Versata Enterprises Acquires TriActive
Austin, Texas – July 23, 2010 – Versata Enterprises, Inc. (Versata), a leading provider of enterprise software solutions, announced today the acquisition of TriActive, Inc., a leading provider of IT systems management solutions including IT asset and configuration management, Help Desk, and a powerful overall systems management solution . TriActive’s innovative products use a SaaS (Software-as-a-Service) model to dramatically improve service levels while reducing complexity and total cost of ownership (TCO) for IT departments charged with managing and maintaining wide ranging IT assets. Madison Park Group acted as financial advisor to TriActive on the transaction.
Versata will operate TriActive as a stand-alone entity with a distinct customer service and product team. TriActive joins Versata’s portfolio of enterprise software companies acquired over the past four years. Versata has a proven model of focusing on successful customer relationships and delivering innovation to improve and extend existing products. Versata’s Customer Success Program will be rolled out immediately, emphasizing Versata’s intense focus on aligning investments with customer priorities. This focus will enable TriActive to maximize customer business impact while facilitating healthy and growing multi-decade relationships.
“The acquisition by Versata provides an outstanding path forward for TriActive’s customers and products,” said Poul Nielsen, CEO of TriActive. "Versata has the money, resources and experience to take TriActive to the next level.”
Versata executive Davin Cushman will assume the CEO role at TriActive. “I am pleased to lead TriActive into the future because of its world-class customers and innovative products. Moving forward, we will create even more value for TriActive customers by advancing product development, enhancing support and instituting a near obsessive focus on customer success." Cushman concluded "I am dedicated to ensuring that the ownership and management transition is a positive one for the TriActive customers."
About TriActive
TriActive, Inc., a pioneer of Systems Management On Demand™ and innovator of MSP 2.0, uses a SaaS (Software-as-a-Service) model to dramatically improve service levels while reducing complexity and total cost of ownership (TCO). TriActive offers a modular solution set that enables partners to deliver Managed Services On Demand™, forgoing expensive upfront investment and enabling the solution provider to focus on customer success. For more information about MSP 2.0 - Hosting your success™, visit www.triactive.com
About Versata Enterprises, Inc.
With a global presence covering 45 countries, Versata Enterprises solves the most complex business problems for the world’s largest organizations. Versata Enterprises comprises a number of leading enterprise solution providers, including Versata, Inc., Nextance, Inc., Artemis International Solutions Corporation, Gensym Corporation, Clear Technology, Inc., Everest Software, Tenfold Corporation, Ecora Software, Inc., Evolutionary Technologies, Inc., and AlterPoint, Inc. Versata distinguishes itself in the software industry by focusing on customer priorities as driven by value delivered. Versata’s market-leading Customer Success Program ensures customer involvement in product decisions and business priorities and provides twice-yearly opportunities for customers to score Versata’s performance against commitments. Versata’s world-class engineering capability ensures substantive and valuable product releases, thereby ensuring customer success. Versata’s relentless focus on customer priorities, coupled with an unmatched global engineering capability, provides Versata customers continuous innovation and repeatable value propositions. For more information visit www.versata.com
About Madison Park Group
Madison Park Group is an investment banking firm focused on advising technology and business services companies on pursuing M&A and private equity transactions. Madison Park Group's principals have extensive transaction and operating experience in the technology and business services sectors and have executed over $30 billion in financing and M&A transactions. For additional information, please visit www.madisonparkgrp.com |
