Datawatch Corporation, a leading provider of report management, data transformation and service management solutions, announced that it has acquired Mergence Technologies Corporation, a privately held provider of content management software headquartered in Rutherford, NJ. Mergence products enable collaborative, documented research of enterprise content and metadata to support compliance, auditing, accounting and billing processes.
Mergence has been providing enterprise content and research management services for over five years, primarily to the financial services sector, with sales in 2003 of approximately $1 million and 2004 year-to-date sales of approximately $600,000. Datawatch acquired 100 percent of the shares of Mergence for $2.5 million in cash. In connection with the acquisition there is a payout clause, which provides for Datawatch to make cash payments equal to 10 percent of the sales of the Mergence Researcher product for a period of six years. The Researcher product is in its final development stages with a planned release during this quarter.
Datawatch will rename the acquired subsidiary Datawatch Technologies Corporation (DTC) and plans to consolidate the general and administrative functions into its headquarters in Lowell, but will retain a sales and support office in Rutherford, NJ to provide services to customers in the metropolitan NY area. DTC also has a software development and testing facility in the Philippines.
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