COMPANY PRESS RELEASE: EDS and Captura have announced an alliance agreement to jointly offer clients a comprehensive expense management solution that boosts employee productivity and reduces the cost of employee expense management.
Under terms of the alliance agreement, EDS will provide application hosting, systems integration, systems management and business process outsourcing services in support of Captura’s industry-leading expense management software. By combining Captura’s software with EDS services, clients can reduce the time and cost of managing employee business expenses with fewer dedicated resources.
In a separate agreement, Captura today announced EDS Ventures has provided investment funding to the growing company. The value of the investment was not disclosed. EDS’ investment brings to a total of $20 million raised thus far by Captura in its Series II round of funding.
Captura is excited to have EDS as an alliance partner, global hosting provider and investor, Captura CEO Dan Vetras said. EDS has provided mission-critical hosting and IT services to its clients for years. As an investor, EDS understands the strong value Captura brings to the expense management market and its potential for long-term success. This is an excellent fit that we expect to benefit both companies for a long time to come.
EDS provides hosting services for an estimated 6,500 clients worldwide, managing approximately 50,000 servers in more than 1 million square feet of raised floor space in 140 company-owned and client-owned data centers. Captura is in the process of migrating most of its hosted customers to EDS data centers.
Captura and EDS present a compelling combination for delivering a cost effective, reliable and scalable total expense management service to the largest and most complex companies throughout the world, said Bob Austrian, managing director, Banc of America Securities. This is a win-win-winfor Captura, for EDS and their customers. This is a significant technology alliance that will further application service provider acceptance by large enterprises.
Captura is an acknowledged leader in harnessing the power of the Internet to bring substantial expense management value to companies worldwide, said John Wilkerson, president of EDS Global Alliances and Indirect Market Strategies. Captura continues to build an impressive Global 2000 client base, and EDS is pleased to become an alliance partner and an investor in this exciting and growing company.