Acquisition of Business Process and Requirements Definition Software Leader Further Strengthens Portfolio
Versata Enterprises, Inc. (Versata), a leading provider of enterprise software solutions, announces today the acquisition of privately held Ravenflow, a leading provider of visual process discovery and requirements definition software.
Ravenflow’s flagship RAVEN software leverages natural language processing technology to transform the way business analysts define, analyze and visualize business processes, use cases, and their associated requirements. Available as a desktop product, as an add-in for Microsoft Office, or through a new web-based subscription service called RAVEN Cloud, Ravenflow allows companies to gain better insight, clarity, and quality in their process improvement and application development projects.
Versata will operate Ravenflow as a stand-alone entity with a dedicated customer service and product team. Ravenflow joins its portfolio of enterprise software companies acquired over the past four years. Integration will begin with implementation of Versata’s Customer Success program, designed to emphasize Versata’s intense focus on successful customer relationships and on alignment of product development investments with customer priorities. Atlas Technology Group LLC acted as financial advisor to Versata and Viant Capital LLC acted as financial advisor for Ravenflow.
“The acquisition by Versata provides an exciting future for Ravenflow’s customers and next generation products,” said Susan Boers, Ravenflow President and CEO. “Through Versata’s highly respected Customer Success program, Ravenflow will be a stronger company and in an even better position to be a leader in both the business process and requirements markets.”
Versata executive Davin Cushman will lead the integration of Ravenflow into Versata and succeed Boers as CEO. “Ravenflow customers strive for excellence in requirements definition and process-driven application development; we are thrilled to help them achieve those objectives.” said Cushman. “Ravenflow’s natural language processing engine is a unique and exciting technology. We look forward to continuing its development and thus extending the benefits for the many customers who use it.”
Ravenflow is a leading provider of process discovery and requirements definition software that allows companies to gain better insight, clarity, and quality in their process improvement and application development projects. Leveraging a patented natural language engine, Ravenflow helps companies analyze and visualize their business processes, application requirements, and system engineering needs. Ravenflow recently was named the fastest growing company in the requirements market, received the 2010 IBM Rational Jazz Innovator Finalist Award, the 2009 IBM Rational ISV Partner of the Year Award, the 2009 Jolt Productivity Award, and was selected as a Gartner "Cool Vendor in Application Development."
About Versata Enterprises, Inc.
With a global presence covering 45 countries, Versata Enterprises solves the most complex business problems for the world’s largest organizations. Versata Enterprises comprises a number of leading enterprise solution providers, including Versata, Inc., Artemis International Solutions Corporation, Nextance, Inc., Gensym Corporation, Clear Technology, Inc., Tenfold Corporation, eCora Software, Inc., Evolutionary Technologies, Inc., Everest Software Inc., PurchasingNet, TriActive, Inc., and AlterPoint, Inc. Versata distinguishes itself in the software industry by focusing on customer priorities as driven by value delivered. Versata’s market-leading Customer Success Program ensures customer involvement in product decisions and business priorities and provides twice-yearly opportunities for customers to score Versata’s performance against commitments. Versata’s world-class engineering capability ensures substantive and valuable product releases, thereby ensuring customer success. Versata also offers customers the opportunity to leverage Versata’s global efficiency by offering a menu of services to help customers lower the cost of technology services across the enterprise. Versata’s relentless focus on customer priorities, coupled with an unmatched global engineering capability, provides Versata customers continuous innovation and repeatable value propositions. For more information, visit http://www.versata.com.