Visiprise and HMS Software announce merger agreement
Oct 17, 2005
Visiprise, Inc. and HMS Software, Inc. have 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.
"The HMS Software team has successfully created an organization that is unmatched in quality and execution in the aerospace and defense industry," said Sean McCloskey, Visiprise CEO. "By combining the two companies, we will be able to exceed customer expectations with a broader and deeper solution footprint. Manufacturers will be using our solutions to build everything from thousands of circuit boards to complex jet engines. In addition, the revenue and customer scale enhances our partnerships with SAP and UGS."
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.