SOURCE: Versata


February 24, 2011 12:51 ET

Versata Enterprises Acquires geoVue

Acquisition Adds to Versata's SaaS Portfolio

AUSTIN, TX--(Marketwire - February 24, 2011) - Versata Enterprises, Inc. (Versata), a leading provider of enterprise software solutions, announced today the acquisition of Boston-based geoVue, Inc. (geoVue), the leading provider of location intelligence, modeling and analysis solutions to retailers, restaurants, and service companies for market ranking, optimization, site selection and sales forecasting. geoVue's products support effective decision making and integrate seamlessly with real estate and marketing processes to deliver exponential ROI.

Versata, based in Austin, Texas, will operate geoVue as a standalone entity. It will leverage a powerful virtual operating model enhanced by vast development resources to accelerate R&D and deliver excellent product. The operating model will bring further standardization and increased focus on geoVue's new SaaS platform. 

"The acquisition by Versata provides a powerful foundation for our products as they extend deeper into our clients and their processes," says Jim Stone, geoVue's founder. "I think that our clients can capture even more ROI by changing how they think about solutions such as geoVue. Versata's innovative Customer Success program makes me comfortable that our client relationships will be in good hands."

"geoVue is at a turning point. Its recently developed SaaS platform requires different scale and resources," says Atanas Popov, geoVue's new president. "We bring unmatched software development expertise. I am confident that this, together with our collaborative approach and obsession with value will deliver outstanding results for geoVue's many customers. We are excited to have Jim and his company in our network."

Integration will begin with Versata's Customer Success program, designed to emphasize Versata's intense focus on successful customer relationships and alignment of investments with customer priorities. Versata's focus maximizes customer business impact while facilitating healthy and growing multi-decade relationships.

"geoVue's strong technology and broad customer base of leading retailers and restaurants is a great fit for Versata," commented Jonathan Adler, Managing Director at Madison Park Group, who helped structure the deal. "Versata's financial strength and operational expertise will help to ensure its continued success."

About geoVue
geoVue is the leading provider of location optimization and modeling solutions for retail, restaurant and service-based chains and franchises seeking to maximize return on capital investment. geoVue's solutions automate and improve the store development process, from ranking, prioritizing and selecting markets, to opening new locations, to closing underperforming locations. geoVue's deep domain expertise has helped leading chains nationwide optimize store networks and maximize ROI.

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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., and Evolutionary Technologies, 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.

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About Madison Park Group
Madison Park Group is an investment banking firm focused on advising technology and business services companies on pursuing M&A and private equity transactions. Madison Park Group's principals have extensive transaction and operating experience in the technology and business services sectors and have executed over $30 billion in financing and M&A transactions. 

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