SilkRoad Technology to Expand HR Solutions with Acquisition of Human Asset Technologies

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Addition of performance management systems creates an integrated human capital management suite.

Winston-Salem, NC (PRWEB) October 21, 2005 -– SilkRoad technology, inc., the leading provider of human capital management (HCM) solutions, today announced it has completed the acquisition of privately held Human Asset Technologies, LLC, (http://www.humanasset.net) of Westborough, Mass. Human Asset, a provider of Employee Performance Management solutions, offers a suite of easy to use, flexible, and cost-effective applications for businesses of all sizes to manage, measure, and improve the quality, performance, and tenure of employees.

“We are extremely pleased to announce the acquisition of Human Asset Technologies,” said Flip Filipowski, CEO of SilkRoad technology. “HAT is the recognized leader in human asset development solutions and SilkRoad has the industry leading Intranet, Recruiting, Provisioning, and Performance Assessment solutions. Together we will be offering the single most comprehensive HR solution as a service suite composed of best-of-breed products that help companies to more effectively manage their human assets, drive work place performance and overall job satisfaction and retention. In many ways it is cradle through retirement – a comprehensive application enabling the support of employees throughout their careers; the end result is helping them achieve and maximize their quality of life.”

“Human Asset is strategic to SilkRoad’s growth and expansion in the human capital management arena,” said Brian Platz, EVP and GM of SilkRoad technology. “We continue to experience phenomenal growth and customer acquisition of our applicant tracking system, OpenHire. With our expanded portfolio of HR solutions, we are uniquely positioned to take advantage of a rapidly growing enterprise human capital management market.”

With the addition of Human Asset’s products and technology, SilkRoad can now offer its customers the most innovative and comprehensive suite of human capital management solutions in the industry that span a wide range of customer sizes and needs. SilkRoad’s strategic direction continues to focus on the delivery and integration of human capital management solutions that are delivered as software as a service (SAAS) and provide significant benefits and immediate value in the acquisition, management, and retention of talent in the work place.

“By taking the best of both the existing SilkRoad and Human Asset offerings and innovating to create a true integrated and seamless set of HCM solutions, customers can have additional confidence in effectively managing the work place and allowing executives, managers, and employees to have stronger communications and relationships,” said Allen Deary, CEO of Human Asset Technologies. “We thank our loyal customers for their unwavering support and they are in tremendous hands with SilkRoad. More resources will be applied to the growth of the Human Asset product line and the integration with SilkRoad’s OpenHire and the Eprise Web content management solution for managing Intranets will provide a human capital management suite that is the premier solution in the market.”

About SilkRoad technology

SilkRoad technology, inc. provides software as a service (SAAS) solutions that significantly improve the employee talent within its more than 500 customers across the globe. Through SilkRoad’s integrated human capital management (HCM) solutions, companies are able to hire better employees, identify high and low performers, drive a pay-for-performance culture, and improve employee tenure.

SilkRoad technology is headquartered in Winston-Salem, NC with offices in Bedford, MA; Chicago, IL; West Long Branch, NJ; Toronto, Canada; and Hamburg, Germany. More information is available by visiting http://www.silkroadtech.com or by calling in the U.S. toll free at 866.329.3363 or internationally at +1 336.201.5100.

This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company listed above.

Media Contact

Jaclyn Branch

SilkRoad technology, inc.

336-201-5100

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Jaclyn Branch