Under terms of the deal, Coda will pay a nominal sum for the tool but will take over development and marketing of the product, and existing customers will be offered support through Coda’s global support operation. Control Solutions will also resell Coda compliance software.
Nashua, New Hampshire-based Control Solutions and Coda will also jointly develop further software products to help customers comply with other regulations such as Basel II.
The process management tools to be offered by Coda, a subsidiary of Coda Scisys Plc, are designed to make regulated processes highly visible, repeatable, controllable, and auditable. Because many of the companies operate worldwide, the tools are to be broadened to aid compliance in multiple geographies.
