Condor Sells Safari Solutions to Allen Systems Group
ANNAPOLIS, Md., Dec. 28 /PRNewswire/ — Condor Technology Solutions, Inc. (OTC Bulletin Board: CNDR), the enterprise portal and e-commerce solutions provider, today announced the next step in the company’s strategy to focus on its core business of consulting and technical services. Condor officials stated that the company has retained the Boston-based investment bank of Mirus Securities Inc. (http://www.merger.com) to identify strategic buyers for the Safari Solutions Division (formerly Interactive Software Systems, Inc.). The Safari Solutions Division specializes in developing and marketing a suite of software solutions for enterprise business intelligence.
Condor will continue to provide business intelligence and decision support solutions to customers by offering needs assessment and product selection services. Kennard Hill, chairman and chief executive officer of Condor, said, “The divestiture of Safari Solutions will enable Condor to continue to be product-neutral and better serve the company’s customers by offering the solution which best suits the customer’s unique business challenges.” Mr. Hill went on to say that “together with the recent sales of Corporate Access and U.S. Communications, this move will complete Condor’s shift in business focus from product sales to IT solutions services.”
Evan Roth, general manager of the Safari Solutions Division, said, “Safari’s proven technology, which includes advanced heterogeneous systems connectivity and Web-based enterprise reporting and analysis, will be key to a new partner, along with a captive customer base of industry-leading companies. We look forward to gaining marketing and development synergies from the relationship.”
About Condor Technology Solutions, Inc.
Condor Technology Solutions, Inc., an enterprise portal and e-commerce solutions provider, uses its experience in delivering end-to-end enterprise resource planning, customer relationship management, supply chain management and decision support application solutions to build customized enterprise portals that deliver critical information to targeted users through Web-enabled applications. Condor’s 900+ employees in 24 cities provide Internet enabled IT solutions to Fortune 1000 firms, middle-market companies and government agencies. For more information, please visit the Condor Web site at www.condorweb.com.
About Safari Solutions
Safari Solutions (formerly Interactive Software Systems, Inc.) is a leading software developer of enterprise business intelligence solutions. Based in Denver with offices in San Jose, California and Utrecht, The Netherlands, Safari has a rapidly expanding base of over 2,000 customers world-wide, including high-caliber companies such as Del Monte, Citigroup, Nortel, Seagate, Boeing, Compaq and Picker International. The Safari enterprise suite of data processing tools enable remote information access and delivery, data management, OLAP and report writing. With an experienced international professional services and support team, the company provides customers with a complete end-to-end solution for enterprise-wide distribution of business intelligence. The company’s server-centric solution enables Web-based reporting from disparate applications, platforms and metadata sources across the enterprise.
About Mirus Securities
Mirus Securities (Member FINRA, SIPC) provides investment banking solutions to corporate clients in technology, business services, manufacturing, consumer products, health care and the resort & hospitality industry. Since 1987, Mirus has provided corporate finance advisory services on engagements including mergers, acquisitions, divestitures, recapitalizations and valuations. For additional information, visit www.merger.com.Back to Transactions