Symphony Technology Group Acquires Metreo; Acquisition of Leading Pricing Solutions Company Aligns With the Group’s Investments in Market Leading Analytics Solutions
PALO ALTO, Calif. — Symphony Technology Group (STG), a strategic software and services holding company led by Dr. Romesh Wadhwani, today announced that it has acquired the assets of Metreo, a leading provider of comprehensive pricing intelligence, optimization and execution solutions. Under the terms of the deal, Metreo will operate as a wholly-owned subsidiary of the Symphony Technology Group.
“Through the application of systematic analytics and discipline to pricing processes, Metreo delivers enormous value to strategic and forward thinking manufacturers and distributors,” said Dr. Romesh Wadhwani, chairman, Symphony Technology Group. “We have always been a believer in the power of predictive applications to help increase business performance. Metreo shares this vision and there isn’t a better company or team for us to build around.”
Achieving pricing excellence is very difficult and requires a special combination of experience, proven technology and commitment from both the solution provider and customer. STG is making this investment because Metreo has proven its ability to deliver pricing excellence to some of the largest companies in the world, while meeting their needs for operational efficiency and profitability.
“We believe Metreo’s technology, team and vision are on to something special,” said J.T. Treadwell, principal, Symphony Technology Group. “Symphony Technology Group will help Metreo raise the bar for pricing optimization and excellence. Its products will form the cornerstone of a full suite of pricing solutions that will continue to deliver the proven results that customers have come to expect from Metreo.”
“This is a terrific acquisition by STG and a great home for Metreo, our products, employees and customers,” said Daphne Carmeli, co-founder of Metreo. “STG has the financial strength to pursue our vision, a broad portfolio of companies that complement Metreo’s initiatives and they are true believers in the value that pricing solutions deliver. The team is excited by the combination – STG is committed to our products and they will be great partners for our customers.”
STG companies are well known for providing high value, high impact solutions that help customers dramatically improve their performance, productivity and profitability through best of class processes and management. STG companies include:
–GERS Retail Systems – a leading supplier of merchandising software solutions;
–Information Resources, Inc. (IRI) – an analytic solutions vendor that provides analytic solutions and services to more than 4,000 consumer packaged goods and retail companies worldwide;
–Intentia – one of the world’s largest ERP companies, which is currently merging with Lawson Software;
–SymphonyRPM – a provider of forward-looking performance management and predictive business analytics solutions; and
–Symphony Services – a global provider of collaborative, full lifecycle-outsourcing solutions for software product development and analytic processes.
Metreo is the leading provider of comprehensive pricing intelligence, optimization and execution solutions that demystify and add discipline to the entire pricing process, enabling manufacturers and distributors to drive more profit to the bottom line. Customers include industry leaders such as Eaton Corp., Grainger, Honeywell, Oncology Therapeutics Network and Owens Corning. Metreo is a wholly-owned subsidiary of the Symphony Technology Group, a $1.2 billion strategic holding company. More information is available at http://www.metreo.com.
About Symphony Technology Group
Symphony Technology Group (STG) is a strategic holding company that helps companies maximize operational efficiencies in the enterprise software and services market. With years of deep operational experience to draw upon, STG companies can leverage strong personal networks, vast financial and operational resources and a history of excellence to empower their clients’ success today and tomorrow. STG is actively engaged with each Group company, providing the strategic insight needed to achieve business performance and revenue growth through innovation. Headquartered in Palo Alto, CA, STG is a $1.2 billion strategic holding company that employs more than 7,000 employees worldwide across its companies. For more information, visit http://www.symphonytg.com.
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