SOURCE: ForceLogix


March 18, 2010 07:00 ET

ForceLogix Acquires XenoWize

ForceLogix Continues to Extend Sales Performance Management and Optimization Leadership Through Purchase of Leading Developer of Cloud Software Solutions

CHICAGO, IL--(Marketwire - March 18, 2010) - ForceLogix Technologies Inc. (TSX-V: FLT), the leader in Sales Performance Management (SPM), today announced that it has closed its acquisition of XenoWize, a leading provider of cloud computing software solutions development.

Through the acquisition, ForceLogix enhances its ability to meet the changing market and customer needs to provide the most comprehensive offering of on-demand sales performance management and optimization solutions in the industry. XenoWize has been working with ForceLogix over the last 18 months to deliver the award-winning Optimizer version 4.5 that is the first solution built for sales management to better measure, coach and Optimize their sales force.

"On-demand sales performance management and optimization is the missing link to fulfilling your sales strategies going into 2010 and beyond," said Patrick Stakenas, president and CEO at ForceLogix. "After implementing customer relationship management (CRM), internal strategies call for the Optimization of sales individuals and teams. Delivering this on-demand means that our customers can experience the benefits of maximizing the yield of each sales person within weeks instead of months or years. We expect to be able to bring XenoWize's customer-centric approach and deep domain knowledge in the cloud computing space to our clients, and in parallel, to continue to enhance and support the XenoWize solutions to deliver the industry-leading sales performance management capabilities XenoWize's clients demand."

"The combination of ForceLogix sales performance management expertise with the development capacity and operational maturity of XenoWize assures our continuing customer success," said Marcel Skacel, co-founder and president of XenoWize. "This opportunity will allow us to be even more effective in delivering high quality cloud 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."

Financial terms of the transaction were not disclosed.

About ForceLogix
ForceLogix (TSX-V: FLT) is the market and technology leader in Sales Performance Management (SPM) and Optimization. ForceLogix' 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. Every day, thousands of sales managers and sales people in 14 countries and languages have their performance managed by ForceLogix.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

This transaction was deemed exempt from Exchange review and no Exchange filing was required as; (a) the transaction did not involve the issuance of the Issuer's securities; (b) none of the vendors, or optionors, or purchasers of the asset, business or property interest is a Non Arms Length Party of the Issuer or its Associates or Affiliates; (c) the transaction is conducted in the normal course of the Issuer's operations; (d) the Issuer is not an Issuer that has not been put on notice that it does not meet Tier 2 TMR and may have its listing transferred to NEX pursuant to Policy 2.5 -- Tier Maintenance Requirements; (e) the transaction is not being conducted in conjunction with or in contemplation of an undisclosed Material Change; (f) the transaction is not a Fundamental Acquisition; (g) the transaction is not a Change of Business or Reverse Takeover and is not being conducted in conjunction with or in contemplation of a Change of Business or Reverse Takeover.

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