SOURCE: Callidus Software Inc.

Callidus Software Inc.

January 12, 2010 19:17 ET

Callidus Software Acquires ActekSoft

Callidus Continues to Extend Sales Performance Management Leadership Through Purchase of Leading Provider of Commission and Compliance Software Solutions for Insurance and Financial Services Industries

SAN JOSE, CA--(Marketwire - January 12, 2010) - Callidus Software Inc. (NASDAQ: CALD), a leading provider of Sales Performance Management (SPM) software, today announced that it has closed its acquisition of ActekSoft (also "Actek" or "ACTEK, Inc."), a leading provider of commission and compliance software for complex selling environments.

Through the acquisition, Callidus Software extends its footprint to provide the most comprehensive offering of on-demand and on-premise sales lifecycle management solutions in the insurance and financial services industries. These solutions optimize agent capacity planning, selection and on-boarding, licensing and appointment management, and pay for performance, giving customers the ability to align their sales force and channels with their business objectives and consistently and reliably execute on sales results.

"The insurance marketplace is the proving ground for sales performance management," said Leslie Stretch, president and CEO at Callidus Software. "Commissions processing and agent lifecycle management are the most business critical elements to these clients. The combination of Callidus and ActekSoft provides, in a single step, a level of operational excellence and industry knowledge that is currently unmatched by any of our competitors. This, coupled with our global footprint, ensures Callidus is in pole position to meet the needs of any company considering a commissions and sales lifecycle management solution. We expect to be able to bring ActekSoft's customer-centric approach and deep domain knowledge in the commissions space to our clients, and in parallel, to continue to enhance and support the ActekSoft solutions to deliver the industry-leading agent management and commissions capabilities ActekSoft's clients demand."

"The combination of ActekSoft with the development capacity and operational maturity of Callidus Software assures our continuing customer success," said Farley Lavett, co-founder and president of ActekSoft. "This opportunity will allow us to be even more effective in delivering high quality solutions to our growing base of satisfied customers. We are proud to become part of the world's leading SPM company and look forward to enhancing the broad portfolio of business management, technology, and client services that we bring to the marketplace."

With the addition of ActekSoft, Callidus Software now serves customers in over 140 countries. Callidus Software and ActekSoft are two of the only three companies that received a "positive" rating in Gartner's 2009 MarketScope for Insurance Compensation Management Applications (1).

Financial terms of the transaction were not disclosed.

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 execution. Our award-winning Software-as-a-Service (SaaS) applications set the standard for performance management across the sales force. Over 2 million employees and channel partners have their performance managed by Callidus Software.

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(1) Gartner, Inc., "MarketScope for Insurance Incentive Compensation Management Applications, 2009," by Steven Leigh, December 16, 2009.

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