GROUP BUSINESS SOFTWARE ACQUIRES FASTWORKS COMPLIANCE SOFTWARE SUITE
May 21, 2010
FOR IMMEDIATE RELEASE
GROUP BUSINESS SOFTWARE ACQUIRES
FASTWORKS
COMPLIANCE SOFTWARE SUITE
Largest provider of business solutions built on IBM® Lotus technologies to deliver compliance management via the Cloud
Frankfurt, Germany, May 17, 2010 – GROUP Business Software AG announced the acquisition of FastWorks Limited, a leading vendor in compliance management software based in the UK. The acquisition complements GROUP’s strategy for delivering innovative, mission-critical enterprise software solutions via its GROUPLive cloud platform, and doubles the company’s presence in Great Britain.
Since 2002, GROUP has been consolidating vendors in the IBM Lotus software and services market. Last year, the company’s strategy was given a boost when it introduced its award-winning platform as a service, GROUPLive, which allows organizations to obtain business critical software without the additional burden of provisioning and maintaining the systems on which the software runs. And, the solutions available from GROUPLive integrate seamlessly with its customers’ on-premise applications.
Through this latest acquisition, GROUP will extend its existing portfolio of enterprise solutions with the FastWorks compliance software suite for environmental, health and safety, quality assurance and risk management. Comprised of five integrated modules, the FastWorks suite provides a common framework and straightforward approach to managing compliance with regulations and industry standards, as well as internal policies and procedures. FastWorks compliance solutions can be deployed by customers on-premise or subscribed to online, and feature an easy-to-use, web browser-based user interface.
“By bringing 'cloud-based' computing platforms together with proven business applications, we’re able to make compelling solutions like the FastWorks compliance suite accessible for organizations of all types and sizes”, says Joerg Ott, GROUP’s CEO. “Cloud-based offerings have become extremely desirable to organizations as they seek to simplify their IT infrastructures, save money and gain speed to market. This is a trend that is bound to grow in the next few years and our competitors will find it extremely difficult to match the breadth of our products, services, technologies and expertise in this area."
Former FastWorks Managing Director, Tony Bellis, who will be taking a senior management position with GROUP, is equally enthusiastic about the acquisition. "In today's challenging business climate, access to global markets through a well-established organization like GROUP benefits our people, existing customers and future clients. GROUP's strategy has a lot to recommend it as customer's seek ever greater flexibility and value."
CONTACT:
GROUP Business Software, Inc. GROUP
Business Software AG
40 Wall Street, 33rd Floor MesseTurm
New York, NY 10005 60308 Frankfurt
USA Deutschland
Jennifer Meade
