Under terms of the transaction, shareholders of Teltech, a privately held company, will receive Sopheon stock and cash totaling at least $34 million. Teltech shareholders approved the merger of Teltech into Sopheon at a special meeting in Minneapolis on September 8.
“The blending of Sopheon’s software and systems implementation know-how with Teltech’s research, consulting, and content-creation capabilities results in a product and service offering that we believe will have great ‘first-to-market’ advantage,” said Barry Mence, Sopheon’s chairman. “We’re very excited about joining forces.”
The merger immediately gives Sopheon a significant market presence in the U.S., while at the same time enhancing its offering in Europe and the U.K. The company will have 270 employees worldwide.
“The combination of these organizations changes the rules in the knowledge solutions space,” said Andy Michuda, Teltech’s CEO. “Companies can now turn to a single provider for the products and services they need to get the most value from their internal and external knowledge assets.”
Sopheon and Teltech’s experience in structuring, managing, and providing information is the foundation for a powerful combination of vertical software applications, expert services, and specialized content. Sopheon’s software applications come with industry-specific content already built in for speedy implementation. Their use leads to critical business benefits such as reduced time to market for new products, increased productivity and innovation, and sustainable competitive advantage.
The merged company will focus on providing solutions that support information-intensive processes in such key areas as product development, customer relationship management, R&D, and quality management. Companies will be able to access knowledge management software solutions, expert services, and content from a single supplier rather than separate organizations specializing in software development, knowledge management consulting services, or content provision.
According to the announcement, Sopheon is an international provider of knowledge management solutions that help companies more effectively create, capture, and share information and knowledge throughout the organization. Sopheon has operating bases in the U.K., the Netherlands, and the U.S. Its clients are companies in the life sciences, high-tech, manufacturing, and healthcare sectors.
Teltech Resource Network Corp. is a provider of business-to-business research and knowledge management consulting services. According to the announcement, its vertical research portals for business and technical professionals reduce unproductive Internet search time by as much as 50 percent. Teltech’s consulting services assist companies in the development of e-business strategies, and in the creation and implementation of portals for e-business applications. Information on Teltech’s services is available at http://www.teltech.com.
[Editor’s Note: For more on the merger, see Paula J. Hane’s interview with Andy Michuda on page 1.]
Source: Sopheon, plc, Minneapolis, 952/851-7500; http://www.sopheon.com.
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