Acquisition of pricing solutions firm aligns with group's investments in analytics solutions
Palo Alto, CA — February 1, 2006 — Symphony Technology Group (STG), a software and services holding company led by Dr. Romesh Wadhwani, today announced that it has acquired the assets of Metreo, a provider of pricing intelligence, optimization and execution solutions. Under the terms of the deal, Metreo will operate as a wholly-owned subsidiary of the Symphony Technology Group.
Through the application of systematic analytics and discipline to pricing processes, Metreo delivers value to strategic- and forward-thinking manufacturers and distributors, commented Dr. Romesh Wadhwani, chairman, Symphony Technology Group. We have always been a believer in the power of predictive applications to help increase business performance. Metreo shares this vision and there isn't a better company or team for us to build around.
STG said it is making the investment in Metreo because the company has proven its ability to deliver pricing excellence to some of the largest companies in the world, while meeting their needs for operational efficiency and profitability.
We believe Metreo's technology, team and vision are on to something special, stated J.T. Treadwell, principal, Symphony Technology Group. Symphony Technology Group will help Metreo raise the bar for pricing optimization and excellence. Its products will form the cornerstone of a full suite of pricing solutions that will continue to deliver the proven results that customers have come to expect from Metreo.
Daphne Carmeli, co-founder of Metreo, added that STG will be a good home for Metreo, its products, employees and customers. STG has the financial strength to pursue our vision, a broad portfolio of companies that complement Metreo's initiatives and they are true believers in the value that pricing solutions deliver. The team is excited by the combination — STG is committed to our products, and they will be great partners for our customers.
Some of the other STG companies include GERS Retail Systems, a supplier of merchandising software solutions; Information Resources Inc. (IRI), an analytic solutions vendor; enterprise resource planning firm Intentia; and SymphonyRPM, a provider of performance management and predictive business analytics solutions.
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