Mergers & Acquisitions

Mergers & Acquisitions

July 12, 2011

Pariveda Solutions Acquires California-based Softagon Corporation

Pariveda Solutions, Inc., a provider of strategic consulting services and technical solutions expertise, has acquired Softagon Corporation, a California-based software and services company specializing in solutions for hedge funds, investment managed firms and corporations.

Since its founding in 1998, Softagon has been preferred by leading hedge funds, investment firms and technology companies because of a track record of successfully creating custom software that results in real value and improvements in operational and investment performance.

As part of the acquistion, Pariveda will retain all of Softagon's employees and will continue to provide quality service to their clients without disruption.

"We are excited to be combining forces with Softagon," said Bruce Ballengee, CEO of Pariveda, in a statement.

Ballengee said that this strategic acquisition is aligned with Pariveda's objective to attract top talent and expand into new markets, utilizing a local project delivery model.

“Softagon's employees, customer base and assets complement our business model and we look forward to providing additional areas of financial solutions expertise to our portfolio, helping executives drive business value through delivering technology solutions at the edge," he said.

Headquartered in Dallas, Texas, Pariveda Solutions, Inc. is an information technology consulting firm delivering strategic services and technology solutions at the edge. Pariveda's technology solutions include custom application development, business intelligence (BI), mobility, portal and enterprise content management, customer relationship management (CRM) and cloud computing. In addition, Pariveda also provides strategic services around business systems planning and project management.

Eric Wells, Founder and CEO of Softagon said that Pariveda's mission and focus on talent development offer a strong complement to Softagon's experience in developing advanced custom software applications for financial services firms.

"We very much look forward to contributing to Pariveda's growth in the New York and San Francisco markets," said Wells.

Anil Sharma is a contributing editor for TMCnet. To read more of his articles, please visit his columnist page.

Edited by Rich Steeves

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