Advised Cape Clear Software, an ESB platform vendor, on its acquisition by Workday, the pioneer in on-demand ERP solutions
We are pleased to announce that Arma Partners has acted as exclusive financial advisor to Cape Clear Software Inc., the industry’s leading Enterprise Services Bus (ESB) provider, on its acquisition by Workday, Inc. announced on February 6, 2008. This acquisition reflects Workday’s intent to take greater responsibility for customer integrations and to accelerate its efforts to support customers with packaged and custom Integration On Demand.
Workday, founded in 2005 by former PeopleSoft founder and CEO Dave Duffield, delivers the first on-demand alternative to Enterprise Resource Planning packages with a new generation of solutions designed for today’s dynamic, global businesses. Workday sees integration as a core requirement for customers and has used the Cape Clear ESB as a component of every Workday deployment to provide universal, open standards-based connectivity for virtually all types of business applications, information and processes.
Recognized by Gartner, Forrester, and IT-Week Magazine as the leading ESB, Cape Clear is in deployment by leading financial services, communications, software on demand, media, government, energy, transportation, and defense organizations. Founded in 1999, Cape Clear is backed by Accel Partners, Greylock Partners, ACT Private Equity and InterWest Partners.
Financial terms of the transaction were not disclosed and Workday expects to complete the purchase in 30 days.