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Exhibit 99.1
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News Release
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Contact:
Stacy Hendricks Mark Lamb Gary Koeb
Public Relations Manager Director, Investor Relations Director of Marketing
Onyx Software Onyx Software RevenueLab
(425) 519-9253 (425) 519-4034 (312) 321-9476
[email protected] [email protected] [email protected]
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For Immediate Release
January 9, 2001
Onyx Software Acquires Innovative Sales and
Marketing Strategy Firm, RevenueLab
Adds Complementary Services and Tools to Enterprise CRM Platform
Bellevue, Wash. - Onyx Software Corp. (Nasdaq: ONXS) today announced the
acquisition of RevenueLab, a pioneer of proprietary go-to-market strategy and
revenue acceleration programs. RevenueLab provides the Onyx sales force and Onyx
partners with a new level of sales process expertise that strongly complements
existing Onyx technology and process consulting. Onyx expects that RevenueLab's
enterprise-level revenue acceleration programs and access to top executives will
further accelerate its penetration into the large enterprise customer
relationship management (CRM) market.
RevenueLab's founders have more than 120 years combined experience developing
best practices in sales and marketing strategy, process, training, skills
competency and management for blue-chip companies, including most recently EDS,
John Hancock, MFS Mutual Funds, Michelin, Microsoft, Perkin-Elmer and Wells
Fargo.
RevenueLab personnel joining the Onyx team represent a "who's who" within sales
and marketing strategy circles. RevenueLab CEO Kevin J. Corcoran, the former
senior vice president of sales and marketing at Learning International and co-
author of the best-selling business books, "High Performance Sales
Organizations: Creating Competitive Advantage in the Global Marketplace" and
"The Alligator Trap: How to Sell Without Being Turned into a Pair of Shoes", is
an industry leader in the sales performance arena. LaVon Koerner, former
president of Holden Corporation, is a go-to-market expert and a highly sought-
after speaker at sales performance and technology conferences around the world.
Kevin Hoffberg, former CEO of Inseon LLC, has created, designed and marketed
innovative sales performance concepts and processes for blue-chip firms in a
wide variety of industries including financial services and high technology.
"The success of all companies is judged by how quickly they can produce
profitable revenues," said Brent Frei, president and CEO of Onyx Software. "Too
often companies fall short of this aspiration due to a lack of focused execution
and flawed assumptions about how to best penetrate the market. Our world-class
software is but one component of an optimal revenue acceleration
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initiative that also requires an effective go-to-market strategy. RevenueLab's
thought leadership in this area will help Onyx and its partners to deliver an
integrated program designed for success."
Onyx intends to accelerate its penetration into blue-chip accounts by leveraging
RevenueLab's existing relationships and account access, leveraging internal
application of RevenueLab knowledge and techniques proven to create high-
performing sales organizations and strategic account management practices, and
creating a unique value proposition for its large consulting partners to create
an Onyx practice.
"We are linking our future to Onyx because we've seen the positive impact their
technology can have on companies seeking to build industry-leading go-to-market
strategies.," said Kevin Corcoran, president of RevenueLab. "Onyx has a leading
platform that enables large companies to rapidly transform their customer facing
activity. This technology, with our go-to-market expertise, will create a
compelling offering for customers and partners seeking to create sustained
competitive advantage through improved business strategy and execution."
Onyx Software will host a telephone and Web conference call to discuss the
acquisition of RevenueLab and introduce Kevin Corcoran, RevenueLab CEO, who has
been named Onyx Software Chief Marketing Officer (see related press release
today).
Conference Call Details:
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When: Tues., January 9, 2:00 p.m. Pacific time.
To participate in the conference call, dial (800) 289-0496. The call will be
replayed at the following number: (888) 203-1112. Confirmation Code: 426422
Link for web conference call participation:
http://investor.onyx.com/medialist.cfm
About Onyx Software
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Onyx Software Corp. (Nasdaq: ONXS) is a global supplier of enterprise-wide,
customer-centric e-business applications that connect and power a company's
entire e-business world, including customers, partners and sales, marketing and
service groups, making total customer and partner information available
enterprise-wide. Onyx's products are known for flexibility, reliability and ease
of use, resulting in high return on investment, low total cost of ownership and
industry-leading customer satisfaction. Onyx operates worldwide, with customers
including American Express, Broadwing, Commerce One, Credit Suisse, Dreyfus,
FirstWorld Communications, Portland Trail Blazers, Prudential Securities and
Sierra Health Services. For more information, call 888-275-6699, email
[email protected] or visit www.onyx.com.
Forward Looking Statement
This press release contains forward-looking statements. Forward-looking
statements are based on the opinions and estimates of management at the time the
statements are made and are subject to risks and uncertainties that could cause
actual results to differ materially from those anticipated in the forward-
looking statements. The words "believe," "expect," "intend," "anticipate,"
variations of such words, and similar expressions identify forward-looking
statements, but their absence does not mean that the statement is not forward-
looking. These statements are not guarantees of future performance and are
subject to risks, uncertainties and assumptions that are difficult to predict.
Factors that could affect Onyx's actual results include, but are not limited to,
the "Important Factors That May Affect Our Business, Our Results of Operations
and Our Stock Price" described in our quarterly report on form 10-Q for the
quarter ending September 30, 2000. Readers are cautioned not to place undue
reliance upon these forward-looking statements that speak only as to the date of
this release. Onyx undertakes no obligation to update publicly any forward-
looking statements to reflect new information, events or circumstances after the
date of this release or to reflect the occurrence of unanticipated events.
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