SINGAPORE, 4 February 2009 – CrimsonLogic eTrade, a subsidiary of leading provider of eGovernment solutions and services, CrimsonLogic, announced today that it has acquired GridNode, a leading provider of business-to-business integration solutions and managed platforms. This is the first acquisition by CrimsonLogic since it was established in 1988. The acquisition expands CrimsonLogic eTrade’s presence in Malaysia with a sales office in Penang, targeting the manufacturing sector.

The GridNode acquisition is expected to strengthen CrimsonLogic eTrade’s capabilities in B2B integration and open up more opportunities in integration as a service and B2B project outsourcing. According to Gartner, the multienterprise/B2B infrastructure market is estimated to grow at a Compound Annual Growth Rate of 8.9% from 2007 to 2012. Integration as a service (IaaS) is the largest segment of the B2B infrastructure market, estimated to worth US$1.14 billion in 2007. In addition, B2B project outsourcing is estimated to grow at CAGR of 17.9% from 2007 to 2012.

Said Leong Peng Kiong, CEO, CrimsonLogic Pte Ltd, “We are pleased to kick off 2009 with a key acquisition to enhance our offerings in the B2B integration and outsourcing marketplace. In view of the current economic situation, this is the time for us to leverage on our strengths, develop new competency areas and seize market opportunities through organic growth and acquisitions where appropriate.”

GridNode’s solutions, GridTalk, GridLite and GridMaster, are based on industry standards including RosettaNet, AS/2 and Web Services. They complement CrimsonLogic eTrade’s existing portfolio to provide a complete suite of software and services for end-to-end electronic trade management solutions, facilitating businesses in their B2B and business-to-government (B2G) trade communication, coordination and collaboration, resulting in significant cost and time savings.

The combined product portfolio will expand CrimsonLogic eTrade’s market opportunity within the trading community, with the added abilities to offer an integrated out-of-the-box B2B gateway solution as well as catering to small businesses without IT infrastructure or support.

Said Loh Sin Yong, General Manager, CrimsonLogic eTrade, “We are excited about the addition of GridNode’s offerings into our portfolio, accelerating our next stage of growth. Today, we are well-positioned to capitalize on the strong demand for B2B infrastructure services including IaaS and B2B project outsourcing. As a one-stop B2B service provider, we can now cater to the varying needs of manufacturers and their suppliers, who are facing constant pressure to cut costs, especially in today’s economic climate.”

“One of the challenges for manufacturers is the ability to integrate all trading partners into the supply chain seamlessly and cost-effectively. With our combined product offerings, 20 years of domain experience and in-depth understanding of the manufacturing industry, CrimsonLogic eTrade can help our customers, whether with sophisticated IT infrastructures or small set-ups, to reduce costs out of the supply chain, shorten the implementation cycle, and bring on board new trading partners in a faster and easier way,” added Loh.

GridNode has about 200 customers around the world, including Global 500 companies and small-and-medium sized enterprises across manufacturing, logistics, semiconductors, automotive, customs and chemical/petroleum industries. Financial details of the transaction were not disclosed.

About CrimsonLogic eTrade Services Pte Ltd
Commencing operations on 1 January 2007, CrimsonLogic eTrade is a whollyowned subsidiary of CrimsonLogic. The company offers a comprehensive suite of electronic trade management solutions that includes Trade Declaration, Procurement, Freight Documentation, Trade Insurance and Trade Finance to its 3,000 customers around the world. CrimsonLogic eTrade also acts as a Value- Added Service Provider providing front-end linkages to TradeXchange® for end-users.

For more information:

Choo Kwee Siam
CrimsonLogic Pte Ltd
Tel: +65 6887 7173
Mobile: +65 94503110
Email: kweesiam@crimsonlogic.com

Khoo Yin/Sng Su Min
Text 100
Tel: +65 65572717
Email: khoo.yin@text100.com.sg / sumin.sng@text100.com.sg