FOR IMMEDIATE RELEASE
Corum Advises VTN Technologies in Acquisition by SilkRoad Technology
BELLEVUE, Wash., November 4, 2008 Corum Group Ltd. today announced the acquisition of its client, VTN Technologies, Inc., the software-based training innovation firm known for its Ol™ Online Learning Environment, by SilkRoad Technology, Inc., a leading provider of talent management solutions.
The complementary nature and tremendous synergies between SilkRoad and VTN was evident right from the very first meeting, said Marshall Warwaruk, vice president of Corum. Both organizations recognized the growing demand for a fully integrated talent management solution especially with the convergence of e-Learning and HR Performance Management. Moreover, the business fit was remarkable: they both addressed critical talent management and e-learning needs in the enterprise market, delivered functionally-rich, complementary Web-based solutions, pursued the same target customers and offered a very attractive value proposition under a SaaS business model.
VTNs Ol is a Web-based learning environment with more than 400,000 subscribed users across world-class client organizations including DirecTV and Rockwell Collins. Ol reduces training costs by automating learning development and management processes. The popular online learning environment product will be integrated into SilkRoads Life Suite under the new brand name GreenLight™.
About VTN Technologies
VTN is a dynamic software company leading the way in technology-based training innovation. VTN's LMS/LCMS product Ol™, Online Learning Environment, gives organizations an easy-to-use, cost-effective, robust learning platform that delivers on the promise of reduced training costs and increased learning effectiveness. VTN, through Ol™, has automated the learning development and management processes, and enabled blended learning strategies that work. Ol™ is built using the latest XML and MS.NET® technology and is SCORM certified.
About SilkRoad Technology
SilkRoad Technology, Inc. provides software-as-a-service (SaaS) solutions that significantly improve the talent within its more than 800 customers across the globe. Through SilkRoads Life Suite™, an integrated talent management solution, companies are able to hire better employees, identify high and low performers, drive a pay-for-performance culture and improve employee tenure. The SilkRoad Life Suite includes OpenHire™ for recruiting management, RedCarpet™ for employee onboarding and life events, WingSpan™ for flexible employee performance management, GreenLight™ for organizational learning, and Eprise™ for employee intranets and content management.
About Corum Group
Corum Group Ltd. is the global leader in merger and acquisition services, specializing in serving software and information technology companies worldwide. For nearly 25 years and with offices in eight countries, Corum has completed over US $6 billion in transactions spanning six continents. Corum also educates the industry with its conferences and publishes the most widely distributed software M&A research. Corums principals are highly experienced former tech CEOs, who are supported by the industrys leading researchers, writers and valuators. The company has spent more than US $20 million to build the worlds largest and most comprehensive buyer database. This knowledge base combined with Corums experience and industry expertise, consistently ensures unequaled success in client engagements. For more information, visit www.corumgroup.com.
We are happy. Based on their proven methodology, many years of experience, first class contacts and - last not least - their dedicated and highly professional representative, Corum identified the right partner for IQProducts and helped us in many ways to close the deal. Without Corum, I am convinced; we would never have sold our company at the valuation we finally achieved.