CDC Software Agrees to Invest and Form Strategic Relationship in Marketbright,
a Cloud-Based SaaS Marketing Automation Company
SHANGHAI, ATLANTA, April 13, 2010 — CDC Software Corporation (NASDAQ: CDCS), a global provider of enterprise software applications and services, today announced it has agreed to make a strategic investment in Marketbright, an on-demand software-as-as-service (SaaS) marketing automation company. In addition, CDC Software has agreed to develop a strategic relationship with Marketbright whereby both companies are expected to resell each other’s solutions and potentially expand the relationship into other strategic activities. The strategic investment in, and the formation of the strategic relationship with, Marketbright, are subject to legal review and the negotiation and execution of definitive documentation.
This partnership and investment further expands CDC Software’s rapidly growing cloud-based SaaS product portfolio and further advances its strategy to significantly increase recurring revenue over the next few years.
Marketbright provides a suite of integrated applications including campaign management, email marketing, event management, social networking, landing page creation, lead scoring, lead nurturing and membership management. The company’s investors include Greycroft Partners and Knight’s Bridge Capital Partners, among others.
As part of the strategic relationship, CDC Software is expected to serve as an original equipment manufacturer (OEM), reseller or referral partner for Marketbright’s SaaS marketing automation solutions in the U.S., Canada, EMEA, Asia/Pacific and the rest of world. In turn, Marketbright is expected to serve as an original equipment manufacturer (OEM), reseller or referral partner for CDC Pivotal CRM solutions in the U.S. and Canada. In addition, Marketbright plans to develop an integration tool for CDC Pivotal.
CDC Software and Marketbright may also expand their relationship such that Marketbright may eventually serve as an OEM and reseller for CDC Respond, a complaint management system, CDC eCommerce, an on-demand e-Commerce platform for retailers and brand manufacturers, and CDC gomembers, SaaS enterprise solutions for not-for-profit, while CDC Software will sell the Marketbright connector tool for CDC Pivotal CRM implementations.
Marketbright also is reviewing shared services with CDC Software that may include managed hosting services, customer and technical support and with CDC Global Services’ research and development and professional services operations. CDC Global Services is a business unit of CDC Software’s parent company, CDC Corporation.
“We are excited to partner with CDC Software since we believe that our products not only offer great synergies, but we can also leverage CDC Software’s extensive global technology and support infrastructure, especially their high performance offshore operations, that offer compelling economies of scale,” said Dom Lindars, CEO of Marketbright. “We expect that CDC Software’s investment in us will provide us with the opportunity to strengthen our growth, while this partnership can offer our customers complementary solutions to further add value to their businesses.”
“We believe this can be a very synergistic partnership that not only helps CDC Software expand its SaaS product line, but also potentially increase its recurring revenue,” said Jason Rushforth, senior vice president, North American CRM Sales, of CDC Software. “Marketbright’s SaaS marketing automation technology can help to further strengthen our Front Office solutions product line, and is yet another strategic move, along with our other recent SaaS acquisitions, toward reaching our goal of maintenance and revenue making up 70 percent of our total revenue in the next few years.“
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