TORONTO, April 2 /CNW/ - CMS Software, Inc of Toronto, Canada and XKO
Software Limited of the UK have agreed to merge, creating a new international
force in ERP software. Marlin Equity Partners of Los Angeles, California has
provided financial backing to the transaction.
The combined business will have sales of over US$50million and employ 300
professionals serving more than 1,400 customers from offices in Europe, North
America and Asia. The businesses will continue to trade as CMS and XKO pending
a review of operations.
Rudy Joss, who will chair the combined board states: "These are highly
complementary businesses. The combination adds strength to our product
development programs but there is minimal operational overlap so the merger is
positive for staff as well as customers."
Shawn McMorran, CEO of the enlarged business adds: "We see growing demand
for modern, open systems. Together, our .Net and web services products will
bring enterprise class performance to mid-sized organisations and we have the
skilled service professionals to back up the products. It's a winning
David McGovern, Managing Director at Marlin Equity Partners notes: "This
is a significant step forward for CMS and XKO. The merged business has scale,
market leading products and the local presence needed to deliver excellent
service. We will continue to invest in the combined business and support
future growth. We are actively looking to acquire businesses with
Financial details of the merger agreement were not disclosed.
Privately held CMS is a respected supplier of ERP systems to
manufacturers, distributors and wholesalers in the USA and Canada. Over 20
years, Toronto based CMS has built a reputation for superior software
engineering reflected in the standing of its iSeries ERP platform 'i5,' and
the newer 'm5,' built using the latest .Net technologies from Microsoft.
XKO Software Limited is the UK's leading supplier of mid-range ERP
systems to manufacturers, distributors and merchants. The company offers
systems tailored to the needs of specific vertical markets and has grown
organically and through acquisition since 1999. Over 1,000 firms in the UK and
Europe rely on XKO's products and services. Marlin Equity Partners acquired
the formerly AIM listed business in 2006.
About Marlin Equity Partners
Marlin Equity Partners is a Los Angeles, California-based private
investment firm focused on helping corporate parents and shareholders meet
their business development and liquidity needs. Marlin invests in businesses
where its capital base, industry relationships and network of experienced
managers can strengthen a company's outlook and enhance value. Marlin Equity
Partners has a track record of creating superior returns for its investors by
adhering to a disciplined investment approach aimed at building long-term
Source: XKO Software Limited & CMS Software, Inc
For further information:
For further information: CMS: Sandi Ingram on (905) 224-2222 for more
information; XKO: Angela Kennedy on +44-(0)1932-570590 for more information;
Marlin Equity Partners: Peter Spasov on (310) 364-0100 ext.106 for more