Cartesis Group to Acquire INEA Corporation, Leading Provider of Enterprise Planning and Forecasting Software

Introduces A Unique Common Business Performance Management Infrastructure

Paris, FRANCE, June 14, 2005— Cartesis Group, a leading supplier of business performance management (BPM) software, announced today that it has signed a definitive agreement to acquire INEA Corporation. INEA is a provider of enterprise planning, forecasting and reporting software solutions that delivers rich, out-of-the-box functionality to meet the diverse and sophisticated requirements of global organizations. The deal accelerates Cartesis’ strategy to add enterprise planning and forecasting capabilities to its integrated Extended Suite of BPM applications, heralding the introduction of a unique common BPM infrastructure. The transaction is expected to close by the end of June.

Cartesis’ new solution will be known as Cartesis ES Planning, the second in a series of components which together form the new Cartesis Extended Suite for BPM. The Cartesis ES Planning application will provide a single platform for planning, forecasting and scenario analysis. This application will be integrated with Cartesis ES Magnitude and will leverage the same unified engine – the Integrated Data Model – that includes all critical variables for insightful decision-making.

“The acquisition of INEA broadens Cartesis’ portfolio and sustains our strong momentum in the BPM market,” said Didier Benchimol, CEO of Cartesis. “Planning and forecasting is central to BPM processes and the ability to accelerate the time-to-market with a comprehensive and global scale enterprise application represents a key deliverable in our business strategy. The combination of INEA’s comprehensive planning capabilities with the Cartesis Extended Suite creates a dynamic application that is unique in the BPM market.”

This deal is an important step in meeting the company’s goal of becoming the leading global BPM software vendor within the next two years. This objective is based on Cartesis’ commitment to deliver a common infrastructure that encompasses the three pillars of BPM: Financial Consolidation, Planning and Forecasting, and Information Delivery resulting in unified data, metadata and processes, improved productivity and reduced total cost of ownership.

“With its mature and proven planning and forecasting applications, INEA is an ideal match for Cartesis, which will also strengthen our growing presence in North America,” said Marc Schnabolk, President of Cartesis, Inc. “Our customers are increasingly looking for a fully integrated approach to BPM that will give them the capacity to handle modeling, financial consolidation of actuals, planning, forecasting and ‘what-if’ scenario analysis within one solution that guarantees a single version of the truth.”

INEA, a privately held company headquartered in Toronto, Canada, helps organizations easily transition from traditional budgeting systems to a more progressive planning and forecasting process facilitating business modeling, "what if" analysis, and access to more timely and accurate information. Its software has been architected to seamlessly integrate data from disparate sources into a central repository to allow self-service access to consistent and real-time business information for planning, forecasting and management reporting purposes.

“The synthesis of our shared vision, a highly complementary product portfolio, and unparalleled knowledge capital will create a potent force in the Performance Management market," said Mark Ruddock, President and co-founder of INEA. “Our customers will benefit tremendously as this deal will secure their investment in INEA as well as offer them the opportunity to integrate their existing planning and forecasting applications with the strongest financial consolidation and management reporting capabilities available.“

INEA’s office will remain in Toronto, Canada and will become the new center of excellence for planning and forecasting for the Cartesis group worldwide. Mark Ruddock will be named Senior Vice President and Chief Product Officer reporting to Didier Benchimol, CEO.

About Cartesis
Cartesis is a global software vendor that provides trusted solutions for driving your company’s financial and business performance. Cartesis equips its customers with the control and insight they need to assess and react in today’s rapidly changing marketplace. One in five Fortune Global 100 companies rely on Cartesis’ powerful technology to unify complex information, people and processes in a single data model that can be applied easily and consistently across multiple geographies and business segments. Cartesis’ customers success depends on having meaningful insight to act upon, because great performances start with confidence.

Headquartered in Paris, Cartesis has offices in Brussels, Frankfurt, London, Norwalk (CT), Tokyo and Utrecht. The company has more than 1300 corporate customers and partners worldwide in 25 countries around the globe.

Cartesis is privately owned by Apax Partners, Advent Venture Partners, CDP Capital Technologies and Partech International.

For more information, please visit www.cartesis.com.

About INEA Corporation
INEA Corporation provides enterprise planning, forecasting and reporting software solutions that meet the needs of the world’s largest and most complex organizations who have multiple lines of business; geographies; product lines and customer segments. Co-developed with a leading financial institution, the INEA platform provides rich out-of-the-box functionally to meet the unique requirements of finance departments across all verticals. With its singular focus and demonstrated expertise in this market, INEA helps finance departments streamline their planning process, create confidence in numbers, and engage in "what if" scenario modeling. Today, more than 7,000 users in 44 countries rely on the INEA platform. INEA customers are organizations with $1 billion to more than $650 billion in assets under management, including Mellon Financial Corporation, RBC Financial Group, Scotiabank, KeyBank, Harris Bank and Community America Credit Union.

For more information, please visit: www.ineacorp.com.

All cited names and/or trademarks are the property of their respective owners.

For more information, please visit www.cartesis.com or call:
Matthew Papertsian
+1 203-956-2800
mpapertsian@cartesis.com

Sharon Miller
+1 416 860 0887 ext. 286
sharon.miller@ineacorp.com

For further press information please contact:
Jessie Anderson
212-885-0662
jessie.anderson@hillandknowlton.com