Pegasystems moves to acquire Chordiant
Pegasystems, a business process management software company, said on Monday it will acquire Chordiant Software in a deal valued at $161.5m (£107m), or $5 a share.
With the deal, Pegasystems gets access to the customer relationship management software player's maintenance revenue stream. Chordiant reported revenue of $76.3m for the 12 months ended 31 December and had $52.3m in cash and equivalents.
Pegasystems has turned itself into one of the leading business process
management players and is one of the few larger independents left
standing. Pegasystems' software aims to automate common business
processes. IBM
picked up Lombardi in December and Progress Software acquired
Savvion earlier this year.
For more on this story, see Pegasystems buys Chordiant for $161.5 million on ZDNet.com.