Acresso Software Finalizes Intraware Acquisition
Schaumburg, IL - January 7, 2009
Acresso Software (Acresso), a privately-held company and an investment of private equity firm Thoma Bravo, LLC, announced today it has completed the acquisition of Intraware Incorporated (NASDAQ: ITRA), a provider of digital delivery and entitlement management services. Intraware is now a wholly-owned subsidiary of Acresso.
The combination of Intraware's SubscribeNet service and Acresso's FlexNet® product suite will create the industry leading and most advanced solution for entitlement and compliance management. The structure and terms of the deal have not changed since the agreement announcement on October 20, 2008. Intraware's common stock holders will receive $4.00 in cash for each of their shares.
"Today we welcome the people and products of Intraware to Acresso Software," said Mark Bishof, President and CEO of Acresso. "With the completion of the Intraware acquisition, Acresso continues to focus on our customers' success by providing the most comprehensive electronic software distribution platform available today and meeting a wider set of user needs through the addition of SaaS capabilities to our market-leading entitlement and compliance management solution."
"In just the past few months, SaaS has truly become mainstream, with enterprise growth upwards of 55%," said Michael Fauscette, Group Vice President, Software Business Solutions, IDC. "This shift can be attributed to many factors, including the financial climate, the visibility of SaaS vendors, the broader range of software available in the SaaS model, the general acceptance of SaaS and its value proposition, and the fact that almost all of the major 'names' in software have offerings in the SaaS model. With all these factors coming together, it's easy to see why demand for enterprise SaaS delivery has accelerated."
"The acquisition of Intraware enables Acresso to distance itself from the competition as a clear industry leader with a unique ability to provide best-in-class delivery and entitlement options," said Orlando Bravo, managing partner of Thoma Bravo. "Completion of the Intraware acquisition marks the second strategic industry acquisition for Acresso since Thoma Bravo launched the company just nine months ago."
"The combined companies' customers will be better served with the ability to choose between a hosted and on-premises digital delivery and entitlement management solution," added Seth Boro, principal of Thoma Bravo. "With an enhanced product offering and the addition of a blue-chip customer base, Acresso has further secured its growth potential."
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, salesforce.com and Oracle.
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