Syntax Systems, a leading provider of cloud managed Enterprise Resource Planning (ERP) services, has acquired New Jersey-based Core Services Corp. The combined entities will offer cloud managed services, application managed services and consulting services for ERP applications employed by mid and large companies.
Montreal-based Syntax was acquired last year by private equity firm Novacap, who provided equity for this acquisition along with participation from Private Advisors and Northleaf Capital, and members of the Syntax and Core services management teams. Financial terms of the transaction were not disclosed.
“Syntax and Core Services share very similar cultures. Both companies have long histories of constant investment in their businesses and employees, and we can count on that pattern continuing. Core Services also boasts a great record for sales growth, operational excellence and high-quality customer service. It shares our vision of being the #1 ERP Cloud Provider enabling businesses worldwide to succeed”, said Syntax Co-CEO Kenny Etinson.
The new combined entity will have employees in offices across the USA, Canada, India and Argentina. Syntax is headquartered in Montreal, Quebec and Core Services in Somerset, New Jersey.
“This transaction represents an exciting next step in our plan to create the leading provider of cloud based ERP services throughout the world and we are confident both companies will capitalize on each organization’s strengths,” said Ted Mocarski, Chairman of Syntax and a Senior Partner at NOVACAP.
— Syntax (@syntax_systems) April 20, 2017
“It gives me immense pride to see the team and customers of Core Services become part of the Syntax family, a company renowned for the quality of its products and services. I am confident that this union will bring value to both organizations. I am grateful to be able to hand over the reins of Core Services to such dedicated managers and to Syntax’s great entrepreneurs and I wish them every success,” said Jim Bistis, founder and CEO of Core Services.
Novacap is currently raising its fifth mid-market technology fund, targeted at $600 million.