CDC Software Agrees to Acquire a Provider of SaaS Registration Solutions
December 08 2010 - 9:02AM
Business Wire
CDC Software Corporation (NASDAQ: CDCS), a hybrid enterprise
software provider of on-premise and cloud deployments, has signed a
term sheet to acquire a provider of software-as-a-service (SaaS)
event and membership management solutions.
In the event that this transaction is completed, CDC Software
believes this targeted acquisition would add key technology to its
CDC Software’s portfolio of enterprise applications, particularly
its CDC gomembers product line that includes end-to-end solutions
for Not-For-Profit (NFPs) and state and local government sectors.
In addition to CDC gomembers, this acquisition would provide
additional functionality for, and generate new cross-selling
opportunities with, CDC Software’s other products that include:
Pivotal CRM, CDC eCommerce and other front office applications. The
proposed transaction is part of CDC Software’s acquisition strategy
to increase its maintenance and SaaS recurring revenue to about 70
percent of total revenue over the next few years.
“We believe this targeted acquisition would add key
functionality to our gomembers solutions that could help enhance
our customers’ marketing, event signups and membership renewals,”
said Paul Plaia, president of CDC Government and NFP business
sector of CDC Software. “We also believe this potential acquisition
would be an excellent addition to our already strong SaaS product
portfolio. This targeted company fits within our disciplined
acquisition criteria and is expected to be earnings accretive.”
The acquisition is subject to several customary closing
conditions, including the completion of due diligence, the
execution of definitive documentation related to the acquisition,
and the receipt of all requisite approvals.
About CDC Software
CDC Software (NASDAQ: CDCS), The Customer-Driven Company™, is a
hybrid enterprise software provider of on-premise and cloud
deployments. Leveraging a service-oriented architecture (SOA), CDC
Software offers multiple delivery options for their solutions
including on-premise, hosted, cloud-based Software as a Service
(SaaS) or blended-hybrid deployment offerings. CDC Software’s
solutions include enterprise resource planning (ERP), manufacturing
operations management, enterprise manufacturing intelligence,
supply chain management (demand management, order management and
warehouse and transportation management), global trade management,
e-Commerce, human resource management, customer relationship
management (CRM), complaint management, non-profit membership
management, government fund accounting and aged care solutions.
CDC Software’s recent acquisitions are part of its “integrate,
innovate and grow” strategy. Fueling the success of this strategy
is the company’s global scalable business and technology
infrastructure featuring multiple complementary applications and
services, domain expertise in vertical markets, cost effective
product engineering centers in India and China, a highly
collaborative and fast product development process utilizing Agile
methodologies, and a worldwide network of direct sales and channel
operations. This strategy has helped CDC Software deliver
innovative and industry-specific solutions to more than 10,000
customers worldwide within the manufacturing, distribution,
transportation, retail, government, real estate, financial
services, health care, and not-for-profit industries. For more
information, please visit www.cdcsoftware.com.
Cautionary Note Regarding Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the United States Private Securities Litigation
Reform Act of 1995, including statements relating to our
expectations for completing this acquisition of the company and the
terms thereof, if at all, our expectations regarding the potential
benefits of acquiring this company, our expectations regarding our
ability to offer new and complementary technologies and products,
our beliefs about the competitive and market position of company,
our beliefs regarding company’s technology and products, our
expectations regarding our ability to attain future expansion and
success with customers company through cross-selling and otherwise,
our plans with respect to the expansion of recurring revenues over
the next few years, our beliefs regarding the earnings accretive
nature of this transaction, our beliefs regarding our ability to
complete the contemplated acquisition, including negotiating
definitive transaction documents, and other statements that are not
historical fact, the achievement of which involve risks,
uncertainties or assumptions. These statements are based on
management's current expectations and are subject to risks and
uncertainties and changes in circumstances. There are important
factors that could cause actual results to differ materially from
those anticipated in the forward looking statements including,
among others: the ability of the parties to agree upon final
documentation and other requirements to complete the transaction,
including the completion of due diligence and other matters, the
conditions of the enterprise software market, the ability of CDC
Software and company products to address the business requirements
of the market, demand for and market acceptance of company
technology, as well as: (a) the ability to realize strategic
objectives by taking advantage of market opportunities; (b) the
ability to make changes in business strategy, development plans and
product offerings to respond to the needs of current, new and
potential customers, suppliers and strategic partners; (c) the
effects of restructurings and rationalization of operations in our
companies; (d) the ability to address technological changes and
developments including the development and enhancement of products;
(e) the ability to develop and market successful products and
services; (f) the entry of new competitors and their technological
advances; (g) the need to develop, integrate and deploy enterprise
software applications to meet customer's requirements; and (h) the
possibility of development or deployment difficulties or delays; If
any such risks or uncertainties materialize or if any of the
assumptions proves incorrect, our results could differ materially
from the results expressed or implied by the forward-looking
statements we make. Further information on risks or other factors
that could cause results to differ is detailed in our filings or
submissions with the United States Securities and Exchange
Commission, including our Annual Report on Form 20-F for the year
ended December 31, 2009, filed with the SEC on June 1, 2010, and
those of our ultimate parent company, CDC Corporation, located at
www.sec.gov. All forward-looking statements included in this press
release are based upon information available to management as of
the date of the press release, and you are cautioned not to place
undue reliance on any forward looking statements which speak only
as of the date of this press release. The company assumes no
obligation to update or alter the forward looking statements
whether as a result of new information, future events or otherwise.
Historical results are not indicative of future performance.
Cdc Software Corp. ADS, Each Representing One Class A Ordinary Share (MM) (NASDAQ:CDCS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Cdc Software Corp. ADS, Each Representing One Class A Ordinary Share (MM) (NASDAQ:CDCS)
Historical Stock Chart
From Jul 2023 to Jul 2024