Progress Software announces its acquisition of Savvion, a maker of business process management software, for $49 million.
Progress Software on Jan. 11 announced its acquisition of Savvion, a maker
of business process management software, in a deal worth $49 million.
Progress Software announced the acquisition at its Global Field Operations
Conference in Orlando, Fla.
Savvion has more than 300 customers for its standards-based BPM suite. The
company said in a news release, "The combination of Progress Software's
Business Event Processing (BEP), Business Transaction Assurance (BTA) and
Integration portfolio coupled with the Savvion BPM suite better enables
enterprises to achieve the highest levels of operational responsiveness"
by helping them to "integrate disparate systems and processes."
To read about the Progress Actional 8.1 Business Transaction Management platform, click here.
Richard Reidy, president and CEO of
Progress Software, said in a statement, "We believe that achieving
operational responsiveness has become a business imperative ... Our acquisition
of Savvion enhances our goal of providing] unprecedented business visibility,
responsiveness and business process improvement, coupled with the highest
degree of data integrity and integration."
"The Savvion BPM suite is a perfect
fit for Progress because it offers leading capabilities for business process
modeling and execution," said John Bates, Progress Software's CTO and
head of corporate development. "The suite also uniquely includes other integrated key
capabilities, including business rules management, document management, an
event engine and an analytics engine."
Providing an analytical view on the matter, Maureen Fleming, program
director of IDC's business process
management and middleware research service, was quoted in the same news release
as saying, "As enterprises increase their focus on operational
responsiveness-and most of them are-there is a need to build event-driven
systems that adapt continuously to current and trending business conditions. We
call these 'business navigation systems,' which converge visibility, event
processing and BPM software. Vendors offering all three capabilities as a
system are in a much stronger position [from which] to partner with their
customers to build these new types of high-value applications."
A Savvion customer also weighed in. Sandeep
Phanasgaonkar, president and CTO of Reliance Capital, said in a statement, "The
Savvion BPM suite has quick deployment time. Reliance reduced turnaround time
and increased adherence to SLAs [service-level agreements] after implementing
the Savvion BPM solution. Savvion helped create an 86 percent reduction in
policy generation time. Our ROI was realized in less than six months."