Baan

From Academic Kids

Baan is a vendor of popular ERP software.

The Baan Corporation was created by Jan Baan in 1978 to provide financial and administrative consulting services. With the development of his first software package, Jan Baan entered what was to become the ERP industry. A few years later his brother, Paul, joined what was to become the largest software family firm in Dutch history.

The Baan company focused on the creation of enterprise resource planning (ERP) software.

In June 2000, facing worsening financial difficulties, reporting seven consecutive quarterly losses and bleak prospects, Baan was sold to Invensys, a UK automation, controls and process solutions group to create its new Software and Services Division.

In June 2003 poor market performance of BaanERP (Baan V) and delays in introducing the new Baan version (code named Gemini) led Invensys to sell Baan in 2003 to SSA Global Technologies for a cash consideration of $135m. The sale of Baan was consistent with Invensys' stated objectives to divest non-core assets as part of its overall plan to improve capital strength and increase strategic focus.

Upon acquiring the Baan software SSA Global ceased to promote the Baan brand, instead referring to it as SSA Baan. In August 2004, after a delaying the release of Gemini to allow for improvements SSA Global released SSA ERP LN 6.1.

In September 2004, Jan Baan has launched a new Web services company Cordys. Cordys' core architecture is a business collaboration platform - built on XML and open standards - for creating enterprise-class composite application frameworks.

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