SOURCE: CTSpace

April 25, 2008 13:39 ET

ViaNovus Acquired by SWORD Group, CTSpace Business Unit

SAN FRANCISCO, CA--(Marketwire - April 25, 2008) - SWORD Group, the international specialist IT Products and Services Provider and a Microsoft Certified Gold Partner, are delighted to announce International IT products and services company the SWORD Group has acquired substantially all of the assets of ViaNovus including its Paragon suite of products. ViaNovus will be operated as a unit of CTSpace.

PARAGON Program Management System™ is the premier owner focused cost management solution for construction and engineering programs available as Software as a Service (SaaS). The PARAGON solution complements the SWORD's CTSpace SaaS collaboration and business process management solution. In fact, the two products have already been installed for a common client. Customers of other SWORD products including project document control will no doubt also be excited by the addition of this leading cost management capability to the SWORD portfolio of products.

CTSpace Director, Howard Koenig, stated, "We are pleased to satisfy our clients and prospects requests for an integrated cost management solution. This will accelerate our market growth and adoption of CTSpace."

This acquisition is expected to bring a new dimension to ViaNovus, who will benefit greatly from SWORD Group's established international presence and proven experience in providing high added-value technology solutions to a world-wide customer base.

"We anticipate that this move will underpin the future growth of ViaNovus and build upon our success over recent years. ViaNovus will be able to utilize the Group's resources to accelerate its product roadmap and maximize its geographic reach through the Group's vast international experience and track record of technical expertise in best of breed IT solutions," said Darrell Garrett, co-founder of ViaNovus. "Aligning ourselves with SWORD will give us the opportunity to leverage the Group's presence into new geographical markets and to work with many of SWORD's existing clients."

SWORD Group's Software Division Chief Operating Officer, Tony Holland, echoed these sentiments by adding: "This is an excellent alignment for ViaNovus and SWORD alike, enhancing our range of offerings and providing a world-class cost management solution relevant to many of our existing markets and customers.

"SWORD's acquisition strategy is designed to augment our existing market sectors, and we have demonstrated consistent stability and continued growth through a proven business model. We believe the acquisition of ViaNovus and PARAGON will have a further positive impact on the success of the SWORD Group."

Notes to Editors:

About SWORD Group

SWORD is an international IT company specializing in the delivery of software and services to regulated industries. A global leader in the delivery of Governance, Risk and Compliance Management solutions SWORD is developing into a leading Software as a Service (SaaS) company with the skills, infrastructure and knowledge to support customers across energy, travel and transportation, healthcare, insurance, banking, telecoms and government.

With offices in 16 countries, SWORD founded in 2000 employs over 2,000 people and last year generated $280 million in consolidated revenue with an operating profit of $46.7 million. The company forecasts that in 2008 its consolidated revenue will exceed $350 million.

www.sword-group.com

About ViaNovus

ViaNovus, with headquarters in California, is the leading provider of Web-based construction program management software and services that introduce the concept of project intelligence into the traditional management process. Its premier product, PARAGON Program Management System, starts at the program level and delivers owner-focused project intelligence on an unlimited number of projects and their related contracts. Hosted on the ViaNovus 24/7 network or available as a client/server solution, PARAGON provides clear solutions to cost management, schedule adherence and communications. As one of the industry's premiere project management tools, PARAGON has been used in the management of over $85 billion in construction programs in the United States, for both public and private industries.

Forward-Looking Statements

ALL statements in this document that do not directly and exclusively relate to historical facts constitute "forward-looking statements" within the meaning of that term in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. These statements and this information represent the SWORD Group's (SWORD) intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, of which many are beyond the control of the Company. These factors could cause actual results to differ materially from such forward-looking statements or forward-looking information. These factors include and are not restricted to the timing and size of new contracts, acquisitions and other corporate developments; the ability to attract and retain qualified members; market competition in the rapidly evolving information technology industry; general economic and business conditions, foreign exchange and other unspecified factors.

The words "believe," "estimate," "expect," "intend," "anticipate," "foresee," "plan," and similar expressions and variations thereof, identify certain such forward-looking statements or forward-looking information, which speak only as of the date on which they are made. In particular, statements relating to future performance are forward-looking statements and forward-looking information. SWORD disclaims any intention or obligation to publicly update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements or on this forward-looking information. For more information about the SWORD GROUP please visit our website www.sword-group.com

Contact Information

  • For further information on SWORD GROUP and its growth plans please contact:
    Howard Koenig
    SWORD UK
    Email: Email Contact
    Tel: (+1) 415 216 2332