CDC Software, a subsidiary of CDC Corporation (CHINA), has signed a definitive merger agreement with Saratoga Systems.
The Saratoga CRM solutions are designed for specific vertical industries that are additive and complementary to the vertical industries already addressed by current CDC Software solutions. The acquisition is expected to be completed within approximately two weeks. With approximate annual revenues of US$25 million, the acquisition of Saratoga is expected to be immediately accretive to CDC Software when completed.
"Our acquisition of Saratoga will represent another logical step in our strategy as vertical industry specialists," said Eric Musser, president of CDC Software. "Unlike the slash-and-burn approach of typical consolidators, we believe we are creating real value by expanding the breadth of our industry applications through investments in organic innovation, as well as targeted acquisitions such as this one."
Effective upon the completion of the acquisition, CDC Software will appoint Bruce McIntyre as general manager of Saratoga.