CDC Software, a provider of enterprise software applications and services, plans to form a joint venture with Softrax, a provider of billing and revenue management software, to expand its compliance offerings. The joint venture is expected to be operational in the third quarter of 2009.
According to CDC Software, the new joint venture is expected to expand its compliance offerings and industry penetration and also help Softrax with its geographic market expansion.
The companies expect to sell their respective products to each others customers’ base, potentially opening new markets for CDC Software – such as high tech, business services and other industries which have revenue compliance requirements. CDC Software is also expected to sell their billing and revenue management offerings globally.
Softrax is expected to help extend CDC Software’s compliance products by offering revenue recognition applications that facilitate compliance with Sarbanes-Oxley and other FASB regulations.
CDC Software already supports product compliance through the company’s Ross Enterprise services that support REACH, FDA, HACCP, Track and Trace, Good Manufacturing Practice (GMP), 21CFR Part 11 and other regulatory requirements specific to the Food and Beverage, Life Sciences and Chemical industries.
Bruce Cameron, president of CDC Software, said: “Our joint venture with Softrax is also expected to strengthen our already-comprehensive suite of CRM, ERP and compliance solution offerings, which we believe positions CDC Software strongly in markets with numerous financial regulatory requirements.”
