Cordys Acquires abaXX
11/06/2007
Cordys, a leading provider of Business Process Management Suite (BPMS) technology, today announced the acquisition of abaXX Technology AG, a leading German-based provider of BPM and vertical industry process-enabled solutions.
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This acquisition enables Cordys to rapidly grow its presence in the German market with a proven team and strong customer base and augment its innovative BPM suite with rich industry-specific applications. Cordys and abaXX customers around the globe will immediately benefit from access to a robust process management solution that is based on a service oriented architecture and comes with deployment-ready vertical applications out-of-the-box. AbaXX customers include companies such as BMW Financial Services, Deutsche Kreditbank and DaimlerChrysler Bank.
"The Cordys and abaXX technologies greatly complement each other and the companies share a common commitment to address the unique, industry-specific needs of customers in market sectors such as banking, insurance and government. Customers of both companies will benefit from a broadened portfolio of products and expertise," said Jan Baan, founder and chairman of Cordys. "For Cordys, abaXX’s extensive financial services experience accelerates our strategic growth in this sector as well as in Germany, one of the most important markets in Europe and a key focus for Cordys. We are pleased to announce the many ways that this acquisition brings value to Cordys, abaXX and the industry at large."
This announcement jump-starts Cordys' German operations and comes on the heels of recent developments by Cordys in Germany, including the appointment of industry veteran Peter Mark Droste to lead the German and Central European operations – demonstrating the company's commitment to this core market.
"Cordys is delivering on the vision of bringing business and IT together for better business process collaboration. We are thrilled to become part of Cordys' innovative team, which highly values abaXX's talent and existing product portfolio. Together we will deliver immediate business value for enterprise customers," said Thorsten Schäfer, CEO for abaXX. "abaXX customers will also benefit from the security and scalability of a large, industry-leading organization with an international footprint as well as the promise of an even stronger development team and product line."
Leveraging Cordys' inherently flexible architecture, abaXX technology will quickly become an integral part of the Cordys offering. Cordys BPMS is a single toolset, built from the ground up to offer comprehensive BPM and SOA capabilities, giving business managers direct control over new and existing processes. Cordys BPMS overcomes today's challenge of collaboration between business and IT by enabling business users to manage their own processes and by giving IT unified control over building and managing the composite applications that automate these processes. By combining abaXX’s J2EE-based front-end portal technology with Cordys' high-performance integration technology, executable business process modeling and real-time business activity monitoring (BAM), the two companies will deliver BPM vertical industry applications that promise dramatic returns on investment.
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