FOR IMMEDIATE RELEASE
Corum Leads Acquisition of IDEAS International by Wellpoint Systems
Bellevue, Washington March 31, 2006 Corum Group is pleased to announce the acquisition of its client, IDEAS International, a leading provider of financial and operations management solutions to the global upstream oil and gas market, by WellPoint Systems, of Calgary, Alberta. This acquisition is an excellent strategic fit for two companies that have a great deal to offer each other. WellPoint has an established position in the North American oil and gas market. IDEAS is very strong overseas and has a great customer base of international oil and gas companies, including the majors. The resources of WellPoint and IDEAS are being combined at a great time because the global oil and gas market for IDEAS products is going through a period of significant growth, explains Mark Reed, Executive Vice President of Corum.
About IDEAS International
IDEAS International, Inc. is a multinational software company serving a worldwide client base from offices in the U.S. and overseas. IDEAS focus is the global upstream oil and gas market (exploration and production). IDEAS products are actively used in hundreds of client sites in more than 50 countries. This worldwide presence is testimony to the capability and functionality of IDEAS product line, and the commitment and service that IDEAS International delivers. Founded in 1982, IDEAS International has over two decades of experience providing software solutions and professional services to world-class companies around the world.
About WellPoint Systems Inc.
WellPoint Systems provides premier software and related services for managing critical operations within the energy industry. Aligning tightly with Microsoft Corporation, WellPoint is the only Independent Software Vendor (ISV) and Microsoft Dynamics partner in the energy sector. WellPoint is breaking new ground with the creation of a more comprehensive, integrated energy software suite based on existing Microsoft ERP technology that utilizes state-of-the-art Dynamics AX® and .NET architectures. WellPoint became a Microsoft Gold Certified Partner in 2005. Founded in 1997, Calgary based WellPoint Systems also has operations in Houston, Texas through its subsidiary company, WellPoint Systems, Inc. WellPoint is publicly traded on the TSX Venture Exchange under the symbol WPS.
About Corum
Corum Group Ltd. is the premier provider of M&A services to software and information technology companies worldwide. With ten offices globally, Corum has completed over $5 billion in transactions in 14 countries in its 20-year history, and publishes the industrys most widely distributed M&A research. Corum is built and staffed by highly experienced former CEOs, who are supported by the industrys leading researchers, writers and valuators. The company has spent more than $20 million to build the worlds largest database of software and IT companies (with over 70,000 contacts) to help ensure unparalleled success in client engagements. For more information visit www.corumgroup.com.
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