LOVES PARK, IL – April 5, 2016— Cleo today announced the acquisition of EXTOL International, a U.S. company providing leading data transformation and software integration solutions. Terms of the transaction were not disclosed.
EXTOL, based in Pottsville, Pa., was founded in 1989 and delivers integration, automated any-to-any data transformation, and data workflow orchestration solutions to meet customers’ evolving business data integration requirements. With thousands of installations and nearly flawless customer retention, EXTOL has become a trusted name in customer-centric data integration solutions.
With the acquisition of EXTOL, Cleo extends its Cleo Integration Suite, a set of B2B, application, and data integration solutions that help businesses meet the most demanding enterprise integration production requirements. Loves Park, Il.-based Cleo has provided data communication and integration solutions to companies for decades, with more than 100,000 proven and tested installations worldwide. Prior to this acquisition, Cleo had already tripled its revenues and workforce over the past three years, due to the success of its expanding Cleo Integration Suite.
“We are thrilled to bring Cleo and EXTOL together to further enhance the Cleo Integration Suite, which uniquely provides highly scalable and secure B2B, application, and data integration solutions on a powerful single platform yet enables an exceptionally easy user experience,” said Mahesh Rajasekharan, Ph.D., chief executive officer of Cleo. “With the combined proven technologies and talents of these two great software organizations, Cleo is uniquely poised to not only deliver on customers’ current converging data movement and pervasive enterprise integration needs, but also effectively address the emerging requirements of cloud and big data integration.”
Over the past year, Cleo and EXTOL have partnered to prove the success of these combined solutions, and with today’s announcement, these advanced enterprise integration technologies are now being offered from one company in a way that makes it even easier and more efficient to consume the highly capable and scalable integration value to meet the production requirements of small, midsize, and large companies.
“It is so exciting to have found Cleo and to have built this great partnership with them over the past few years,” said Tony Baran, chief executive officer of EXTOL. “Now as we join forces, we’re reminded again of how similar our company cultures are with great professionals and can-do spirit, and how closely EXTOL and Cleo software technologies work together to bring even more value to our customers.”
“Bringing these two best-in-class offerings together into one comprehensive and scalable technology platform delivers immediate benefits to our great customers in the form of a seamless user experience, efficient deployments, and exceptional customer service,” said Sumit Garg, president of Cleo. “More importantly, the Cleo Integration Suite provides much greater long-term value for enterprises’ IT-led integration operations as well as business-user ‘citizen integration’ to enable business intelligence, analytics, and agility for a comprehensive set of enterprise integration use cases. This is an exciting development for the marketplace, and our joint customers already can attest to the elevated level of innovation and service stemming from this partnership.”
About EXTOL
Headquartered in Pottsville PA, EXTOL International Inc. provides fast and reliable business integration software and services that enable enterprises throughout the supply chain to connect with their customers and suppliers. EXTOL lets you say “yes” to more business by supporting a wide variety of integration requirements within a single solution – without needing customized coding or specialized skill set to manage.
About Cleo
Companies need to move data both within their enterprise and beyond. They want to view data insights and act earlier with informed decisions. Cleo makes it easy! With nearly 40 years of experience and more than 100,000 proven and tested installations worldwide, Cleo offers enterprise integration software solutions that are exceptionally easy to install and use. Cleo solutions handle the most comprehensive requirements of enterprise and multi-enterprise integration and include a library of more than 900 pre-configured secure connections to speed your implementation. Cleo has solutions for enterprise data integration, enterprise managed file transfer, secure file sharing, and big data gateway.
About Fairmount Partners
Fairmount Partners is one of the largest investment banking groups in the Mid-Atlantic region. The firm specializes in advising middle-market growth companies with mergers and acquisitions, capital raising and strategic advice. Fairmount offers deep expertise in the Healthcare Services and Technology, Information Technology Services, Technology and Software and Industrial and Consumer Products markets. Fairmount has completed more than 150 transactions throughout North and South America, Europe, Asia and Australia. For more information, please visit: http://www.fairmountpartners.com
Principals of Fairmount Partners acted as advisors to EXTOL in this transaction.
Contact:
Allen Born
Fairmount Partners is a registered Broker Dealer, member FINRA (www.finra.org) and SIPC (www.sipc.org).
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