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Business

Pegasystems moves to acquire Chordiant

The business process management software company has moved to buy the customer relationship management software player for around $161.5m (£107m)
Written by Larry Dignan, Contributor

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.

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