Group 1 Software Completes Purchase of Sagent Assets
Powerful Combination of Data Quality and Data Integration Technology Maximizes Value of Customer Information
LANHAM, Md., and MOUNTAIN VIEW, Calif., - October 1, 2003 - Group 1 Software (Nasdaq: GSOF - News) and Sagent Technology, Inc. (OTC Bulletin Board: SGNT - News) 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.
About Group 1
Group 1 Software (Nasdaq: GSOF) is a leading provider of software solutions for data quality, marketing automation, customer communications management and direct marketing applications. Group 1's software systems and services enable over 2,000 customers worldwide to market smarter by helping them find, reach and keep customers. Founded in 1982 and headquartered in Lanham, Maryland, Group 1's solutions are utilized by leaders in the financial services, banking, retail, telecommunications, utilities, e-commerce, and insurance industries. The company's customer base includes such recognized names as Charles Schwab, Entergy, GEICO, L.L. Bean, Wal-Mart and Wells Fargo. For more information about Group 1, visit the company's Web site at http://www.g1.com.
About Sagent
Sagent's patented technology fundamentally changes the way that data warehouses are built and accessed. Sagent's unique data flow server enables business users to easily extend the structure of a data warehouse with new analytics that support immediate business needs. This technology is at the core of Sagent's ETL, EII and business intelligence solutions, as well as multiple partner solutions that address the needs of specific vertical and functional application areas. Sagent has more than 1,500 customers worldwide, including: AT&T, Boeing Employees Credit Union, BP Amoco, Carrefour, Citibank, Diageo, Heineken, Kawasaki, Kemper National Insurance, La Poste, NTT-DoCoMo, Siemens, and Singapore Telecom. Key partners include Advent Software, Cap Gemini Ernst & Young, HAHT Commerce, Hyperion, Microsoft, Satyam, Sun Microsystems, and Unisys. Sagent is headquartered in Mountain View, California. For more information about Sagent, please visit www.sagent.com.
Principals of Fairmount Partners are acting as advisors to Group 1 Software in connection with the acquisition.
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