Contact for more information:
Valerie Brodie
Vice President
Worldwide Marketing
Computer Generated Solutions, Inc.
212-261-2074
vbrodie@cgsinc.com
COMPUTER GENERATED SOLUTIONS EXTENDS PRESENCE IN PROFESSIONAL
SERVICES INDUSTRY WITH ACQUISITION OF
MICROSOFT INDUSTRY-BUILDER PARTNER, FOLIODEV
Acquisition of FolioDev Expands CGS's Leadership in Delivering Industry-Specific
Application Solutions; Establishes Strategic Relationship to Develop Industry Solutions
for Microsoft Dynamics™ AX
MICROSOFT CONVERGENCE 2006 EMEA - Munich, Germany, November 6, 2006 - Computer Generated Solutions, Inc. (CGS), a leading provider of software, systems integration, eLearning, managed services and outsourcing to organizations worldwide, today announced that its wholly owned subsidiary CGS Redmond Technologies, LLC (CGSRT) has acquired the assets of privately held FolioDev, a development company with strong domain knowledge in the professional services sector. FolioDev, a member of Microsoft's Industry Builder Initiative (IBI) program, developed a professional services application built on the Microsoft Dynamics™ AX platform and designed specifically for professional services and project-based companies.
"FolioDev's business is perfectly aligned with CGS's strategy to extend its industry-specific application offerings combining FolioDev's deep domain knowledge in the professional services sector and CGS's success in supporting market leading vertical solutions," said Phil Friedman, President and CEO of CGS. "As a Microsoft Gold Partner, CGS has historically been a strategic partner and this acquisition allows CGS to expand its relationship with Microsoft as a partner providing professional services expertise, technology solutions, market leadership and an extensive global presence."
"We are excited to be joining the CGS family," says Agust Björnsson, Director of FolioDev. "Both organizations share a commitment to providing strategic value and comprehensive solutions that leverage Microsoft technology for global service organizations."
CGSRT and FolioDev plan to leverage their significant combined experience with Microsoft technology and industry-specific solutions to provide professional services organizations with more flexible enterprise integration, increased scalability and expanded capabilities. With Professional Services for Microsoft Dynamics AX, companies will be able to better manage project teams, increase employee productivity, improve service capabilities, and accelerate billings while controlling costs through tighter integration of client and project-related information.
"CGS's expertise in creating and supporting targeted industry-specific applications, combined with FolioDev's deep domain knowledge in the professional services sector, will provide a feature-rich application for Microsoft Dynamics," said Satya Nadella, Corporate Vice President, Microsoft Business Solutions Group. "CGS's award-winning implementation offerings and global customer support capabilities will help deliver maximum value and return for our professional service customers worldwide."
The professional services solution will be sold exclusively through Microsoft Dynamics AX certified partners who become solution certified partners as part of the strategic agreement between Microsoft and CGSRT.
Financial terms of the transaction were not disclosed.
For more information on CGS, visit www.cgsinc.com.
About CGS
Computer Generated Solutions, Inc. (CGS) is a leading provider of software, systems integration, eLearning, managed services and outsourcing to organizations worldwide. CGS offers a broad array of solutions and services including e-business consulting and application development, ERP, CRM and Shop Floor solutions, system integration, eLearning, help desk, and professional staffing. Established in 1984, CGS is headquartered in New York City and maintains a presence in locations around the globe with offices in United States, Canada, India and Romania.
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