ProgressSoftware Corporation (NASDAQ: PRGS), a leading software provider that enables enterprises to be operationally responsive announced today at its Global Field Operations Conference the acquisition of Savvion Inc., a privately held business enterprise software company based in Santa Clara, California, for approximately $49 million, net of cash acquired.
Savvion is a pioneering and leading provider of Business Process Management (BPM) technology with 15 years of market experience. The company offers a comprehensive, standards-based BPM suite that helps more than 300 of the world’s top-performing companies – including 24 of the ‘Fortune 100’ – automate and continuously improve critical business processes.
Read the full press statement here
Not even past the first month in 2010 and there’s another acquisition to join IBM and SoftwareAG from 2009. We asked an insider in the vendor community what all this M&A activity could amount to and they said:
“This is a reflection of two things; the heat surrounding the BPM market and the realisation that BPM as a solution philosophy is game changing to the world of business. There is no evidence that acquisitions, BPM or otherwise, fundamentally improve solutions. Has the IBM acquisition of Filenet resulted in any sort of improvement to the IBM BPM offering? The market is not necessarily weakened though as new entrants are encouraged by the expanding gaps between the reduced number of vendors. Somewhere out there two guys in a garage are working on the next iteration of BPM. Sure, its tough to break into the software market but it has happened many times before.”