Secures USD 80 Million (Rs 340 crore) investiment to BPMS market

Hyderabad, Apr 18 (UNI) Cordys Holding B.V, Provider of industry-leading business process management suite (BPMS) enterprise software, today announced the successful completion of an USD 80 million (Rs 340 crore) equity financing.

Argonaut Private Equity led the round with an investment of USD 67 million, giving Argonaut a significant minority stake in the company. Jan Baan, founder and majority shareholder of Cordys, also participated.

''Today's announcement represents the single largest round of funding for an independent, private BPMS vendor and points to the uniqueness of Cordays' technology in a rapidly growing BPMS Software market.'' The BPMS market is predicted by Gartner Dataquest to be a USD 1 billion global market by end of 2007 and growing to USD 2.6 billion by 2011.

Cordys currently employs 250 people in Hyderabad. ''Our team in Hyderabad is key to Cordys' ability to compete with larger incumbents'', says Mr Been.

BPMS are the next-generation of BPM software. BPMSs pull together a broader set of tools to provide end-to-end lifecycle support of the business process all within a single model that is shared by all its enabling technology. It is built on an integrated service-oriented architecture (SOA), the gap between business analysts and IT teams is bridged and the time and cost of development and change is reduced dramatically. ''Enterprises are creating more ''agile'' business using BPMSs- in many cases automating tedious manual processes such as purchase order systems and customer service systems''.

UNI