Iconixx Software Corporation Acquires nGen Compensation

AUSTIN, Texas, March 19 /PRNewswire/ -- Iconixx Software, with financial backing from KBH Ventures, LLC, today announced that it has closed its acquisition of the total compensation software business unit formerly known as "nGen Comp" from nGenera. The transaction enables Iconixx Software to re-establish the Iconixx brand previously purchased by nGenera in 2008.

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"We expect this acquisition to create a substantial long-term strategic customer advantage, allowing Iconixx Software to focus specifically on expanding the capabilities and market footprint of the Compensation Management Software offering," said Derrik Deyhimi, Chairman and CEO of Iconixx Software. "Customers using Iconixx Total Compensation Software™ not only benefit from the millions of dollars spent on R&D and enhancements to date, but will experience an even greater level of value through the continued investments Iconixx Software is making in the product."

"I am very excited about the future of our compensation solution. With the new focus, capital and management team we are able to immediately execute on our plans for the product and company," added Jimmy Gonzales, Vice President of Research and Development at Iconixx Software. Iconixx Software has very aggressive goals and the team is immediately working on the growth of the business.

Iconixx has always been recognized as a leader in the compensation strategy, consulting and software integration market space. By the time it was acquired by nGenera in 2008 it had delivered more than 300 satisfied customer solutions, in human capital management, enterprise compensation management, and sales performance management, to many of the largest Fortune 500 companies.

"This is a fantastic day for current and future Iconixx Software customers and partners. In the coming weeks, we expect to announce a number of new clients that are putting their faith in our products and our new focus, as well as the longstanding knowledge base and successful reputation of the employees that are the heart of Iconixx Software," said Deyhimi.

Financial terms of the transaction were not disclosed.

About Iconixx Software®

Iconixx Software is a complete suite of targeted, integrated software tools that streamlines and unifies all aspects of Sales Compensation, Bonus and Salary Management. Our solution scales from small companies to those with multiple millions of transactions a day. Iconixx Software's analytic functions, especially the real time "what if" scenario ability, bring all sides of the compensation equation into clear focus. The result is a whole greater than the sum of its parts, a solution that benefits every executive, manager and salesperson in your business. Our SaaS offering is modular and fits our customers' needs as they grow. Iconixx software is the most technically advanced solution in the Sales Performance Management (SPM) market today.

About KBH Ventures, LLC

KBH Ventures is a private equity firm focused on the technology sector. The KBH team has worked together since 1997 and has raised over $200 million to fund technology companies. The team has also been actively involved in over a dozen successful transactions of technology companies. KBH leverages its technology industry expertise by targeting early-stage or turn around technology companies that service the business to business markets.

© 2010 Iconixx Software Corporation. All rights reserved. Iconixx Software, Iconixx Total Compensation Software and the Iconixx Software logo are registered trademarks, servicemarks, or registered trademarks of Iconixx Software Corporation in the United States and other countries. All other brand, service or product names are trademarks, registered trademarks of their respective companies or owners.

SOURCE Iconixx Software