Las Vegas - Recognizing the growing role of enterprise systems in assisting companies to meet the increasing challenges of corporate compliance and risk management, SAP AG is acquiring Virsa Systems Inc., a privately-held supplier of cross-enterprise compliance solutions. The announcement was made at Simplify, the 2006 Virsa Customer Conference, being held in Las Vegas.Founded in 1996, Virsa has more than 300 enterprise customers, many of which are global 1000 companies, across all major vertical market segments. SAP stated that the transaction with Virsa is continuing evidence of its strategy to use "fill-in" acquisitions to add to its broad solution offering by gaining specific technologies and capabilities that meet the needs of its customers, within industries or across industries, while maintaining its successful organic growth track record. Terms of the all-cash transaction were not disclosed.
"Across industry segments and global markets, organizations are under tremendous pressure to protect their brand and reputation while driving growth and shareholder value," said Shai Agassi, president of the product & technology group and executive board member, SAP AG. "Leading companies are looking to adopt an integrated view of governance, risk and compliance instead of the current reactive and fragmented approach. Acquiring Virsa extends the value of SAP applications and represents a key component of our strategy to be the primary source of enterprise risk management support, regardless of company size or industry segment. Virsa offers people, intellectual property and experience that will enhance the SAP customer experience and add immediate value for a strong cross-section of our customer base."
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