Thursday, April 19, 2007

Argonaut leads $80 million funding of Cordy's

Cordys Holding B.V., provider of industry-leading business process management suite (BPMS) enterprise software, announced the successful completion of $80 million equity financing representing the singlw largest round of funding for an independent, private BPMS vendor.

Argonaut Private Equity led the round with an investment of $67 million securing a 'significant minority stake' in the company, which could be anywhere between 20 and 33 percent.

Headquartered in the Netherlands, Cordys is a global company with over 520 employees in offices in the Americas, Europe, China and India. Cordys currently employs 250 people at its Asia development centre in Hyderabad which is the key to its ability to compete with larger incumbents,

With more than $2 billion under management, Argonaut Private Equity is a diversified global private equity fund. 'This investment in Cordys demonstrates Argonaut's commitment to investing in high potential business with strong ties to India,' said Gagan Kapur, vice president, Argonaut Private Equity. With the investment in Cordys, the total investment by Argonaut in India has reached $170 million in diverse markets.

BMPS' are the next generation of BPM software. BMPS' 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 technologies.

No comments: