Software company makes new acquisition

The acquisition of Secorex nearly doubles the size of Autoweb's business.

Autoweb has acquired Secorex, a consortium of four European software providers for the electronic exchange of technical and commercial business data.

Secorex provides electronic data interchange (EDI), data management and process control solutions.

Through the acquisition of Secorex, Autoweb significantly increases its presence in Europe and it becomes the only organisation that can provide a single global data management and interoperability solution that connects all global industry communication protocols and standards.

As a result of this acquisition, Autoweb's business has nearly doubled in size.

"The acquisition positions Autoweb to become the global leader in software-based data management and system interoperability solutions using a multi-protocol approach", said Nino DiCosmo, President and CEO of Autoweb.

"This strategic initiative not only increases our market presence in Europe, but also opens up significant opportunities for growth and expansion in Asia in both data management and measurement technology solutions".

"I am thrilled to partner with the existing European leadership team and employee base to build the global business", DiCosmo noted.

"Companies are continuously looking for simple, low-cost solutions to facilitate communications between multiple proprietary and complex product-life-cycle management (PLM) platforms currently used by OEMs", said Muhammad Khan, Autoweb Vice President, Software and Delivery.

"By leveraging the core competencies of Secorex, Autoweb is uniquely positioned to deliver data-management and interoperability solutions that include all of the industry communication protocols in use throughout the world".

"Combining these companies will not only increase our product base, but it will enable us to offer our customers and partners more added value in addressing their data management and interoperability needs", said Udo Schork, Managing Director, OCS .

"In addition to technical data management, Secorex is strong in the field of commercial data management, providing our clients the ability to use one partner for their technical and commercial data management needs".

"We are excited by the growth potential that will result from the union of these companies", said Stephen Koons, Autoweb Vice President, Corporate Development.

"The Secorex acquisition will drive Autoweb's growth initiatives, not only in the critical German market, but also in the rest of Europe and globally".

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