eiStream Acquires Identitech BPM Product Suite

Feb 24, 2004

eiStream Inc, a provider of enterprise content process management solutions, has announced the acquisition of Identitech's Business Process Management (BPM) systems business. Under the terms of an agreement between eiStream and Identitech, Inc., a Melbourne, Florida-based BPM company, eiStream will acquire all of Identitech's BPM software product suite, professional services, and the technical support of all Identitech BPM customers. Products included in the transaction focus on workflow, content management, electronic forms, records management, image capture, and report management. eiStream will retain a majority of Identitech's staff including development, support, professional services and sales personnel, as well as the Identitech facility in Melbourne. Identitech, Inc. will be reorganized and renamed as a result of this acquisition and will announce the new corporation in the first quarter of 2004.

In a separate product licensing transaction, eiStream has also agreed to become a reseller of FYI Visual, a Business Activity and Business Process Monitoring technology. The FYI Visual product will be retained by the Identitech founders and will become the centerpiece of a newly branded corporate entity to be announced later in the first quarter of 2004.