Cartesis' Independence Sets Stage for Accelerated Growth; New Investors and Freedom From Sarbanes-Oxley Create Platform for Expansion.Business Editors/High-Tech Writers NORWALK, Conn.--(BUSINESS WIRE)--Feb. 19, 2004 Cartesis today announces the completion of its acquisition by a group of four major investors. The international investor consortium is led by Apax Partners, one of the world's leading private equity firms, alongside leading international technology investors Advent Venture Partners, CDP CDP (cytidine diphosphate): see cytosine. (1) (Certificate in Data Processing) An earlier award for the successful completion of an examination in hardware, software, systems analysis, programming, management and accounting, Capital Technology Ventures and Partech International. Cartesis will now be able to leverage the vast experience and network of their new investors to accelerate growth on a global scale. The new shareholders, who have strong track-records of helping build successful technology companies, will all be represented on Cartesis' Board. Liberated lib·er·ate tr.v. lib·er·at·ed, lib·er·at·ing, lib·er·ates 1. To set free, as from oppression, confinement, or foreign control. 2. Chemistry To release (a gas, for example) from combination. from the regulatory constraints imposed by the Sarbanes-Oxley Act See SOX. as a result of its former affiliation with the PricewaterhouseCoopers network, the company will now be able to address the entire BPM (Business Process Management) A structured approach that models an enterprise's human and machine tasks and the interactions between them as processes. BPM software provides users with a dashboard interface that offers a high-level view of the operation that typically market and capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the growth opportunities within it. Cartesis has over 1,300 clients, including one in five of the Fortune Global 100 and more than 33% of the Financial Times European 100 companies. With revenues in the EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 80 million range, Cartesis is one of the largest private software companies in Europe and has consistently delivered sales growth, averaging 30% over the last 6 years, and market share gains even in today's challenging economic environment. "Our former affiliation with PricewaterhouseCoopers and Sarbanes-Oxley made it challenging for us to serve some large corporate accounts. Our new investors provide us with the financial and strategic backing to realize our ambitions free from regulatory restrictions. In a difficult market, we have been experiencing strong growth in recent years and with our new investors in place we are well positioned to become the BPM market leader," said Marie-Noelle Gauthier, Cartesis CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Gilles Rigal, Apax Partners commented, "Cartesis is a successful company with a proven business model and a strong market position. Cartesis will now be able to leverage the investor group's resources and experience to continue to provide market-leading BPM solutions and accelerate its growth in the years ahead." About Cartesis Cartesis provides CFOs with a unique business performance management solution to deliver the whole 'story behind the numbers' with unparalleled clarity and insight. Leading multinational companies around the globe rely on Cartesis' software applications to get the full picture and offer timely and relevant information to their stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. . The company maintains offices in Brussels, Frankfurt, London, Madrid, Norwalk, CT, Paris, Tokyo and Utrecht. Cartesis products give global companies the analytic capacity In complex analysis, the analytic capacity of a compact subset K of the complex plane is a number that denotes "how big" a bounded analytic function from  can become. and the flexibility they need to assess the rapid changes in their
market places. One in five of the Fortune Global 100 and more than 33%
of the Financial Times European 100 companies use Cartesis solutions to
obtain unprecedented command over their financial information and
processes.
For more information about Cartesis, please visit www.cartesis.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion