Precise Software Solutions (Nasdaq: PRSE)
today announced that SAP America, the United States subsidiary of SAP AG, selected Precise to provide performance management solutions, including service level compliance monitoring, for customers using mySAP Hosted Solutions. Precise said the agreement would provide additional opportunities for the company to develop its relationship and technology solutions with SAP and its customers.
Precise CEO Shimon Alon said, “Optimal performance will help ensure the success of mySAP Hosted Solutions and generate more business opportunities for both our companies. Looking to the future, as Precise helps SAP customers achieve ROI more rapidly, we believe there will be additional opportunities to help SAP and its customers meet their performance management needs.”
Merrill Lynch said the deal gave Precise a good foothold into the large base of SAP customers and significantly diversified its channel strategy away from dependence on EMC (20-30% of current sales).
“This is a major win for Precise in its quest to monitor and manage the entire application infrastructure. In light of this good news and our confidence in Q2 results, we reiterate our Buy rating and price objective of $30.”, Merrill Lynch concluded.
Through mySAP Hosted Solutions, SAP delivers access to hosted mySAP.com solutions and technology across a network. SAP provides the application management, hardware, software, and infrastructure support services that can substantially simplify implementing, managing and scaling SAP solutions. According to Precise, mySAP Hosted Solutions allow companies to achieve their enterprise software goals without having to manage operational issues, thus allowing customers to focus time and resources on other strategic initiatives.
Precise Software Solutions develops application performance management solutions. Precise shares closed on Friday in New York at $24.02
Published by Israel's Business Arena on 16 July, 2001