Adds ModernBill SMB Billing Software to Portfolio
RENTON, Wash., March 27, 2008 - Parallels today announced it has acquired ModernGigabyte, LLC, maker of ModernBill automated billing system and other hosting automation solutions. ModernBill customers will benefit from Parallels Open Platform initiatives such as the Application Packaging Standard (APS), which will help them drive more revenue from their existing clients.
The acquisition provides Parallels with a complete hosting control panel and billing system for small-to-medium-sized service providers and hosting resellers who purchase dedicated servers with pre-loaded software. Now, service providers can integrate with over 15 popular control panels supported by ModernBill as well as special bundled offerings with the Parallels Plesk Control Panel.
ModernGigabyte is based in Louisville, Kentucky and provides software to nearly 15,000 hosting resellers with over 2 million customers worldwide.
"Parallels' acquisition of ModernGigabyte gives service providers a competitive edge by providing a complete hosting solution that integrates back-office software with Parallels control panels," said Serguei Beloussov, CEO of Parallels. "The acquisition also opens up new sales channels for software vendors that develop applications based on the APS Standard, which will drive greater adoption of software-as-a-service or SaaS solutions."
"ModernGigabyte customers will benefit from Parallels industry-leading virtualization and automation solutions, depth of resources and support, and strategic focus on the hosting industry," said Jonathan McCarrick, vice president of sales, ModernGigabyte. "ModernBill is already integrated with multiple Parallels hosting products, so now customers will be able to purchase the software as part of a pre-integrated solution from one company."
Parallels will continue development of the ModernBill platform and will provide ongoing support for ModernGigabyte products through existing ModernBill support channels. In addition to the ModernBill software, Parallels is acquiring - and will continue to support - ModernGigabyte's other hosting solutions including ModernAuthorize, SSL Factory, ModernDNS and FraudGuardian.
ModernBill will be renamed Parallels Plesk Billing and join the Plesk Products system, which includes the Parallels Plesk Control Panel, Parallels Plesk Expand, Parallels Plesk Plus and Parallels Plesk Sitebuilder.
The acquisition builds Parallels' portfolio of automation software, which has grown in recent months through its acquisitions of Helm, Sphera, Positive Software and Ensim Pro.
Financial details of the transaction were not disclosed. Both companies are privately held.
Customers with specific inquiries can find more information at www.parallels.com/modernbill.
The Parallels Open Platform enables hosting with Parallels virtualization and automation technology through integration with a wide range of third-party applications and systems. The APS Standard, a key element of the platform, is used by independent software vendors (ISVs) and service providers to seamlessly integrate applications to offer to the more than 10 million businesses and individuals that use Parallels products.
About Parallels - Optimized Computing
Parallels (formerly SWsoft) is a worldwide leader in virtualization and automation software that optimizes computing for consumers, businesses, and service providers across all major hardware, operating systems, and virtualization platforms. Founded in 1999, Parallels is a fast-growing company with 900 employees in North America, Europe, and Asia. For more information, please visit www.parallels.com.