Corum Assists Concur Technologies With Strategic Divestiture

Apr 13, 2001, 01:00 ET from Corum Group

    BELLEVUE, Wash., April 13 /PRNewswire/ -- Corum Group announced today that
 its client, Concur Technologies, Inc. (Nasdaq:   CNQR), a leading provider of
 Corporate Expense Management solutions, has sold its Human Resources Products
 division to MBH Solutions, Incorporated.  MBH Solutions provides workforce
 management solutions to over 300 customers including BASF, Daimler-Chrysler,
 Sprint, and Goldman Sachs Solomon Smith Barney.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/19990519/SFW059 )
     "This divestiture presents a win-win opportunity for both Concur
 Technologies and MBH Solutions, allowing Concur to streamline its product
 offerings to focus more on Corporate Expense Management while the acquisition
 of the Human Resources Products division will position MBH Solutions as the
 leading provider of Human Resource Management Solutions," says Mark Reed,
 Corum Vice President.
 
     About Concur Technologies, Inc.:
     Founded in 1993 and headquartered in Redmond, Washington, Concur
 Technologies is a leading provider of automated expense management solutions
 to businesses of all sizes.  Concur's products are designed to increase
 efficiency and reduce costs. Products include travel and entertainment expense
 management, employee requests for vendor payments, and time tracking and
 reporting.  Concur's worldwide customer base includes an impressive
 625 companies and more than 1.6 million deployed users.
 
     About MBH Solutions, Inc.:
     Headquartered in Teaneck, New Jersey, MBH Solutions, Inc. has been
 delivering customized workforce management solutions to businesses of all
 sizes for the past nine years.  Leveraging their strategic alliances with
 organizations like ADP, KPMG, IBM, PricewaterhouseCoopers, Avert, and TeckChek
 helps MBH Solutions' provide a number of human resource applications to
 clients worldwide.  Applications include a web-based temporary staffing
 procurement solution, a utility that transfers payroll information into the
 General Ledger, expert HRMS system implementation, as well as a variety of
 services providing customization, training and implementation for clients.
 
     About Corum Group Ltd.:
     Corum Group Ltd. is the premier provider of M&A services to privately held
 and smaller public software, Internet and IT services companies.  Corum has
 completed over $4 Billion in transactions in 12 countries in its 16 year
 history and is the leading educator in the M&A field through its Selling Up
 Selling Out conferences.  Corum is built and staffed by highly experienced IT
 executives, most of them former CEOs.  They are supported by the best
 researchers and writers in the industry, and the world's largest database of
 buyers and sellers (over 70,000 contacts) that helps ensure unparalleled
 success in client engagements.
 
 

SOURCE Corum Group
    BELLEVUE, Wash., April 13 /PRNewswire/ -- Corum Group announced today that
 its client, Concur Technologies, Inc. (Nasdaq:   CNQR), a leading provider of
 Corporate Expense Management solutions, has sold its Human Resources Products
 division to MBH Solutions, Incorporated.  MBH Solutions provides workforce
 management solutions to over 300 customers including BASF, Daimler-Chrysler,
 Sprint, and Goldman Sachs Solomon Smith Barney.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/19990519/SFW059 )
     "This divestiture presents a win-win opportunity for both Concur
 Technologies and MBH Solutions, allowing Concur to streamline its product
 offerings to focus more on Corporate Expense Management while the acquisition
 of the Human Resources Products division will position MBH Solutions as the
 leading provider of Human Resource Management Solutions," says Mark Reed,
 Corum Vice President.
 
     About Concur Technologies, Inc.:
     Founded in 1993 and headquartered in Redmond, Washington, Concur
 Technologies is a leading provider of automated expense management solutions
 to businesses of all sizes.  Concur's products are designed to increase
 efficiency and reduce costs. Products include travel and entertainment expense
 management, employee requests for vendor payments, and time tracking and
 reporting.  Concur's worldwide customer base includes an impressive
 625 companies and more than 1.6 million deployed users.
 
     About MBH Solutions, Inc.:
     Headquartered in Teaneck, New Jersey, MBH Solutions, Inc. has been
 delivering customized workforce management solutions to businesses of all
 sizes for the past nine years.  Leveraging their strategic alliances with
 organizations like ADP, KPMG, IBM, PricewaterhouseCoopers, Avert, and TeckChek
 helps MBH Solutions' provide a number of human resource applications to
 clients worldwide.  Applications include a web-based temporary staffing
 procurement solution, a utility that transfers payroll information into the
 General Ledger, expert HRMS system implementation, as well as a variety of
 services providing customization, training and implementation for clients.
 
     About Corum Group Ltd.:
     Corum Group Ltd. is the premier provider of M&A services to privately held
 and smaller public software, Internet and IT services companies.  Corum has
 completed over $4 Billion in transactions in 12 countries in its 16 year
 history and is the leading educator in the M&A field through its Selling Up
 Selling Out conferences.  Corum is built and staffed by highly experienced IT
 executives, most of them former CEOs.  They are supported by the best
 researchers and writers in the industry, and the world's largest database of
 buyers and sellers (over 70,000 contacts) that helps ensure unparalleled
 success in client engagements.
 
 SOURCE  Corum Group