WebsiteGear Logo Log In
New User? Sign Up
About | Contact | FAQ
  Home News Technology Software Products Wednesday, May 24, 2017 
Add Press Release News | News Feeds Feeds | Email This News Email


Syntax announces the acquisition of Core Services
Thursday, April 20, 2017

Syntax Now Offers Best in Class Cloud Based ERP Services for Both Oracle JD Edwards and Enterprise Business Suites Users Throughout North America

MONTREAL, April 20, 2017 /PRNewswire/ - Syntax Systems ("Syntax"), a leading provider of cloud managed ERP services, is pleased to announce the acquisition of Core Services Corporation ("Core Services"). Together, the combined entities will create one of the leading North American technology services firms offering best in class cloud managed services, application managed services and consulting services for Enterprise Resource Planning (''ERP'') applications employed by mid and large enterprises.

The acquisition was financed with equity provided by NOVACAP with participation from Private Advisors and Northleaf Capital, and members of the Syntax and Core Services management teams. Financial terms of the transaction were not disclosed.

The new combined entity will have employees in offices across the USA, Canada, India and Argentina. Syntax is headquartered in Montreal, Quebec and Core Services in Somerset, New Jersey.

"This transaction is an important milestone for Syntax's evolution as a world-class technology leader. What we find particularly attractive about Core Services is its innovation-driven business model, custom monitoring solutions, exceptional client base, and most of all, its team of talented and highly qualified professionals" said Syntax Co-CEO Ryan Etinson. "Syntax and Core Services share very similar cultures. Both companies have long histories of constant investment in their businesses and employees, and we can count on that pattern continuing. Core Services also boasts a great record for sales growth, operational excellence and high-quality customer service. It shares our vision of being the #1 ERP Cloud Provider", added Syntax Co-CEO Kenny Etinson.

Ted Mocarski, Chairman of Syntax and a Senior Partner at NOVACAP, added "This transaction represents an exciting next step in our plan to create the leading provider of cloud based ERP services throughout the world and we are confident both companies will capitalize on each organization's strengths."

Jim Bistis, founder and CEO of Core Services, commented "It gives me immense pride to see the team and customers of Core Services become part of the Syntax family, a company renowned for the quality of its products and services. I am confident that this union will bring value to both organizations. I am grateful to be able to hand over the reins of Core Services to such dedicated managers and to Syntax's great entrepreneurs and I wish them every success."

TM Capital served as Core Services' exclusive financial advisor in connection with this transaction, and TD Securities (USA) LLC served as exclusive financial advisor to Syntax. TD Securities (USA) LLC served as Administrative Agent and Joint Bookrunner and Joint Lead Arranger with National Bank of Canada for the senior secured credit facilities with participation from CapitalSource, a division of Pacific Western Bank and Webster Bank, N.A.

ABOUT SYNTAX

Since 1972, Syntax has been providing comprehensive technology solutions to businesses of all sizes throughout North America. Syntax delivers the best combination of software, infrastructure and cloud solutions to meet the needs of its diverse range of customers. Syntax partners include Oracle, IBM and other world-class technology leaders. Learn more about Syntax by visiting www.syntax.com

ABOUT NOVACAP

Founded in 1981, Novacap is a leading Canadian private equity firm with over $1.6 billion of assets under management. The Firm's unique investment approach, based on deep operational expertise and an active partnership with entrepreneurs, has helped accelerate growth and create long-term value for its numerous investee companies. With an experienced management team and substantial financial resources, Novacap is well positioned to continue building world-class companies. For more information, visit www.novacap.ca.

ABOUT CORE SERVICES CORPORATION

Profitable every year since its founding in 1990, Core Services Corporation, an Oracle Platinum Partner and OAUG Three Star Partner, delivers expert Oracle Applications implementation, development, and support to clients worldwide via its Cloud Managed Services and Consulting services. Additionally, Core Services is authorized to sell and service the Oracle Applications, leveraging Oracle's Business Accelerators. For more information about Core Services, visit www.coreservices.com.

SOURCE Syntax Systems



Email This News Email | Submit To Slashdot Slashdot | Submit To Digg.com Digg | Submit To del.icio.us Del.icio.us | News Feeds Feeds

RELATED NEWS ARTICLES
Nav IPS Group unveils PARK SMARTER(TM) Mobile Payment Application | May 24, 2017
Nav IBM Accelerates Open Database-as-a-Service on IBM Power Systems | May 24, 2017
Nav XaitPorter is the Preferred Collaboration Tool Producing License Applications | May 24, 2017
Nav DATUM Data Governance Platform Now Available on Carahsoft GSA Schedule | May 24, 2017
Nav Cloudera Launches Altus to Simplify Big Data Workloads in the Cloud | May 24, 2017
Nav Swift Shift partners with BAYADA Home Health Care to improve the employee experience | May 24, 2017
Nav Elastifile Named a 'Cool Vendor' by Gartner | May 24, 2017
Nav New Hive-IO Release Runs Citrix XenDesktop for Superior User Experience, Simplified Management, and Easier Implementation | May 24, 2017
Nav Validian Protects Against Latest Ransomware & Zero Day Vulnerability Attacks | May 24, 2017
Nav Resolve Systems, Leading Enterprise Security and IT Incident Response Platform, Announces Acquisition by Insight Venture Partners | May 24, 2017
NEWS SEARCH

FEATURED NEWS | POPULAR NEWS
Submit News | View More News View More News