Solarsoft to Acquire Progressive Solutions Incorporated - Acquisition Will Strengthen ERP Vendor's Position in Key Vertical Markets

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• Publié par: solarsoft-business-systems
• Nombre de lectures: 14
• Langue: English

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Solarsoft to Acquire Progressive Solutions

Incorporated - Acquisition Will Strengthen ERP

Vendor's Position in Key Vertical Markets

PR Newswire

LONDON, June 1, 2012

LONDON

,

June 1, 2012

/PRNewswire/ --

Solarsoft Business Systems announced today that the shareholders and

management of Progressive Solutions Incorporated ('PSI') have agreed to

accept an offer from Solarsoft to acquire PSI.

PSI, which is privately held, provides specialist enterprise software for

producers, manufacturers and distributers in the lumber and building materials

supply chain. Since 1989, PSI has grown to become the leading supplier of

management systems to saw mills, lumber yards and suppliers of construction

materials in

North America

and the UK. With its proven expertise and class-

leading products, bisTrack and lumberTrack, PSI has established an outstanding

reputation for high quality service and customer satisfaction.

Commenting on the transaction, Shawn McMorran, chief executive of Solarsoft

Business Systems, said: "I am delighted to be able to make this announcement

because PSI is a great business and an excellent fit with Solarsoft. This

acquisition will add significant strength to our offering for distribution and

wholesale customers. Furthermore, it brings to Solarsoft a talented and

successful team with deep vertical market expertise and a commitment to

excellence in customer service. PSI's customers will benefit too from being

supported by a larger organisation with international operations. We see a

bright future together."

"We believe that the combination with Solarsoft will provide fresh momentum

to the ongoing development of PSI's products and services for the benefit of

customers, suppliers and employees" said Len Williams, president, CEO and

founder of PSI.

Andy Hovancik, chief operating officer at Solarsoft added: "Solarsoft has an

established position in distribution and wholesale systems in the UK and

Ireland

.

PSI's strength in

North America

and in the specialist needs of the lumber and

wood products sector are complementary to that. Bringing PSI's market-leading

applications into Solarsoft will allow us to accelerate our strategic expansion in

this sector. Together, we will continue to develop the outstanding reputation

that PSI has built for product innovation, expertise and customer service."

About Solarsoft Business Systems

Solarsoft provides modern enterprise software and IT services to

manufacturers, distributors and wholesale businesses in

North America

,

Europe

and

Asia

. The company has grown organically and through acquisition since

1986 and employs more than 450 people providing local support across 16 time

zones. More than 2,500 companies rely on Solarsoft to bring clarity and

efficiency to their daily operations. Worldwide revenues when combined with

PSI will be in the order of

US$100 million

. Solarsoft is backed by Marlin Equity

Partners, an independent investment firm with over

$1bn

of institutional assets

under management.

For more information about Solarsoft please visit http://www.solarsoft.com.