Saturday, September 27, 2003

Cincom buys software firm

By John Byczkowski
The Cincinnati Enquirer

Cincom Systems Inc. has acquired the assets of Synchrony Communications, formerly one of the region's biggest high-tech startups, the company said Friday.

Terms were not disclosed. Shawn Reynolds, Cincom's group executive of customer interaction management systems, said a "handful" of Synchrony's employees would join Cincom immediately, and discussions are being held with others.

Synchrony, founded in 1997, makes customer-relationship management software, designed to help companies track contacts with their customers. At the height of the high-tech bubble, Synchrony had secured about $40 million in venture capital and had 150 employees.

The company was sold in 2001 to Divine Inc. of Chicago for $6.9 million, and Divine subsequently filed for Chapter 11 bankruptcy reorganization. Cincom bought Synchrony's assets out of Divine's bankruptcy.

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