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SugarCRM Acquires Stitch
Key Talent and Mobile Personal Assistant Technologies from Stitch Will Enhance Sugar, the Leading Enterprise CRM for the Individual CUPERTINO, Calif. – March 9, 2015 – SugarCRM Inc., the company that enables businesses to create extraordinary customer relationships with the most innovative and affordable CRM solution in the market, announced today it has acquired the intellectual property rights and other assets of Stitch, leading developer of personal assistant technologies that enhance productivity for mobile users. San Francisco-based Stitch has developed technologies that improve individual productivity by making personalized recommendations to users based on integrated analysis of data in email, calendar and customer relationship management (CRM) systems. Stitch replicates the functions of a real-life assistant by learning how people interact and making timely, relevant suggestions – through an intuitive mobile app -- that can improve customer experiences. Future releases of Sugar will be enhanced with Stitch capabilities, widening the application’s already impressive lead in mobile innovation. SugarCRM is also pleased to have strengthened its development team with top-notch mobile engineering talent from Stitch. Four Stitch engineers won the $250,000 grand prize for a mobile app entered in Salesforce.com’s hackathon competition last fall. “We’ve made Sugar an indispensable tool for customer-facing employees,” said Larry Augustin, SugarCRM CEO. “Sugar gives them the right information, when they need it, even before they ask. Incorporating Stitch will make Sugar an even smarter, better-informed customer relationship management system, and put information at mobile users’ fingertips no matter where they are.” “We’re very excited to be part of the SugarCRM family,” said Jason McDowall, co-founder and head of product at Stitch. “We’re proud of the work we’ve done, applying intelligence at the intersection of CRM, email and calendar data to make people more productive. We share the same vision as SugarCRM, and by combining our teams, we’re uniquely positioned to help shape the future of customer relationship management.” ABOUT SUGARCRM SugarCRM enables businesses to create extraordinary customer relationships with the most innovative and affordable customer relationship management (CRM) solution on the market. By placing the individual at the center of its solution, SugarCRM is putting the “i” in CRM and empowering people at all levels of an organization to better understand and engage with customers. Based in Silicon Valley, SugarCRM is backed by Goldman Sachs, Draper Fisher Jurvetson, NEA and Walden International. More than 1.5M individuals in over 120 countries rely on SugarCRM. To learn more visitSugarCRM.com or follow @SugarCRM. Cautionary Note Regarding Forward-Looking Statements This press release contains certain forward-looking statements regarding the transaction between Sugar and Stitch, including but not limited to statements regarding benefits of the proposed transaction, future products and services, expectations regarding market opportunities, size and growth, and general business outlook. Actual events or results may differ materially from those contained in these forward-looking statements. Among the important factors that could cause future events or results to vary from those addressed in the forward-looking statements include without limitation, risks and uncertainties arising from the difficulties with the integration process or the realization of the benefits of the transaction, unexpected costs associated with, or inability to complete, integration activities in a timely manner, the possibility that key Stitch personnel may not be retained by SugarCRM, and general economic and business conditions. All forward-looking statements made in this press release are based on information available to us as of the date thereof, and SugarCRM disclaims any obligation to update these forward-looking statements. NOTE: SugarCRM and the SugarCRM logo are service marks of SugarCRM Inc. Third-party trademarks mentioned are the property of their respective owners. MEDIA CONTACTS: Jay Fiore Becky Quinlan
SugarCRM
+1 (408) 913-2245
[email protected]
BOCA Communications
+1 (916) 508-8050
[email protected]
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