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

"We anticipate that this move will underpin the future growth of CTSpace and build upon our success over the past few years. CTSpace 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 Howard Koenig, CEO of CTSpace. "Aligning ourselves with SWORD will give us the opportunity to leverage the Group's presence into new geographical markets and support our clients' multi-national interests."

Additionally, the acquisition will enhance SWORD's range of offerings to the Group's existing markets and clients. As a leader in this field, we will also provide SWORD with the opportunity to review its hosted and licensed software offerings to see where else within the Group a SaaS delivery model may be applicable.

SWORD's (www.sword-group.com) acquisitions are always designed to augment the Group's existing market sectors, and they have consistently demonstrated stability in its continued growth through well established financial governance. Prior to this acquisition, CTSpace's most recent funding round was led by Insight Venture Partners and GRP Partners. William Blair & Company assisted in the acquisition.

About CTSpace

CTSpace is the award-winning provider of on-demand collaboration and business process management solutions that readily scale from departmental to enterprise-wide. The company's SaaS solutions and services allow asset owners to seamlessly and securely share information, automate complex business processes, collaborate and communicate with their supply chain partners, to more effectively manage corporate knowledge no matter where they are based.

Clients include sector leaders such as Shell, GE, Balfour Beatty, BP, BNP Paribas, Centrica, Chicago Transit Authority, Odebrecht, STRABAG and NNE. CTSpace has capitalized on the global market opportunity for SaaS applications, offering enterprises a scalable collaboration platform that avoids the up-front implementation costs of traditional software. Customers benefit from a low-cost, low-risk and easy-to-use solution available on a 24x7 basis to improve efficiencies. The company is headquartered in San Francisco with offices in the UK, Germany, France, Austria, India and Dubai.

Trackback(0)

TrackBack URI for this entry

Comments (0)

Subscribe to this comment's feed

Write comment