Products included in the transaction focus on workflow, content management, electronic forms, records management, image capture and report management. This purchase reinforces eiStreamâs strategy to continue to strengthen its offerings in the BPM space through strategic acquisition and ongoing development efforts.
In a separate and significant product licensing transaction, eiStream has also agreed to become the largest reseller to date of FYI VisualÃ, the award-winning Business Activity and Business Process Monitoring technology. The FYI Visual product will be retained by the Identitech founders and will become the centerpiece of a newly branded corporate entity to be announced later in the first quarter of 2004.
"The acquisition of the Identitech products further expands our offerings with a well integrated BPM solution and a significant customer base," said John Oldham, vice president of sales and marketing at eiStream. "This was a strategic purchase for eiStream for many reasons including the functional strength and quality of Identitechâs BPM offering, Identitechâs focus on state and local government and the caliber of the Identitech staff."
eiStream will retain a majority of Identitechâs staff including development, support, professional services and sales personnel, as well as the Identitech facility in Melbourne.
The acquisition again highlights eiStreamâs willingness to make strategic investments for maintaining its leadership in the industry while enhancing its product line and strengthening its customer commitment, according to James K. Watson Jr., Ph.D., founder and chief executive officer of Doculabs, Inc., a technology consulting firm.
"With the acquisition of the Identitech brand and product line, eiStream is well-positioned, with worldwide breadth and distribution channels, for significant market growth," Watson said. "As the Content Management industry consolidates, eiStream continues to successfully complete transactions that improve its financials, broaden its product offering and fit well with its focus on the financial services, insurance and government market sectors. Identitech products have all of the components â content, process, capture, records management, electronic forms, monitoring and, eventually, simulation â to enhance a leadership role for eiStream."
"We believe that this business relationship will provide the best possible outcome for our employees, customers and our products," said Kerry Gilger, founder and CEO of Identitech, Inc. "eiStream will be in a position to support fully the BPM solutions while allowing our newly formed organization to give undivided attention to the success of FYI Visual."
Oldham agreed, saying eiStream believes the agreement will strengthen the companyâs commitment to providing innovative technology and unsurpassed customer service to its customers.
"We are also excited about the opportunity to provide innovative technology from a growing, viable technology vendor. eiStream has a solid reputation for providing innovative BPM solutions and world-class customer service and support," Oldham said.