Progress Annual Meeting of Shareholders - May 31, 2012 - Should we expect some direction?
Progress 2012 Annual Meeting of Shareholders is planned for May 31, 2012. In the April 25th announcement Progress Software had mentioned its decision to divest in 12 products including Business Process Management product "Savvion Business Manager".
The upcoming shareholder meeting should have some positive impact on the direction moving forward. While things are not clear as to Progress is planning to sell or launch Savvion as its subsidy, this meeting will hopefully give some direction to the discussion.
In a recent press release Progres Said:
“Progress’ Board of Directors and management team are dedicated to building value for all shareholders through the implementation of our new strategic plan, which we announced on April 25, 2012. This plan represents a significant strategic shift for Progress that we are confident will fundamentally reposition the Company and drive growth, increase profitability and enhance shareholder value. We are especially pleased that our shareholders, including Starboard, support our strategic plan.”
Independent analysts are speculating that the following companies could possibly be interested in the product
- ERP: ERP Companies like SAP who do not have a BPM product offering. As far as Savvion is concerned, even I have been part of several projects were Savvion BPM Runs on top of SAP and it would make lot of Sense for SAP to include SAvvion in its product suite.
- Software: Large Software companies like Accenture, HP who have plans to enhance their product offerings could also be interested in getting Savvion included. A mature product like Savvion with a good customer base could mean reaching the breakeven much faster.
- BPM Companies: While I don't really agree to this but there could be a possibility for large BPM companies like IBM (Lombardi) or Oracle to buy Savvion and slowly position their own product to the existing customers as a choice. This will help them get ahead of the competition.
While Progress is keeping quite on its decision, all that we can do is wait and watch.
Lets keep our fingers crossed.