SDRC Acquires Inovie® Software, Inc.
Acquisition sets up key element in SDRC's collaborative product management strategy
CINCINNATI-April 4, 2001-SDRC (Nasdaq: SDRC) today announced that it has acquired Inovie® Software, Inc. of San Diego, California, a leading provider of Web-based, peer-to-peer collaborative project management software. SDRC is accounting for the transaction as a purchase, and the financial effect is expected to be slightly dilutive to SDRC earnings in 2001.
The acquisition of Inovie sets up a key element in SDRC's collaborative product management strategy, providing a breakthrough enterprise solution that allows companies to reduce costs and cycle times associated with globally diverse programs. SDRC will immediately begin to couple Inovie's project management software with its collaborative product management solutions. With this combination, SDRC's team-centric solutions, accessed through a single collaboration portal, are the first to integrate project management, change control, life cycle integration, and visual product configuration.
SDRC will also continue to offer Inovie's products as they are packaged and sold today to a variety of non-manufacturing industries and end-user applications
The combination of SDRC's Metaphase® product knowledge management (PKM) and Accelis™ e-Business integration suite (e-BI) with Inovie's collaborative project management offerings will facilitate collaboration on enterprise product and project data, while also offering secure, web-based collaborative project management capabilities to manufacturing enterprises and their extended supply chains for:
Inovie's solutions contain the broadest scope of Java-certified functionality available in the market today for virtual business teams that must collaborate both real-time and asynchronously in the global distributed "e-workplace." These collaborative e-workplace capabilities provide:
Quoting an existing Inovie customer from Engelhard Corporation, "There was a gap between the traditional desktop project management tools and what we needed. We were using Microsoft Project and Microsoft Team Manager, but needed much more collaboration. Inovie's solutions provided a way for our team members to see one another's work and to leave their knowledge in detail with their task. We liked the features that allow team members to assign tasks to each other without a manager involved. Inovie has provided us a placeholder for our project deliverables and helped us to clearly define and stick to our target dates."
"SDRC is continuing to aggressively expand its collaborative e-business applications," said Bill Weyand, chairman and CEO, SDRC. "The acquisition of Inovie is one of a series of strategic actions in support of SDRC's goal of providing a complete suite of tools and services for collaborative product management to global manufacturers, thereby increasing our customers' business success and SDRC's business value to our customers."
"Inovie believes there is a tremendous untapped market for collaborative product development and other integrated e-business applications in major corporations throughout the world," said Robert Pryor, president and CEO of Inovie. "We expect that the richness and customer acceptance of SDRC's products, combined with the broad range of functionality within Inovie's collaborative project management applications, will create a new class of enterprise solutions."
Wit Soundview acted as investment advisor to Inovie Software in this transaction.
About Inovie - http://www.inovie.com
Note to Editors: SDRC and Metaphase are registered trademarks, and Accelis is a trademark of Structural Dynamics Research Corporation. Inovie is a registered service mark of Inovie Software, Inc., a wholly-owned subsidiary of Structural Dynamics Research Corporation. All other trademarks or registered trademarks belong to their respective holders.
@ 2000 KFKI ISYS Informatikai Kft.