Lone Rock Technology Group Acquires iGrafx

Lone Rock Technology Group Acquires iGrafx, a Leading Provider of Business Process Analysis Software, from Corel Corporation

AUSTIN, TX — September 12, 2011 — Lone Rock Technology Group, formerly known as the Limerock Group, LLC, a private investment firm focused on the business and enterprise software industries, today announced the acquisition of iGrafx from Corel Corporation. Lone Rock Technology Group partnered with the existing management team of iGrafx, including Ken Carraher, the original founder of the business, to complete the acquisition and establish the leading independent provider of Business Process Analysis software.

iGrafx, founded in 1991, is a leading provider of Business Process Analysis (“BPA”) software that enables the flexible design, implementation, and optimization of processes across an organization. iGrafx solutions enable organizations to model, improve, and manage processes and technologies that support, simplify, and automate their operations. iGrafx solutions have been deployed in over 10,000 organizations around the world, including over two-thirds of Fortune 100 companies, twenty-two of the world’s largest financial institutions, and several branches of the U.S. Department of Defense.

“With iGrafx we have acquired a global brand and set of solutions that are highly respected by business process architects and analysts,” said Joel Trammell, Managing Partner of Lone Rock Technology Group. “Together with the iGrafx team, we’ve identified several ways in which we can immediately begin to accelerate the growth of the business.”
The existing management team will continue to operate the business, and combined with Lone Rock Technology Group’s success in growing enterprise software companies, iGrafx will be well-positioned to enhance its leadership position in this market.

“Tools to analyze and improve processes continue to grow in importance, particularly for large enterprises looking to improve efficiencies and reduce costs,” said Ken Carraher, CEO of iGrafx. “We felt the time was right to spin out as an independent company to dedicate our entire focus to the unique needs of this market, and we are very happy to have teamed up with Lone Rock Technology Group to pursue the compelling opportunities in front of us.”
“This was a highly complex transaction which involved a carve-out of operating assets from various subsidiaries of a large corporation that were spread across the globe. That the transaction went so smoothly is a testament to the team and back-office capabilities we have built at Lone Rock Technology Group,” said John Eckman, Managing Partner of Lone Rock Technology Group. “We are organized to pursue unique and challenging transactions, and it’s exciting to see these capabilities in action.”

About Lone Rock Technology Group

Lone Rock Technology Group (www.lonerock.com) is an operationally oriented investment firm focused on the business and enterprise software industries. Lone Rock looks to acquire or take significant control positions in software companies that have an established market presence and proprietary technologies but can benefit from Lone Rock’s in-house back-office resources and proven success in establishing growth-oriented operational excellence. Of particular interest to Lone Rock are transactions involving corporate carve-outs of non-strategic software assets.

About iGrafx

iGrafx (www.igrafx.com) provides a comprehensive Business Process Analysis solution that helps organizations model, improve, and manage processes and technologies that support, simplify, and automate their operations. Whether aligning business objectives with IT systems, complying with industry regulations, automating business processes, or undertaking initiatives such as Six Sigma and Lean, iGrafx provides the ability to leverage results, improvements, and controls across these efforts, resulting in increased return on investment. iGrafx industry-leading solutions are used by thousands of organizations world-wide in their efforts to achieve process excellence.