Chordiant Acquires Web-based Knowledge Management Company, White Spider Software.Acquisition Extends Chordiant's eCRM Product Line to Include
Automated Email and Web Self-Service Applications
CUPERTINO, Calif., July 20 /PRNewswire/ --
Chordiant Software, Inc. (Nasdaq: CHRD CHRD Color High Resolution Display ) today announced it has acquired New Hampshire-based White Spider Software, Inc., a specialist in Internet knowledge management and next generation XML-based software applications.
Chordiant acquired privately-held White Spider in a stock-for-stock purchase, where 476,515 shares of common stock were exchanged for all outstanding White Spider shares and assumed stock options. The transaction is expected to be neutral on planned expenses and positive on revenues. The two companies' operations will be fully integrated, with White Spider's development team remaining in New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). where Chordiant plans to expand engineering resources.
White Spider's Integrated Knowledge Network (INN) syndicates knowledge from a company's internal sources, business partners, third-party databases and customers, allowing them to vastly improve the speed, breadth and accuracy of information and knowledge available to customers. The company's technology and expertise will extend Chordiant's multi-channel offering to include intelligent, automated email response capabilities. Chordiant expects to integrate White Spider's technology with its leading eCRM solution by the fourth quarter of 2000.
Consistent with Chordiant's business-to-individual (B2I) focus, the INN treats each customer differently, learning over time how to best serve each individual according to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. preferences, interaction history and customer type. Regardless of how the consumer has chosen to interact with the company, whether via email or the Web, or through call centers, each consumer will receive a personalized response incorporating their individual needs and the learned knowledge of other customers.
Chordiant 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. Sam Spadafora said, "The commercial potential of broad electronic communities has always been there, but the real value is in uniting companies and services in complementary communities around individuals and their preferences. We are very excited by the tremendous opportunities presented by the synergy between our advanced customer-focused eCRM technology and the personalized information provision capabilities of the White Spider solution."
White Spider president and CEO Jim St. Jean, former chief architect for Vantive Corporation, added, "Customers demand and deserve access to better information that's relevant and meaningful to them, based on who they are, what they do, and their relationships with supplier companies. We believe that we have a great opportunity through Chordiant's complementary eCRM product to deliver that kind of solution."
Additional features of White Spider's INN technology are:
-- The INN enables real-time, dynamic frequently asked questions (FAQs) that change over time according to the behavior of customer groups.
-- A Java-based "Vortex" knowledge engine, the INN "learns" over time what knowledge is most valuable and automatically favors this knowledge in the future.
-- Consumers can create a personal knowledge portal on an organization's Web site giving them a customized view of the organizational knowledge base and allowing them to improve each request or search transaction. Consumers can also save important communications, bulletins, chats, emails, related Web pages and product specifications in private knowledge "domains."
-- The INN technology is completely Web-based and supports interfaces via email, Web browser The program that serves as your front end to the Web on the Internet. In order to view a site, you type its address (URL) into the browser's Location field; for example, www.computerlanguage.com, and the home page of that site is downloaded to you. , XML XML
in full Extensible Markup Language.
Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. and WAP-enabled devices. The technology uses LDAP (Lightweight Directory Access Protocol (protocol) Lightweight Directory Access Protocol - (LDAP) A protocol for accessing on-line directory services.
LDAP was defined by the IETF in order to encourage adoption of X.500 directories. ) to manage domain information and end user profile data.
About Chordiant Software, Inc. - One Click, One Call, One Customer(TM)
Chordiant delivers integrated, multi-channel eBusiness software, which enables consumer companies to implement best business practices over the Web, via email and mobile devices, through call centers, or in branches. It includes built-in support for voice, data and Internet integration, as well as a comprehensive workflow engine Workflow engine is a software application meant to manage and execute modeled business processes.
It is a key component in workflow technology. It will typically make use of a database server. . Chordiant empowers high-value contacts designed to consistently retain customers, grow revenue and drive profits during every contact.
The Chordiant system has been selected by several of the world's leading consumer companies, including Thomas Cook Global Services, Barclays Mercantile, Direct Line, General Motors, First USA Bank and Bank One International. Headquartered in Cupertino, California, Chordiant maintains regional offices in Chicago, Dallas, New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , and London, Amsterdam and Munich. The company's Web site can be found at www.chordiant.com.
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This press release includes forward-looking statements that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those referred to in the forward-looking statements. Such factors include, but are not limited to, risks related to customer and market acceptance of our product, deployment delays or errors associated with these products, hardware platform incompatibilities, reliance on a limited number of customers for a majority of revenue, need to maintain and enhance certain business relationships with application integrators and other parties, ability to manage growth, activities by Chordiant Software, Inc. and others regarding protection of proprietary information, release of competitive products and other actions by competitors, and economic downturns in either domestic or international markets. These forward-looking statements are generally identified by words such as "expect," "anticipate," "intend," "believe," "hope," "assume," "estimate," "plan," and other similar words and expressions.
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