SAND Technology Announces sale of SAP ILM Product Line
MONTREAL, Oct. 5, 2011 /PRNewswire/ -- SAND Technology Inc. (OTCBB: SNDTF.OB), the provider of the world's most advanced columnar database today announced the sale of SAND's SAP Information Lifecycle Management (ILM) Product Line to Informatica for a consideration up to $8M USD.
"This divestiture ensures SAND's focus is firmly on Big Data and the rapidly-expanding Analytic Database market. SAND has worked in two discrete markets over the past 5 years diluting our specialization by trying to focus in two places at the same time. While both areas are in the red-hot Data Warehousing Market, SAND focused on delivering both the fastest Analytic Database Platform and a product focused on SAP Nearline in the ILM Market. We determined with the rapid expansion of Big Data we needed to focus all our resources on the Analytic Database Platform," said Mike Pilcher, SAND's President and Chief Operating Officer.
"Finally we have made significant progress in properly rationalizing the assets of SAND. Pure focus on the Analytic Database Platform allows us to better capture a rapidly growing business opportunity. In addition to significant mergers and acquisition activity there has been an unending amount of press and commentary on Big Data in the Analytic Database space. Adding analytic complexity to Big Data you arrive in SAND's sweet spot," stated Tom O'Donnell, SAND CEO.
About SAND Technology
SAND is the world's most advanced analytic database, managing massive amounts of big data, driving unparalleled performance, and deploying information to tens of thousands of concurrent users across the enterprise. With industry-leading software solutions for CRM and Loyalty, SAND delivers best-of-bread analytic performance to over 600 customers around the world. SAND Technology has offices in the United States, Canada, UK, Western Europe, and Australia. SAND can be reached online at www.sand.com.
SOURCE SAND Technology Inc.