Acquisition of CYA by enChoice

enChoice, Inc. announced the acquisition of CYA Technologies of Shelton, CT.

Founded in 1993, enChoice is a premier software developer and services provider with a full range of product, implementation, and support capabilities across Automation & Security, eBusiness and Enterprise Content Management (ECM) systems. CYA has provided innovative granular recovery and replication solutions to ECM customers since 1998. The combination of the two organizations will create a company leveraging over 30 years of combined expertise to deliver best-of-breed solutions within the ECM market.

According to Gartner, worldwide ECM software license and maintenance revenue represented a $2.9 billion market in 2007, and total software revenue in the ECM market will grow at a compound annual rate of 12.2% through 2012. The acquisition enables enChoice to secure a larger portion of this expanding market by enabling it to service CYA’s base of over 250 customers and invest in the advancement of its product portfolio. It also allows enChoice to secure an even stronger foothold on the east coast of the United States, as well as expand its presence internationally.

Moreover, the acquisition further empowers enChoice to continue leading the way as a premier software developer and services provider, delivering holistic software solutions and services across a wide range of ECM customers, and specifically enhances enChoice’s ability to service and protect all aspects of customer data. These capabilities are increasingly important within the financial services, insurance, life sciences, chemical, oil and gas industries, which has created new organizations that support ECM solutions.

“The synergies between enChoice and CYA create a powerful organization that will benefit worldwide ECM customers by providing best-in-class applications, services, and support that protect their ECM investments,” said Tony White, CEO of enChoice. “CYA’s unique product portfolio is a perfect addition to our existing line of business continuity and support solutions, and will enable us to deliver enhanced value to our customers, as well as extend our reach to ECM users of all sizes across the globe.”

“This acquisition provides us with new opportunities to expand our portfolio of granular recovery and replication solutions across multiple ECM platforms,” said Wayne Crandall, President and CEO of CYA Technologies. “Each company’s culture, market successes and expertise will be fully leveraged to achieve accelerated growth and ensure a highly satisfied customer base.”

CYA employees will continue to be based in Shelton, CT. Wayne Crandall will continue to be responsible for all of CYA’s operations. The acquisition is expected to close in January 2009, and will be accretive to enChoice within the first quarter of 2009. Once the acquisition is complete, CYA will operate as a division of enChoice.