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DETROIT, Jan. 8, 2014 (GLOBE NEWSWIRE) -- Compuware Corporation (Nasdaq:CPWR), the technology performance company, today announced that it has signed an agreement for Marlin Equity Partners to acquire Compuware's Changepoint, Professional Services and Uniface business units. The $160 million transaction (subject to certain adjustments set forth in the agreement) is expected to close in January.
"The action we announced today represents another step in the strategic transformation we embarked on just a few years ago," said Bob Paul, President and Chief Executive Officer, Compuware Corporation. "This development, combined with our cost-cutting initiatives, will accelerate the pace of the company's topline revenue growth and result in future profitability gains. Changepoint, Professional Services and Uniface are solid businesses and were important components of the company's evolution. This move will enable them, as independent operating units, to flourish. As for Compuware, we now turn our full operational focus toward extending our APM leadership position and strengthening our mainframe business by driving enhanced innovation into our world-class solutions that in turn deliver superior value to our customers.
"The opportunity in front of us is immense," continued Paul. "Technology runs the world, and our customers are poised to ensure the optimal performance of their technology. Companies must deliver rapid technology innovation while ensuring that their technology performs the way users, particularly customers, expect it to perform. Our new-generation approach to performance management delivers proactive solutions that are lighter, smarter and automated, providing customers with rapid return on investment and measurable value to the business. Today's action will allow us to intensify our focus and widen the sizeable competitive gap we already enjoy in this market, driving improved revenue growth while approaching best-in-class operating margins."
Marlin Equity Partners is a global investment firm with an extensive and successful track record in the technology industry. Compuware and Marlin Equity Partners will collaborate to ensure a smooth transition, so that customers enjoy uninterrupted service and continue to receive the full value of their investments in the affected solutions and services.