Seapine Software Offers ALM Tool Financing Through Summit Funding Group

Business Wire, April 09, 2009

New Funding Option Helps Companies Balance Investment in Application Lifecycle Management Software with Rate of Return

CINCINNATI -- Seapine Software, a leading provider of quality-centric application lifecycle management (ALM) solutions, today announced it has partnered with Summit Funding Group to provide alternative financing options for Seapine’s software, making it easier for companies to afford ALM software in the current economy.

“Improving application development efficiency, a primary driver of an ALM investment, is an important factor in lowering costs,” said Richard Riccetti, president and CEO, Seapine Software. “We’ve partnered with Summit Funding so more companies can invest in our ALM tools and realize their benefits, while minimally impacting their cash flow.”

Available now through Seapine’s sales force, companies in the United States can select from a variety of funding options to tailor the financing to their needs. Companies can add additional years of software maintenance and services to the initial financing, ensuring uninterrupted technical support and upgrades for the life of their lease. Summit and Seapine have streamlined the financial review process and Summit has resources dedicated to guarantee a quick turn around on financing requests.

“Summit is honored to be selected as the preferred finance partner for Seapine Software,” said Dan Hathcoat, vice president, sales for Summit Funding Group. “We look forward to working with Seapine and their customers to deliver a full suite of convenient, affordable financial solutions to accelerate the ROI in Seapine Software solutions.”

About Summit Funding Group

Summit Funding Group is a national equipment lessor dedicated to helping its customers be more successful in sustaining and growing their businesses. Headquartered in Cincinnati, Ohio with offices around the United States, Summit offers highly competitive financing and leasing solutions for a wide variety of capital assets. With the resources, experience and financial strength to help companies increase their sales and overall profitability, Summit has funded over $1 billion in leases since their inception in 1983.

About Seapine Software

With over 8,500 customers worldwide, Seapine Software, Inc. is the leading provider of quality-centric application lifecycle management solutions. Headquartered in Cincinnati, Ohio, with offices in Europe and Asia-Pacific, Seapine’s development tools help organizations of all sizes streamline communication, improve traceability, achieve compliance, and deliver quality products. Seapine's products support best practices, integrate into all popular development environments, and run on Microsoft Windows®, Apple Macintosh®, Linux®, and Sun Solaris® platforms.