GrapeCity today announced that it has executed an acquisition agreement with FarPoint Technologies, Inc., developer of world’s best selling and award-winning Excel-compatible spreadsheet software components for Microsoft’s development platform. Under the terms of the agreement, GrapeCity will be purchasing all FarPoint products and the resulting revenues.
The decision was taken based on a long standing relationship between the two companies since the very first time the FarPoint Spread VBX component was launched for Microsoft Visual Basic over a decade ago. Since that time, GrapeCity has exclusively localized, marketed, sold and supported FarPoint Spread in Japan making it one of their top selling component product in Japan.
GrapeCity is also the world’s largest component developer and seller by company size and revenues. So when the time came for FarPoint owners to carefully weigh their options aimed at growing worldwide even beyond the success it enjoys today, joining GrapeCity was a logical next step.
The FarPoint team, just like the Data Dynamics team last year will become part of GrapeCity and continue serving mutual customers. All FarPoint Product Managers, Sales and Marketing personnel and other FarPoint team members will continue the good work under the GrapeCity name starting October 1st, 2009.
This is great news for customers of both Data Dynamics and FarPoint as it brings together two technology pillars - "Reporting and Business Intelligence" and Excel compatible "Spreadsheet technologies" that form the underpinning of most data processing and data visualization needs of today's business users. Customers can look forward to seeing more synergies between the two product lines in the months to come even as both product lines will continue to grow in exciting ways.
To learn more, read the joint press release, and more coverage by SD Times and the Visual Studio Magazine.
