enable customers to maximize employee productivity, increase operational efficiency, create new revenue opportunities, build and maintain satisfied customers, and build a strong, sustainable competitive advantage. Saratoga currently has 120,000 users worldwide and more than 350 corporate customers including BASF, Hanson PLC , ING Investment Management, Kodak, MetLife, T. Rowe Price, Tyco Healthcare, UBS , Virgin Atlantic Airways, and WellPoint.
Saratoga has its headquarters in Campbell, California, the heart of Silicon Valley, and regional offices in the United Kingdom, Sweden, Germany, and France, as well as distributors throughout the world. For more information, please visit www.saratogasystems.com.
About CDC Software
CDC Software, The Customer-Driven Company(tm), is a provider of enterprise software applications designed to help organizations deliver a superior customer experience while increasing efficiencies and profitability. CDC Software's product suite includes the Pivotal CRM (customer relationship management), Respond (customer complaint and feedback management), c360 CRM add-on products, industry solutions and development tools for the Microsoft Dynamics CRM platform, Ross ERP (enterprise resource planning) and SCM (supply chain management), MVI real-time performance management, IMI warehouse management and order management, Platinum China HR (human resource) and business analytics solutions.
These industry-specific solutions are used by more than 6,000 customers worldwide within the manufacturing, financial services, health care, home building, real estate, and wholesale and retail distribution industries. The company completes its offerings with a full continuum of services that span the life cycle of technology and software applications, including implementation, project consulting, outsourced business services, application management and offshore development. CDC Software is the enterprise software unit of CDC Corporation and is ranked number 18 on the Manufacturing Business Technology 2006 Global 100 List of Enterprise and Supply Chain Management Application vendors. For more information, please visit www.cdcsoftware.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.