Callidus Software to Acquire ForceLogix
24 Dicembre 2010 - 3:22AM
Marketwired
Callidus Software Inc. (NASDAQ: CALD), the leader in Sales
Performance Management (SPM), announced today it has signed a
definitive agreement to acquire all of the assets of strategic
technology partner ForceLogix (TSX-V: FLT).
"Sales talent optimization is increasingly becoming an essential
technological investment to help elevate sales performance," said
Leslie Stretch, president and CEO at Callidus Software. "This pure
play SaaS acquisition uniquely positions us to provide the
industry's most complete on demand Sales Performance Management
suite. Organizations, large and small, see the value of improving
sales effectiveness through automation. This solution has impact
for companies with 5 sales professionals to 50,000 sales
professionals. It is applicable in Enterprise B2B sales, Telesales,
Call Center, Consumer, and Channel sales. It takes us into new
markets and at the same time increases the potency of our
commissions solutions."
Through the acquisition, Callidus gains a leading sales coaching
and talent development technology platform, and extends its
footprint to provide the most comprehensive offering of on demand
sales talent lifecycle management solutions. These solutions enable
businesses to drive smarter human capital practices through each
stage of sales development, from sales selection and onboarding, to
goal management, to incentives and rewards, so that organizations
can drive repeatable sales success for more sustainable,
predictable business growth.
ForceLogix is a leading provider of SaaS-based coaching and
talent development solutions that help organizations optimize and
increase the effectiveness of their sales force. The flexible and
open platform enables businesses to rank sales professionals and
call center agents based on different corporate objectives from
multiple data stores across the enterprise. Managers can then
easily identify the activities and skills that drive top
performance on specific key performance indicators with built-in
visualization technology, and use these profiles to implement the
right sales talent strategy, from hiring, to onboarding, to
on-going coaching programs. The solution is pre-integrated with
Callidus' On Demand Monaco suite, as well as salesforce.com.
Under the terms of the agreement, Callidus will pay
approximately $3.75 million in cash to ForceLogix Technologies Inc.
for substantially all the assets relating to the ForceLogix
business. We expect the acquisition to be accretive in 2011. The
acquisition is subject to customary closing conditions and is
expected to be completed in the first quarter of 2011.
Callidus will be available to answer questions on the
acquisition on its regularly scheduled fourth quarter conference
call. Additional details and information about the terms and
conditions of the acquisition will be available in the form 10K
report for 2010 to be filed with the Securities and Exchange
Commission (SEC).
About Callidus Software®
Callidus Software (NASDAQ: CALD) is the market and technology
leader in Sales Performance Management (SPM). Callidus customers
gain a competitive advantage by maximizing sales cost efficiencies
and driving improvements in sales effectiveness. Our award-winning
Software-as-a-Service (SaaS) applications set the standard for
performance management of a company's sales force and channel
partners. Over 2 million employees and channel partners have their
performance managed by Callidus Software. For more information,
please visit www.callidussoftware.com.
About ForceLogix Inc.
ForceLogix was created to help leading sales organizations
better measure, coach, and optimize their sales force. Through
utilizing affordable on demand technology solutions, companies can
improve their business performance through automating the sales
management process. ForceLogix enables companies to easily and
affordably design, implement, manage, audit, coach, and communicate
sales performance. Companies can dramatically improve sales
performance and results through the utilization of these tools.
ForceLogix provides solutions to thousands of Sales Managers and
individual sales people worldwide. For more information, please
see: www.forcelogix.com.
Note on Forward-Looking Statements
The forward-looking statements included in this press release,
including estimates on the expected timing of the closing of the
acquisition, growth in the market for sales talent optimization
solutions, the expectation that the acquisition will be accretive
in 2011, and the expected benefits of the acquisition reflect
management's best judgment based on factors currently known and
involve risks and uncertainties. These risks and uncertainties
include, but are not limited to, response of customers to the
acquisition, our ability to complete the acquisition and
successfully integrate the business, potential disruption of
customer purchase decisions resulting from global economic
conditions, timing and size of orders, potential material
fluctuations in financial results and future growth rates,
decreases in customer spending, increased legal expense related to
pending litigation, uncertainty regarding purchasing trends in the
SPM market, customer cancellations or non-renewal of maintenance
contracts or on-demand services, our potential inability to manage
effectively any growth we experience, uncertainty regarding the
demand for and profitability of our on-demand services, increased
competition or new entrants in the marketplace, and other risks
detailed in Callidus' reports filed with the Securities and
Exchange Commission (SEC), including its Form 10-K for 2009 and
Form 10-Q for the first, second, and third quarters of 2010, copies
of which may be obtained by contacting Callidus Software's Investor
Relations department at 408-808-6577, or from the Investor
Relations section of Callidus Software's website
(www.callidussoftware.com). Actual results may differ materially
from those presently reported. We assume no obligation to update
the information contained in this release.
©1997-2010 Callidus Software Inc. All rights reserved. Callidus
Software, the Callidus Software logo, and TrueComp Manager are
trademarks, service marks, or registered trademarks of Callidus
Software Inc. in the United States and other countries. All other
brand, service or product names are trademarks or registered
trademarks of their respective companies or owners.
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Investor Relations Contact: Ron Fior 925-251-2205
ir@callidussoftware.com Press Contact: Lorna Heynike
925-251-2207 pr@callidussoftware.com
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