Acresso Software to Acquire Intraware, Inc.
Creates first comprehensive SaaS and on-premises entitlement and compliance management solution for software producers and high-tech manufacturers
Schaumburg, IL - October 21, 2008 Acresso Software, a privately-held company of Thoma Bravo, today announced a definitive agreement to purchase Intraware Incorporated (NASDAQ: ITRA), a provider of digital delivery and management services. Intraware's SubscribeNet® platform and strong market position in Software-as-a-Service (SaaS) entitlement management and electronic software delivery will extend the global leadership of Acresso's FlexNet® Suite for entitlement and compliance management.
"Along with its technology, Intraware has deep expertise in SaaS application management, and an impressive list of partners and customers, including a number of shared customers," said Mark Bishof, President and CEO of Acresso Software. "Combining these with Acresso's financial and market strengths will greatly benefit Acresso's customers and Intraware's customers."
"Many software producers and high-tech manufacturers want the option of a SaaS delivery model for the applications that run their business, so this is a logical next step," said Orlando Bravo, managing partner of Thoma Bravo. "The addition of Intraware's products and expertise will bolster Acresso's SaaS software distribution and entitlement management solutions," added Seth Boro, Principal of Thoma Bravo.
Trusted by over 3,000 software producers and high-tech manufacturers, Acresso's FlexNet Suite delivers end-to-end entitlement lifecycle management across the compliance spectrum, from license enforcement to usage monitoring. Acresso's FlexNet Suite enables a wide variety of licensing models and rapid package reconfiguration to match specific market needs, delivers insight into customer usage for targeted up-sell opportunities, and streamlines operations through a single view for producers and their customers across all licensing technologies in use. FlexNet Suite includes capabilities to address entitlement management, software licensing, compliance monitoring and delivery of software and updates. The addition of SaaS capabilities makes it easier for software producers and high-tech manufacturers to get started with entitlement management by minimizing the use of IT resources and enabling rapid integration with existing on-premises ERP applications such as SAP and Oracle.
Intraware provides software distribution and entitlement management services for customers such as IBM, Mentor Graphics, Progress Software Inc., EMC Corporation and Sybase, Inc., serving more than 2.7 million end users.
"Thoma Bravo has a successful track record of consolidating strong, growing companies in a number of industries," added Mr. Bravo. "Based on our consolidation expertise, particularly within software, we strongly believe the combination of Acresso Software and Intraware Incorporated will benefit existing customers of both companies and accelerate earnings growth."
The offer will be at a price of $4.00 per share to complete the acquisition, which is expected to close in fourth quarter 2008. Until then, Intraware, Inc. will operate as an autonomous entity.
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