OpenPages Acquires SOX Software from PwC

Waltham, Mass. (April 16, 2004) -- Enterprise compliance management product maker OpenPages Inc. has acquired PricewaterhouseCoopers’ Sarbanes-Oxley compliance software, Internal Controls Workbench, along with a 375-user client base.   Under the terms of the agreement, OpenPages will assume support for PwC's ICW software through June 2005 for customers who contract with OpenPages. The company will also offer current ICW users special incentives and an automated data transfer from ICW to OpenPages' SOX Express software, a product designed to reduce costs associated with Section 302 and 404 compliance.   “ICW is great for getting people started with the documentation process, then you step up to our product [SOX Express], which is great at automating that process going forward,” an OpenPages spokesman said.   In addition, OpenPages has been accepted into PricewaterhouseCoopers' Vendor Alliance Program, which creates strategic alliances with companies that provide technologies or services to help clients achieve their business objectives.   "The sale of ICW is consistent with PricewaterhouseCoopers' focus on our core assurance, tax and advisory businesses," Lynn Edelson, PwC partner and chair of the firm’s Sarbanes-Oxley task force, said in a statement. "As a new member of our vendor alliance program, OpenPages and PwC will work closely to help with the technology that companies need to support their Sarbanes-Oxley requirements."   OpenPages claims SOX Express has more than 7,000 users across nearly 50 Global 5000 companies, including firms in financial services, medical, manufacturing, engineering, retail and high technology.   -- WebCPA staff