Fonds de solidarité FTQ invests US$10M to enable Fresche acquisition of Quadrant Software
To support Fresche’s acquisition of Boston-based Quadrant Software, the Fonds de solidarité FTQ and the Fonds régionaux de solidarité FTQ are re-investing US$10 million in the global IT consolidator.
“The acquisition of US-based Quadrant Software will consolidate Fresche’s position in the market. This is great news for the company and its employees, as well as for the Québec IT sector,” said the Fonds’ Alain Denis, Senior Vice-President, Innovation.
Founding shareholder Andy Kulakowski is at the helm of Fresche, which has 176 employees worldwide, including 75 at its Montréal head office.
Established in 1990, Quadrant focuses on IBM i system maintenance and viability. Based in Massachusetts with offices in North Carolina and British Columbia, the company has about 100 employees.