Verity Inc.,, a leading provider of enterprise software that enables organizations to maximize the return on their intellectual capital investment, announced the signing and closing of its acquisition of Dralasoft Inc., a privately-held software company based in Westminster, Colorado. Dralasoft is a leading innovator of Java-based technology for Business Process Management (BPM) in operation since 2000 serving customers such as Xerox, General Dynamics and Sony.
For an all cash payment of approximately $8 million, Verity acquired Dralasoft, which became a wholly-owned subsidiary of Verity as a result of the transaction. Dralasoft's ongoing business includes its customer base and sales pipeline as well as its technology portfolio, consisting of component-based business process management solutions and business activity monitoring (BAM) software. It includes the award-winning flagship product, Dralasoft Workflow, a comprehensive enterprise BPM suite that features a high-performance and scalable orchestration engine with a suite of graphical tools including Dralasoft Workflow Studio, a best- of-breed visual design tool. In addition, Dralasoft Workflow is an embedded application found in many leading software products used in several vertical markets, such as manufacturing, government, retailing, telecommunications, defense, law, education, entertainment and agriculture.
As part of the transaction Verity is offering continued employment to all Dralasoft employees, including its founder, president and chief technology officer, Suresh Ramaswamy, who, in his new position as vice president of BPM strategy, will report to Mark Seamans, Verity's senior vice president of research and development.
With this acquisition, Verity intends to utilize Dralasoft's BPM technology as a means to better unify the capabilities of Verity's Intelligent Content Services and Content Capture/Process Automation offerings. Dralasoft is recognized by Gartner, a leading independent industry research firm, as a 'visionary' in the BPM market, which is seen by Verity as poised for high-growth. Among the factors contributing to this strong growth potential is the increasing role that BPM has in regulatory compliance, such as Sarbanes-Oxley regulations.
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