Diversinet says that the addition of DSS's services suite enhances Diversinet's ongoing strategy to provide greater depth and breadth in its product/service offering.
Posted Dec 19, 2002
Diversinet Corp., a Toronto-based provider of secured mobile solutions and services, announced this week it has acquired DSS Software Technologies for a combination of cash payments, earn-out positions, and warrants to be made and earned over a three-year period.
DSS, a systems-integration provider headquartered in Fremont, CA, provides CRM and ERP consulting services to financial, enterprise, and technology companies like Cisco Systems, Lucent Technologies, Oracle Corp., Sun Microsystems, and Wells Fargo. Founded in 1996, DSS has grown to annual revenue of $12 million and has been profitable each year of its operation.
Diversinet says that the addition of DSS's services suite enhances Diversinet's ongoing strategy to provide greater depth and breadth in its product/service offering. "Adding CRM is a great step for us, it adds more horsepower for us to be a complete service company," says Nick Darwish, vice president of sales and marketing at Diversinet.
Darwish also noted that the acquisition of DSS also gives Diversinet greater access to certain verticals like financial services and enterprise software vendors. Diversinet is now poised to create combined mobile services and CRM solution for new and existing customers, Darwish says.
According the Darwish, the combined companies are following a 90-day integration plan for a complete synergy of the companies. "Since we are both lean companies, we expect to retain the entire personnel of both Diversinet and DSS," Darwish says.