Stellent Acquires Financial Compliance Solutions Leader e-Onehundred Group
 |  | http://www.contentmanager.net/magazine/news_h12162_stellent_acquires_financial_compliance.html |
Stellent, Inc., provider of content management solutions, announced it has acquired select assets of privately held e-Onehundred Group, a leading financial compliance solutions provider, for $5.0 million in cash, approximately 274,000 shares of Stellent common stock valued at $2.0 million and a potential $2.0 million cash earn-out over a one-year period based upon revenue performance. The transaction is not anticipated to have a material effect on Stellent’s revenues or expenses for the quarter ending June 30, 2005.
e-Onehundred provides products and consulting services for financial compliance applications. The company’s domain expertise and product set will enable Stellent to more quickly capitalize on the growing financial compliance market by efficiently building a portfolio of applications on top of its scalable compliance platform. e-Onehundred has been a strategic Stellent partner for approximately two years, and its technology is a key component of the Stellent® Sarbanes-Oxley Solution.
"Based on Forrester’s research1, fewer than 800 companies invested in the leading SOX compliance solutions prior to this initial compliance cycle,” stated Paul Hamerman, vice president for Forrester Research. "Sarbanes-Oxley ranks as one of the top three IT spending priorities for 2005 as many companies recognize the need to make Section 404 compliance repeatable and sustainable to reduce compliance costs and their reliance on external service providers.”
According to Gartner2, "Through 2005, Sarbanes-Oxley solutions based on process management or document management platforms will be more successful than those from any other vendor category; companies that choose one-off solutions to each regulatory challenge they face will spend 10 times more on compliance projects than their counterparts that take a proactive approach; and by 2006, public companies that do not adopt a compliance management architecture will spend 50 percent more annually to achieve Sarbanes-Oxley compliance.”
The Stellent Sarbanes-Oxley Solution features an industry leading content and records management foundation provided by the Stellent Universal Content Management™ system in combination with a robust, second-generation Sarbanes-Oxley application. The result: companies can easily turn Sarbanes-Oxley projects into ongoing business processes, and deploy new financial compliance and risk management applications quickly from a common enterprise content management architecture.
"Financial compliance and risk management is one of our top growth markets due to the thousands of companies that are automating these processes,” said Robert Olson, president and chief executive officer for Stellent. "We already brought to market a successful financial compliance application - the Stellent Sarbanes-Oxley Solution - which was developed in close partnership with e-Onehundred and Protiviti, another key compliance partner. We are confident the domain expertise and supplemental resources gained from the acquisition of e-Onehundred will accelerate Stellent’s momentum not only in the Sarbanes-Oxley market, but in the larger financial compliance and enterprise risk management arenas as well, by enabling us to build out additional financial compliance application services based upon our robust Stellent Universal Content Management platform more quickly.”
Conference Call and Webcast
Stellent will host a conference call and Webcast at 10:30 a.m. Central Time on Tuesday, June 21, 2005, to discuss this acquisition. Callers in the United States can dial 1-877-282-0523, and international callers can dial 1-303-542-7976. Access to the live Webcast will be available via the investor relations area of Stellent’s Web site (www.stellent.com) on the day of the event. Investors unable to participate in the live conference call and Webcast may access a replay of the event via the investor relations area of Stellent’s Web site.
Stellent Sarbanes-Oxley Solution Features
Stellent provides content management-based solutions to help companies streamline processes related to complying with a variety of government regulations, such as the Patriot Act, International Financial Reporting Standards (IFRS) and the Sarbanes-Oxley Act. The Stellent Sarbanes-Oxley Solution allows companies to efficiently manage and approve content related to financial and non-financial disclosures as well as documentation associated with an organization’s Section 404 compliance process. The solution is based on the award-winning Stellent Universal Content Management system, which offers a full array of enterprise content management functionality, including document management and imaging, Web content management, digital asset management, collaboration, and records management.
For more information about the Stellent Sarbanes-Oxley Solution, call 1-800-989-8774 or visit www.stellent.com/sarbox.
21.06.2005, Stellent GmbH
