Progress Software Acquires California's Business Rules Leader Corticon

Progress Software (News - Alert) Corporation, a leading provider of diverse range of enterprise software solutions, recently completed all formalities relating to the acquisition of Corticon (News - Alert) Technologies, Inc., a California based provider of Business Rules Management System (BRMS) solutions.

According to press release, many of the world’s largest financial services, insurance, and eCommerce companies rely on Corticon’s BRMS services and related products to automate business rules.

The company’s patented “no-coding” rules engine helps automate sophisticated decision processes, and empower organizations to increase efficiencies, operate more responsively and reduce rule development and change cycles by 90 percent.

Corticon’s model-driven approach also makes rules accessible to business domain experts and allow them maintain them directly. This makes rules easier to adapt to changing market conditions.

Dr. Mark Allen, founder and former chief executive officer of Corticon, who will be a member of the office of Progress’ CTO post-acquisition claimed that the Corticon Business Rules system is a perfect complement to the Progress RPM suite. But often, rules systems are not enough to address the changing business scenario. This, according to Allen necessitates the convergence of different technology areas.

The acquisition will allow Progress to integrate Corticon products into the Progress RPM suite, which combines Business Process Management (BPM), Complex Event Processing (CEP), Business Transaction Assurance (BTA), and Business Analytics through the Progress Control Tower) product.

The integrated Progress Corticon BRMS offering is aimed at enhancing business decision making for all enterprises.

“Within modern responsive businesses, the need to make informed and accurate decisions ‘in the moment’ is critical. High quality real-time decisions are key to avoid fraudulent transactions, to comply with complex and evolving regulations and to generally make the right decision for the business at the right time. The acquisition of Corticon reinforces Progress’ commitment to deliver operational responsiveness by helping customers build highly agile, responsive business systems with models and tools that maximize simplicity and accelerate time-to-value,” chief technology officer of Progress Software Dr. John Bates commented in a statement.

Recently, Progress Software announced the appointment of software technology executive Jay Bhatt as its president and chief executive officer, effective December 5, 2011. Bhatt will also be elected to the Progress Software Board of Directors, the company informed in an earlier press release.