SANTA CLARA, CA and MELBOURNE, AUSTRALIA–(Marketwire – Jun 30, 2011) – Effective July 1, 2011, Customer Systems International (CSI), an Australia based CRM company with locations in Melbourne, Sydney and Brisbane, have been acquired by Kovair Software, Inc. (Kovair), a Silicon Valley ALM (Application Lifecycle Management) and ITSM (IT Services Management) software company to form a new Australian entity, Kovair Pty Ltd which will leverage the strengths, products and workforces of the combined CSI and Kovair entities.
“This has been in the making for over 2 years and both CSI and Kovair have enjoyed a great partnership bringing ALM and ITSM to CSI’s Australian clients,” said Mr. Poh Cheung, COO of CSI, adding, “This seemed to be the natural next step for CSI and I’m glad we have come together to make this happen.”
“We have been watching the steady growth CSI has had in the Australian market, and now with the combined backing of our US and India operations, CSI and Kovair can grow from strength to strength,” said Bipin Shah, CEO and Chairman of Kovair Software, Inc. “I have also enjoyed the hospitality of the Victorian Government, and am pleased to contribute in some small way to the expansion of the bridge between our economies,” further announced Mr. Shah.
Kovair Pty Ltd, doing business as CSI in Australia, will now have a workforce in Australia, US and India. It is envisaged that CSI will continue to grow at a rate of over 15% over the next 2 years.
“We have had a number of investors and business partners approach us in the recent past but Kovair has stood head and shoulders above the rest with their unique offering in the ALM and ITSM space,” said Mr. Cheung. “A CRM company was a great fit given the integrations we presently provide within our ALM and ITSM solution suites,” added Mr. Shah. “This acquisition is the best outcome and guarantees further growth for CSI and Kovair,” declared a happy Dr. Richard Satur, MD of Kovair Pty Ltd, adding, “Our clients will benefit, the Australian economy will benefit and our current and future shareholders will benefit from this strategic acquisition.”
About Kovair: Founded and based in Silicon Valley, Kovair is an innovation leader in ALM & ITSM solutions and ESB based multi tools integrations space.