RWD Technologies, a maker of the SAP Productivity Pak and SAP Productivity Composer applications, completed the sale of its software products division and products platform to Court Square Capital Partners (Court Square), a private equity firm.
The companies said that with the acquisition of the RWD software products division, Court Square has created a standalone business called ANCILE Solutions. The new business will continue to develop and support the performance support software products formerly developed and supported by RWD. In addition, ANCILE will provide those services that directly support the platform, such as implementation, hosting and maintenance services.
The company said that the sale will have no material impact on current or planned operations for current and prospective clients of SAP Productivity Pak and SAP Productivity Composer. Maintenance and services agreements will remain in effect and unaltered.
"The sale of the RWD software products division is an essential step in the continued success and transformation of RWD Technologies," said Laurens MacLure, Jr., president and CEO of RWD Technologies. "By decoupling the service and products businesses, both RWD and ANCILE will be better positioned to flourish as the economy continues to recover. RWD will return to its roots as a consulting business focused on helping its clients maximise the performance of their people and assets through high-value services."
"With over 12 million end users around the world, RWD’s software products have matured to the point where it makes sense to separate the software products division to enable ANCILE Solutions’ singular focus on developing product solutions that support the performance and productivity of our customers," said Frank Lonergan, CEO of ANCILE Solutions. "The investment by Court Square allows us to innovate and introduce new technology solutions to meet additional needs in the market."
