BuildOnline and Citadon merge to take global Software as a Service top spot

BOSTON, December 13, 2006 - Two leading providers of Software as a Service (SaaS) collaboration, BuildOnline and Citadon, have agreed to merge, creating the only truly global SaaS collaboration company. The merged entity will be known as CTSpace. 

The SaaS business model has enabled both businesses to realize significant growth over the last eight years. The combined company boasts a global footprint serving some of the world's leading multinational companies such as Balfour Beatty Construction Ltd, BNP Paribas, Chicago Transit Authority and STRABAG.

CTSpace's web-based collaboration, business process management and document management solutions allow companies to automate and streamline communications between departments, offices, companies, and countries - without purchasing costly hardware or software. The SaaS model ensures customers running business-critical projects benefit from a faster turnaround, increased accountability, reduced risk, and cost savings.

The new company's management team will consist of representatives from both BuildOnline and Citadon. Howard Koenig, formerly CEO of Citadon will be CEO and Mark Suster, formerly CEO of BuildOnline will be a Board of Directors member. The combined company will be headquartered in San Francisco, California with offices in the UK, Germany, France, Austria, India and Dubai. The merged company will continue to support customers using current versions of products from both Citadon and BuildOnline.

"The synergies across our software platform and customer portfolio put the new organization in a unique position to deliver solutions and services to clients on a global basis, which no other player in this market can do," said Howard Koenig, CEO of CTSpace. "The current market landscape consists of either small niche players with no global reach to meet client demands, or larger organizations trying to jump on the SaaS bandwagon with complex, feature heavy solutions that are difficult and costly to implement."

By combining their significant research and development investment, CTSpace will offer clients a standardized software platform that is zero-risk and can be rapidly deployed on a global scale. Customers will be offered extended, global 24/7 customer support, professional services and large-scale implementation expertise.

"Our client list already reads like a who's who in key vertical industries," said Mark Suster. "Now combined, we are unrivalled in our ability to provide global collaboration expertise. The track record of the two organizations, in improving communication on the world's largest and most complex programs and projects to ensure they are delivered on time and to budget, is outstanding. Culturally we have the same vision for collaboration - to bring it to the world's largest organizations via the SaaS model".

Background on BuildOnline and Citadon

BuildOnline was founded in the UK in 1998 and helped organizations streamline business processes, improve productivity, simplify communication and reduce costly errors by allowing people to access the information they needed on a 24x7 basis. Its SaaS collaboration, document management & tendering solutions facilitated ease of access and enabled rapid deployment for a single company or across multiple organisations.

Citadon was founded in the US in 2001 and was an award-winning provider of SaaS Collaboration and Business Process Management solutions for distributed and project-oriented organizations. Citadon provided web-based solutions that enabled customers and their constituents to seamlessly share and manage a wide variety of document types, automate complex business processes, collaborate, and communicate without barriers.