| Visiprise, HMS to Merge |
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| Written by Mike Buetow | |||
| Monday, 17 October 2005 07:07 | |||
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ATLANTA -- Visiprise Inc. and HMS Software Inc.
will merge operations, forming
a manufacturing software environment provider with more than 270 employees and more than
200 customers. The merged company will retain the Visiprise name and will be run by Visiprise CEO Sean McCloskey. The transaction is scheduled to close in November and includes $32 million of new financing led by Investor Growth Capital and Westbury Partners. McCloskey said, “Visiprise’s roots stem from the high-volume electronics industry. Manufacturers will be using our solutions to build everything from thousands of circuit boards to complex jet engines. In addition, the revenue and customer scale enhances our partnerships with SAP and UGS.” HMS Software president and cofounder Alex Houtzeel will join the Visiprise board of directors, and with Rob McNiff will jointly run the aerospace and defense business unit.
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