iWave Software Acquires Buildwave Technologies

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Acquisition to add state-of-the-art analysis capability to iWave Automator

By incorporating Buildwave technology into iWave Automator, we will be able to quickly provide our customers with a robust portal to monitor, manage, and analyze the health and availability of their iWave Automator implementations

iWave Software, the fastest growing provider of IT process integration and automation software, today announced the purchase of Buildwave Technologies, Inc. (http://www.buildwave.com) Buildwave provides software and technology to help enterprise IT organizations identify, track, monitor and analyze data contained in IT Service Management (ITSM) event logs. iWave plans to incorporate Buildwave’s technology into iWave Automator, its enterprise-class IT process integration and automation platform (run book automation).

“By incorporating Buildwave technology into iWave Automator, we will be able to quickly provide our customers with a robust portal to monitor, manage, and analyze the health and availability of their iWave Automator implementations,” said Brent Rhymes, President of iWave Software. Rhymes continued, “Buildwave’s technology will also give our customers visibility into the information flowing between their various ITSM applications as well as performance and status information on their IT process automation workflows.”

As part of the acquisition, former Buildwave President and CEO Dr. Gerard Ibarra will join iWave as Vice President of Product Marketing. Gerard will oversee the integration of Buildwave technology into the iWave Automator product suite as well as provide Product Marketing support for iWave Integrator, iWave Transport Manager and the iWave Adapters.

“I am excited about the opportunity to join the fastest growing IT process integration and automation software company,” said Gerard Ibarra. “We believe the patent-pending technology we developed at Buildwave will provide iWave Automator users with a best-of-breed solution for monitoring and analyzing the effectiveness of their IT automation workflows and integrations.”

“iWave expects to have the first release of iWave Automator containing Buildwave technology ready for release in the next 60-90 days. The technology will be marketed under the product name iWave Monitoring Server.”

“The acquisition of Buildwave is a strategic move for iWave,” said Rhymes. “We not only expect their technology to have an immediate impact on our iWave Automator product, but we also see it as a base to launch entirely new products in 2010 and beyond.”

About iWave Software

iWave Software provides software and services that help enterprise organizations automate the support of their IT infrastructure and critical business applications. For the past 16 years, Global 500 firms such as Raymond James, IGT, the European Patent Office and others, have leveraged iWave Software’s products to streamline their IT support while improving quality of service and lowering operating costs (http://www.iwavesoftware.com).

Headquartered in Frisco, Texas, iWave Software LLC is a privately-held subsidiary of the Hall Financial Group, a diversified financial firm with a focus in real estate lending, commercial development, public and private securities investing, oil and gas, and the vineyard and winery business (http://www.hallfinancial.com/content-core.asp).

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