Recognizing the growing role of enterprise systems in assisting companies to meet the increasing challenges of corporate compliance and risk management, SAP AG announced that it is acquiring Virsa Systems, Inc., a privately held supplier of cross-enterprise compliance solutions. The acquisition will deliver value by providing powerful compliance solutions that work across heterogeneous IT environments to reduce risk and cost and provide improved business control, making SAP solutions even more attractive for prospective customers on a global basis. The announcement was made today at Simplify, the 2006 Virsa Customer Conference, being held in Las Vegas, Nevada.
Founded in 1996, Virsa has more than 300 enterprise customers, many of which Global 1000 companies, across all major vertical market segments. SAP stated that the transaction with Virsa is continuing evidence of its strategy to use "fill-in" acquisitions to add to its broad solution offering by gaining specific technologies and capabilities that meet the needs of its customers, within industries or across industries, while maintaining its successful organic growth track record. Terms of the all-cash transaction were not disclosed.
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