Group 1 Software Completes Purchase of Sagent Assets
Thursday, October 02, 2003
LANHAM, Md., and MOUNTAIN VIEW, Calif., Oct. 1 -- Group 1 Software and Sagent Technology, Inc. today announced completion of the acquisition of the Sagent assets by Group 1. "We are very pleased to complete the Sagent transaction, which enables us to offer the market's widest array of data quality, integration and enrichment technologies," said Bob Bowen, CEO of Group 1 Software. "Sagent gives us leading data integration and business geographics software, talented personnel and a wealth of new customers worldwide. Additionally, Sagent's strong global presence provides strategic sales and distribution opportunities for Group 1's core technology in growing markets such as Japan, South Korea, China and others areas of Southeast Asia while increasing Group 1's market strength in Europe. Domestically, our sizable sales organization is well positioned to increase the market opportunities for Sagent's data integration and business geographics technologies." "In the recent months, Group 1 customers in both of our operating divisions have demonstrated significant interest in the Sagent technology, while Group 1's technology has been well received among Sagent's installed base," continued Bowen. "Since the acquisition was announced, Group 1 and Sagent have teamed successfully on a number of joint sales efforts." "I'm extremely pleased with this transaction since we believe it provides for a successful outcome for our shareholders, employees, distribution partners and customers," said Andre M. Boisvert, Chairman and CEO of Sagent. Group 1 plans to continue to support Sagent's Data Flow product for data extraction, transformation and loading (ETL), which will be marketed as a standalone offering as well as integrated with Group 1's data quality solutions. Utilizing Data Flow, organizations can enhance customer relationship management (CRM), business intelligence, enterprise information integration (EII) and enterprise resource planning (ERP) initiatives. Sagent's Centrus technology will enable Group 1 to go to market with the broadest array of business geographics software available. Group 1 is immediately launching development programs to enable Data Flow to be used on additional Unix platforms (IBM AIX and HP UX) and to build out its core functionality to meet expanded and future market demands. Additional initiatives will be undertaken in the coming months to enhance the competitiveness of Centrus technologies as well.