Moncton, New Brunswick, Canada, and Dayton, Ohio -- Whitehill Technologies Inc. has purchased InSystems, a wholly owned subsidiary of Standard Register, a document services provider based in Dayton, Ohio. Financial terms of the deal were not disclosed."We believe that InSystems will be better positioned for success as part of a software company," says Dennis Rediker, Standard Register's president and CEO. "InSystems is a recognized software technology leader with an attractive customer base in the insurance market."
"The combined company's critical mass will be nearly 1,000 customers strong, including several hundred insurance companies and more than half of the world's largest law firms," says Paul McSpurren, president and CEO, Whitehill Technologies Inc. "InSystems clients, products and people will find a welcome home with Whitehill."
Current InSystems customers should expect business to continue without interruption. There are more than 500 person-years and $60 million invested in R&D between Whitehill and InSystems. The shared vision to build upon the domain expertise, process knowledge and service delivery success of the combined companies was a key driver of the acquisition.
Tom Eisenhauer, chairman of Whitehill Technologies Inc., and managing partner of Latitude Partners, agreed the deal made sense for everyone. "It is not often that an M&A transaction happens for all the right reasons--Standard Register's commitment to doing the right thing is what made this deal happen. We are very excited about Whitehill's continued success as it positions itself for even greater growth."
Some of the key highlights of the combined company include:
* Whitehill now has nearly 1,000 enterprise customers in 45 countries.
* Whitehill now has more than 200 employees and offices in Canada (Markham, Ont.), the U.K .(London), and the United States (Roanoke, Va.), with its corporate headquarters remaining in Moncton, New Brunswick, Canada.
* Whitehill products include offerings for insurance companies, law firms and financial services organizations.
Whitehill has already started meeting with InSystems customers and will continue to do so.
Source: Whitehill Technologies Inc.
