Progress Savvion Sale - Update
In a recent Linked In Customer Group Meeting, Dr. Ketabchi (Founder of Savvion, currently Chief Strategist, Progress Software), threw some light on the the status of Savvion sale. Here are some of the points
- Immediately after the Progress announcement to divest in Savvion, a number of companies approached Progress indicating interest in buying the product
- Progress identified a set of potential buyers from the list and started one on one discussion with them
- First round of discussion has been completed and a smaller number of companies are being considered
- Round 2 of the discussion is expected to be completed soon
- Companies interested were both service providers as well as Strategic BPM consulting companies
- Although lot of bankers are involved in the process, commercials are not going to be the only criteria. Product future is also being considered as an important aspect in the merger
Dr. K feels (personally, not an official announcement from Progress) that the process should end before the end of the year. He is very positive that this move will bring lot of success to the Product.
He also added that although Progress laid down several employees, none of the people from Engineering team have been let go. They are actively working on the release of awaited Savvion Version 9.x due in November this year.