Electronics Production |
Visiprise and HMS Software<br> announce merger agreement
Visiprise, Inc. and HMS Software, Inc. today announced they have entered into an agreement to merge operations and move forward under the Visiprise name.
The transaction, which is scheduled to close in November, will make the merged company the industry leader in delivering integrated manufacturing operations solutions. The combined footprint of the two companies provides a single source for manufacturers that require an integrated manufacturing environment.
With the merger, Visiprise will organize into industry business units (IBUs) to create more focus around the company's selected verticals. McCloskey will continue to lead Visiprise as CEO, and HMS Software President and Co-founder Alex Houtzeel will be joining Visiprise's board of directors. Mr. Houtzeel along with HMS Software Co-founder Rob McNiff will lead the aerospace and defense IBU. Visiprise Vice President of Product Management Mike Lackey will lead the high-tech and automotive IBUs. Both Visiprise and HMS Software executives will hold management positions in the new organization.
To facilitate the transaction, Visiprise has closed on $32 million of new financing led by Investor Growth Capital and Westbury Partners. This financing also included participation from Visiprise's current investors RRE Ventures, Morgan Stanley Venture Partners, Canaan Partners, Wheatley Partners and Entrepreneurs' Growth Fund. Visiprise will be headquartered in Atlanta, Ga. from where it will operate a strong sales, services and support presence on nearly every continent with key U.S. operations in Boston and San Diego, and international offices in Singapore, the United Kingdom and throughout Europe. The combined company will have more than 270 employees servicing more than 200 customers globally, including BAE Systems, Boeing, Bombardier Aerospace, Celestica, ConMed, Honeywell, Lockheed Martin, Nokia Networks, and Solectron.
