Pegasystems to acquire Chordiant Software for $161.5 million
17 Mar 2010
Business process management (BPM) software solutions provider Pegasystems, which has a subsidiary in Hyderabad, in India, is acquiring Chordiant Software, Inc, a customer relationship management (CRM) software and services company for $161.5 million.
Cambridge Massachusetts-based Pegasystems with 2009 sales of $264 million and net income of $32 million develops, markets, licenses, and supports software to automate business processes.
With clients like Aetna, WellPoint, Bank of America, and Credit Suisse, Pegasystems provides rules-driven business process management software designed to help clients in the financial services, insurance, and health care industries update their operations and systems to reflect changes to business goals and strategies.
Pegasystems has been consistently ranked as an industry leader in the business process management segment by both research agencies, Forrester and Gartner.
Cupertino, California-based Chordiant Software having clients mainly in the banking, insurance, cable, and telecom industries develops software to measure business strategy success aimed at improving the customer experience.
Chordiant's customers include Time Warner Cable, T-Mobile, Royal Bank of Scotland, UPS, HSBC, AIG, Barclays among others.
