Buoy5 Acquires Clear Vision Group and establishes EMEA headquarters

Buoy5, Inc., a leading provider of business process improvement software for managing requisition and approval processes, today announced they have acquired Clear Vision Group a provider of business process management applications, implementation, consulting and support services.

Chapel Hill, NC & The Hague, Netherlands (PRWEB) October 15, 2003 -- October 13th, 2003 -- Buoy5, Inc., a leading provider of business process improvement software for managing requisition and approval processes, today announced they have acquired Clear Vision Group a provider of business process management applications, implementation, consulting and support services.

With the acquisition, Buoy5 extends its global presence by establishing its new European headquarters in The Hague, the Netherlands.

Under the terms of the agreement, Buoy5 has acquired Clear Vision Groups business activities and assets. Additionally, Buoy5 acquired the distribution channel of Clear Vision Group, and will manage the PartnerFlow resellers program Clear Vision has been building which will become the Buoy5 PartnerFlow Program.

"This is an acquisition that made a lot of sense for us and will support the growth of our business across EMEA" said David Willsey, Chief Executive Officer of Buoy5. "We remain committed to expanding our operation globally and this acquisition will allow us to leverage the strengths of both Buoy5 and Clear Vision Group. We are now able to extend our capabilities to current and prospective clients and partners by offering advanced sales and support from our European headquarters."

"Clear Vision and Buoy5 have a similar client service philosophy, and their specialty areas of focus are appealing to us from a strategic standpoint. It's an excellent fit" added Willsey.

The product knowledge and extensive networks that Clear Vision brings to Buoy5 is expected to increase the company's market position and awareness with unified communications throughout Europe the Middle East and Africa.

Commenting on the acquisition Collin Lewis CEO of Clear Vision Group, who joins the core management team of Buoy5, Inc. stated Buoy5 has a tremendous vision, expertise and market lead as a provider of innovative authorization management solutions for automating internal controls and business process compliance".

Lewis further added The opportunity to unify our companies will be of considerable benefit to our customers and partners by providing them with a unique spectrum of products which includes iApprove and Buoy5 Clarity"

About Buoy5

Launched in 2001, Chapel Hill, NC based Buoy5, Inc. is a premier enterprise software provider of next-generation request and approval management solutions. The company, which focuses on improving corporate productivity with web-based software and superior service, has created software that enables enterprises to realize cost savings by optimizing business processes. A few of Buoy5s customers include GlaxoSmithKline, National Commerce Financial, MidAmerican Energy Holdings and Cardinal Logistics Management. For more information visit www.buoy5.com or call: 800-965-9787.
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