Syspro, a South African-founded ERP software developer, has been sold to global private equity firm Advent International.
From left, Syspro CEO Jaco Maritz, outgoing chair and founder Phil Duff , and incoming chair Mike Ettlingenterprise resource planning software developer, has been sold to global private equity firm Advent International.board, will retire at the end of September, the company said in a statement on Tuesday. Duff started Syspro in 1978 when he identified a gap in the market for accounting software.
Advent will acquire a majority stake in Syspro, which was founded in South Africa in 1978 and which today has headquarters in both the UK and South Africa. “This transaction will accelerate Syspro’s global growth ambitions, through additional investment to support next-generation product and technology innovation to unlock growth opportunities in key markets, including the US and UK,” the company said in the statement.
Advent has investments in ERP, financial and manufacturing software. Its recent investments include Aareon, a European provider of software-as-a-service solutions for the property industry; Unit4, a global cloud ERP software vendor; Medius, a global leader in AP automation, business-to-business payments, sourcing and procurement software; and Prometheus Group, a global provider of enterprise asset management software.
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