VC investors back Fresche’s acquisition of Quadrant
Application modernization and management solutions provider Fresche has acquired Quadrant LLC, a leader in application modernization, mobile development, business intelligence and document distribution solutions and services. The transaction, which closed on June 3, 2016, was supported by Fondaction CSN, Fonds de solidarité FTQ and Bank of Montreal.
Quadrant brings to Fresche proven solutions focused on helping companies maximize their investments in IBM i, Z/OS and Avaya platforms, operating under the market-leading brands Quadrant Software, BCD, NetLert, SoftBase and ExcelSystems.
With more than 150,000 clients worldwide, the IBM i platform (formerly AS/400, iSeries, System i) is considered a strategic ‘workhorse’ within the enterprise, and a high value component of IBM’s Power Systems business. However, organizations are struggling with maintaining and evolving their aging applications and face a shortage of skills due to a retiring workforce. By joining forces with Quadrant, Fresche addresses these urgent challenges with the broadest portfolio of IBM i solutions, services and expertise in the market.
“With a 100 percent focus on helping customers achieve their IT goals, our solutions enable customers to better understand, leverage and extend the value that resides within their IBM i applications and systems. We are thrilled to welcome all of the amazing and incredibly talented people joining us from The Quadrant Group who share the same commitment,” says Andy Kulakowski, President and CEO of Fresche.
“All of us at The Quadrant Group are pleased to join Fresche, a company as passionate about IBM i as we are,” says Stephen Woodard, CEO of Quadrant Software and Fresche’s newly appointed Chief Revenue Officer. “The significant resources and technologies at Fresche allow us to further invest in our customers, partners, employees, solutions and our future. Companies around the world with a strategic investment in IBM i can look ahead with confidence, safe in the knowledge they have a clear path forward with Fresche/Quadrant as their partner.”
The financial terms of the agreement are not disclosed.
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