Developing partner relationship management software (PRM) proved to be harder than Aqueduct Inc. originally thought,...
so the commerce and service software vendor figured if you can't beat 'em, join 'em.
Aqueduct announced today a merger with PRM provider ChannelWave Software Inc. Financial terms of the deal were not released.
Under the agreement, ChannelWave, Cambridge, Mass., and Aqueduct, Aliso Viejo, Calif., will combine to form ChannelWave Inc. Rob Hagen, CEO of Aqueduct, will serve as chief executive of the combined company, and Chris Heidelberger, ChannelWave's CEO, will be president.
The merger came as the result of an existing relationship between the two companies and because of demand from current customers for an offering that addresses demand management from channel ramp-up to post-sales support, Hagen said.
The two companies are combining their applications and will sell a single product that will facilitate information flow among manufacturers, dealers and distributors. The companies are 60 days into a 90-day integration effort, Hagen said. He added that ChannelWave will soon announce its first customer, a high-tech firm that's using the newly formed company's global channel management application.
A price list for the application has not yet been released.
Combined, Aqueduct and ChannelWave have 175 customers. The two firms have deployments in the high-tech, telecommunications, manufacturing and automotive industries.
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