Johannesburg, 22 Jun 2005
SecureData, a member of the JSE-listed ERP.com Group and the southern African distributor for Rocket Software, today announced the acquisition by the latter of UK-based and employee-owned ASTRAC, a developer of business intelligence (BI) and data mining software solutions that combine the power of IBM enterprise systems with popular Microsoft applications.
The value of the cash deal is $35 million.
ASTRAC's software was originally built by IBM as its application system (AS) offering; ASTRAC was established as an independent firm in 1986, and the company assumed responsibility for supporting AS products under a long-term agreement with IBM in 1997.
ASTRAC has considerably extended the technology it inherited from IBM, and further agreements between the two companies have allowed ASTRAC to grow its technical and marketing capabilities. AS is deployed in mission-critical applications by Fortune 100 companies worldwide.
The acquisition of ASTRAC is Rocket's largest to date. The company recently bought Austin-based Servergraph for $10 million, and has also purchased several other firms in the last three years. In addition to acquiring ASTRAC's award-winning technology, Rocket will dramatically increase its footprint in Europe, Asia and Africa through relationships with ASTRAC's network of resellers and partners.
"This major acquisition is an important step for us as we expand Rocket's global reach and technology portfolio," commented Andy Youniss, CEO of Rocket Software.
"In addition, Europe is a particularly significant market for us, and this deal greatly increases our presence. As part of our commitment to Europe, we are looking forward to expanding the Warwick-based development centre to tap the talent not just at ASTRAC, but in the technologically strategic area of the UK's West Midlands, for new-product development efforts."
"There are powerful synergies between the two companies which give rise to immediate and long-term opportunities for the development of ASTRAC's and Rocket's technologies, customers, partners and people," added Clive Titcomb, founder of ASTRAC. "It's difficult to imagine finding a better partner to take ASTRAC forward to the next level of success."
ASTRAC has received a number of prestigious honours in the last several years:
* The company is a current holder of The Queen's Award for Enterprise, which was presented to the company by the Queen to honour the company's role in developing international trade.
* For the last three years ASTRAC has been named in Deloitte & Touche Technology European Fast 500 companies.
* For five consecutive years the company has been rated as one of the fastest growing technology companies in the UK, rising to 14th position on the Deloitte & Touche Technology Fast 50 UK and securing the top award for sustained growth, outstripping all other technology companies in the UK's Midlands region.
For further information, please contact Andrew Ochse at telephone (011) 257 8600; fax (011) 257 8699; e-mail andrewo@securedata.co.za.
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