Chordiant

Chordiant

Type	Public (NASDAQ:CHRD)
Industry	Software
Founded	1997
Headquarters	Cupertino, California, U.S.
Key people	Steven Springsteel (CEO)
Products	Customer Experience Management, CRM, Decision Management
Revenue	US$97,536,000 (2006)[1]
Operating income	(US$15,850) (2006)[1]
Net income	(US$16,001) (2006)[1]
Employees	325 (September 30, 2006)[1]
Website	www.chordiant.com

Chordiant (formerly known as Chordiant Software and J. Frank Consulting) (NASDAQ:CHRD) was an American company. It offered enterprise software to help other companies improve the customer experience of their customers. Primarily their software is internet based / Java EE solutions, though some products run on Microsoft .NET Framework technologies. They are headquartered in Cupertino, California.

Chordiant provided BPM, CRM and Decision Management software which enables building applications that enhance customer interaction. Applications built using the Chordiant framework were widely used by large organisations in Europe and the USA. Primarily their customers were in the Banking, Insurance, Cable, and Telecom industries.

Chordiant originally started out as J Frank Consulting, a consulting company. In 1997 they transformed themselves into a software company rebranded as Chordiant Software. In February 2000 they went public. The company's stock hit an initial high point of $53 shortly after going public but soon crashed to the single digits months later as the software industry in general suffered a significant downturn.

Initially Chordiant's software was developed on Forte's 4GL platform. Seeing the promise of the emerging Java EE technologies, and feeling constrained by limitations of the Forte system, Chordiant moved all of their software to the Java / Java EE platform, becoming one of the first packaged enterprise software vendors to ship a completely Java EE-based product suite.

Chordiant has acquired a number of software companies including White Spider, Prime Response, the DialogServer product from Actionpoint, OnDemand, and KiQ.

Chordiant is a company that was adversely imapacted by Sarbanes / Oxley and was also subject to an options backdating investigation that has plagued many other software and mid sized companies.

Currently Chordiant's CEO is Steven Springsteel (who was formerly their CFO). Past CEOs include Steven Kelly, Sam Spadafora, and Carol Realini.

On 03/15/2010 Pegasystems, a business process management solutions company, announced it was acquiring Chordiant for a price of up to approximately $161.5 million.

External links

• Chordiant, official site
• [1] An article on bizjojournal describing Chordiants 8 million dollar options restatement
• [2] article on Chordiant's IPO
• [3] an article that talks about Chordiant's line of products
• [4] article discussing Chordiant's acquisition of Prime Response
• [5] press release discussing Chordiant's acquisition of the DialogServer product from Action Point
• [6] press release discussing Chordiant's acquisition of KiQ
• [7] A computerworld article describing Chordiant's technology platform
• [8] article regarding Chordiant's Sarbanes Oxley compliance
• Ultima, Chordiant Partner in Turkey

References

1. ^ ^{a b c d} "Form 10-K: Annual report 2006". secfilings.nasdaq.com. http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001042134%2D07%2D000009%2Etxt&FilePath=%5C2007%5C02%5C09%5C&CoName=CHORDIANT+SOFTWARE+INC&FormType=10%2DK&RcvdDate=2%2F9%2F2007&pdf=. Retrieved 2007-09-14.