ATLANTA, Feb. 7, 2006 (PRIMEZONE) -- Agentis Software, provider of proven technology to rapidly and cost effectively build, deploy, and maintain adaptive business applications, today announced that it has completed a management buyout backed by private equity firm Modena Technologies Capital Partners, LLC. Under the agreement, Agentis Acquisition Corporation, a newly formed company, acquired substantially all of the assets of Agentis International Inc., including the rights to use the trade name Agentis Software in a transaction structured as an asset purchase. Terms of the agreement were not disclosed.
"The buyout transaction will allow the company to continue to fuel its growth and meet the ever-increasing demands for adaptive applications and services through our cutting edge product, AdaptivEnterprise," said James N. Marshall, CEO of Agentis. "I am very pleased that our solution has attracted the interest of strong investment partners like Modena Technologies. These are experienced investors who have helped build and grow significant companies, and our management team looks forward to working with them."
"Agentis has a very high-quality management team," said Diego Gosis, Senior Partner at Modena Technologies. "We are enthusiastic about their opportunities and we are pleased to be working with Agentis to build on their already proven success."
About Flagship Product: The AdaptivEnterprise
AdaptivEnterprise is a unique application development and maintenance platform. It is the only product that provides the flexibility of service oriented architecture (SOA) and the adaptability and responsiveness of an event driven architecture (EDA) for business services, business processes and business knowledge.
AdaptivEnterprise distinguishes itself from other development platforms by applying the concept of goal-driven processing to both business processes and application services. Business processes are modeled in terms of desired business objectives (or "goals") rather than as hard-wired sequential tasks. The reliance on explicit coding is dramatically reduced because processes are expressed as loosely coupled sets of business goals that are dynamically assembled to achieve the overall business objective. Applications built using Agentis can sense and respond to changing business conditions, events and exceptions by always selecting the best business processes to achieve current business objectives. Additionally, applications can be rapidly changed and extended simply by updating or adding new processes and business objectives during any phase of the project lifecycle. This approach eliminates complexity and maintains alignment between your business goals and IT execution.
"Adaptive applications will continue to play a crucial role in most global 2000 firms because business conditions are constantly changing," said Omar Arab, President of Agentis Latin America. "Agentis offers a practical and proven solution for both the technology and business side of any firm, providing the mechanism to align business goals with IT execution while simultaneously reducing the cost of application development and maintenance."
Many global end-user organizations and third party firms (e.g., ISV's and Systems Integrators) use AdaptivEnterprise to create and maintain adaptive enterprise applications. These include: XCEL Energy for Sales/Use Tax Data Consolidation, AXA Financial for Compliance Monitoring and Reporting, Chicago Housing Authority for Tenant Relocation applications and Patagonia Technologies in Latin America for building and maintaining applications at MetroGas, Aeropuerto2000, Caja de Valores, and Quilmes. AdaptivEnterprise is also being used by a major international logistics and transportation company to provide instant status of any package in its global network, and by a European systems integrator to build a credit card fraud application for a bank in France.
About the Investors
Modena Technologies Capital Partners, LLC is a private investment fund that is part of Grupo Werthein. Modena has made numerous investments in e-commerce, software, financial services and digital media and marketing companies. Modena focuses on investments where dramatic growth and market leadership may be achieved, and leverages their operating and investment experience as well as the Werthein Group's global network of operating companies. Modena joins Draper Fisher Jurvetson, Constellation Ventures and Partech International and members of the executive management team as investors in Agentis. For more information about Modena, visit www.modenatcp.com.
About Agentis
Agentis Software provides a low risk and proven platform for rapidly and cost effectively building, deploying, and maintaining adaptive software applications and services. Agentis customers include major global end-user organizations and third party firms in the U.S., Europe and Latin America.
The company is headquartered in Atlanta, GA and has additional offices in Buenos Aires, Argentina.