International IT products and services company the SWORD Group has
acquired substantially all of the assets of ViaNovus including its Paragon suite
of products.
PARAGON Cost Control Management System ™ is the premier owner focused cost management solution for construction and engineering programs available as Software as a Service (SaaS). The PARAGON solution complements the SWORD’s CTSpace SaaS collaboration and business process management
solution. In fact the two products have already been installed for a common client. Customers of other SWORD products including project document control will no doubt also be excited by the addition of this leading cost management capability to the SWORD portfolio of products.
CTSpace Director, Howard Koenig stated “We are pleased to satisfy our clients and prospects requests for an integrated cost management solution. This will accelerate our market growth and adoption of CTSpace.”
This acquisition is expected to bring a new dimension to ViaNovus who will benefit greatly from SWORD Group’s established international presence and proven experience in providing high added-value technology solutions to a world-wide customer base.
“We anticipate that this move will underpin the future growth of ViaNovus and build upon our success over recent years. ViaNovus will be able to utilize the Group’s resources to accelerate its product roadmap and maximize its geographic reach through the Group’s vast international experience and track record of technical expertise in best of breed IT solutions,” said Darrell Garrett co-founder of ViaNovus. “Aligning ourselves with SWORD will give us the opportunity to leverage the Group’s presence into new geographical markets and to work with many of SWORD’s existing clients.”
SWORD Group’s Software Division Chief Operating Officer, Tony Holland, echoed these sentiments by adding: “This is an excellent alignment for ViaNovus and SWORD alike, enhancing our range of offerings and providing a world-class cost management solution relevant to many of our existing markets and customers.
SWORD’s acquisition strategy is designed to augment our existing market sectors and we have demonstrated consistent stability and continued growth through a proven business model. We believe the acquisition of ViaNovus and PARAGON will have a further positive impact on the success of the SWORD Group.”
Notes to Editors:
About SWORD Group
SWORD is an international IT company specializing in the delivery of software and services to regulated industries. A global leader in the delivery of Governance, Risk and Compliance Management solutions SWORD is developing into a leading Software as a Service (SaaS) company with the skills, infrastructure and knowledge to support customers across energy, travel and transportation, healthcare, insurance, banking, telecoms and government.
With offices in 16 countries, SWORD founded in 2000 employs over 2,000 people and last year generated $280 million in consolidated revenue with an operating profit of $46.7 million. The company forecasts that in 2008 its consolidated revenue will exceed $350 million.
www.sword-group.com
About ViaNovus
ViaNovus, with headquarters in California, is the leading provider of Webbased construction program management software and services that introduce the concept of project intelligence into the traditional management process. Its premier product, PARAGON Program Management System, starts at the program level and delivers owner-focused project intelligence on an unlimited
number of projects and their related contracts. Hosted on the ViaNovus 24/7 network or available as a client/server solution, PARAGON provides clear solutions to cost management, schedule adherence and communications. As one of the industry’s premiere project management tools, PARAGON has been used in the management of over $85 billion in construction programs in the
United States, for both public and private industries.
www.vianovus.com