Acquisition of Peopleview, Inc.
OTTAWA--(BUSINESS WIRE)--March 8, 2004
Integrates ComplianceSight(TM) for real time corporate
Sarbanes-Oxley Compliance and SkillSight(TM) for real time employee
Workstream Inc., a leading provider of enterprise software and
workforce management solutions, today announced that it has acquired
the business operations of Peopleview, Inc., a leading developer of
Performance Management and corporate compliance software based in San
Juan Capistrano, CA.
The acquisition unites Workstream's enterprise software with
Peopleview's leading products for employee competency measurement and
corporate compliance management under a single hosted offering.
The combined offering provides for a highly configurable corporate
compliance and employee measurement solution that is designed for
senior executives to monitor employees and senior managers while
handling the complexity of corporate governance now required by large
enterprises. The product is available thru Workstream's hosted
solution for rapid deployment and ROI.
"Corporate governance and strengthening employee productivity are
two of the most requested objectives our customers communicated to us
for them to achieve. Customers are focused on employee productivity
and are realizing the benefit of workforce performance and planning.
To deliver increased shareholder value, companies must improve their
ability to successfully align corporate business goals, employee
performance, and balance corporate compliance and responsibility,"
states Michael Mullarkey, Chairman and CEO of Workstream.
Workstream's purchase of the Peopleview solutions marks its second
acquisition in the past 6 months, following the Company's purchase of
the operating assets of Perform. Inc in the second quarter of fiscal
year 2004. The Peopleview acquisition expands Workstream's workforce
management product line with comprehensive HR technology solution
enabling companies to:
-- Execute real time corporate Sarbanes-Oxley Compliance solution
across the enterprise;
-- Execute a consistent performance management process;
-- Modernize employee performance assessments and evaluations;
-- Administer accurate employee performance measurements to drive
To find out how Workstream's products can assist your company,
please call 1-866-470-WORK.
About Workstream Inc.
Workstream Inc. (NASDAQ: WSTM) is a leading provider of hosted
Human Resource (HR) enterprise software and professional services to
the Fortune 2000. Workstream's products streamline the attraction,
recruitment and retention of employees for corporations. Workstream
has been named to the Deloitte & Touche Fast 50 list of the fastest
growing software companies. Through its 12 offices and 170 dedicated
human resource professionals across North America, Workstream services
customers such as Eli Lilly, Nordstrom, Nike, Home Depot, Samsung,
KPMG and Sony Music. For more information visit
http:www.workstreaminc.com http://www.workstreaminc.com or call toll
This press release contains forward-looking statements within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. These statements are based on the
current expectations or beliefs of Workstream's management and are
subject to a number of factors and uncertainties that could cause
actual results to differ materially from those described in the
forward-looking statements. The following factors, among others, could
cause actual results to differ materially from those described in the
forward-looking statements: inability to grow our client base and
revenue because of the number of competitors and the variety of
sources of competition we face; client attrition; inability to offer
services that are superior and cost effective when compared to the
services being offered by our competitors; inability to further
identify, develop and achieve success for new products, services and
technologies; increased competition and its effect on pricing,
spending, third-party relationships and revenues; as well as the
inability to enter into successful strategic relationships and other
risks detailed from time to time in filings with the Securities and
Tammie Brown, 877-327-8483 ext. 263
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