ERP developers XKO Software and CMS Software of Toronto, Canada are to merge, creating a new force in enterprise software. Financial details of the merger agreement were not disclosed.
The combined business have sales of more than $50million and employ 300 serving some 1,400 customers from offices in Europe, North America and Asia. The businesses will continue to trade as CMS and XKO pending a review of operations.
Shawn McMorran, CEO of the enlarged business, says: “We see growing demand for modern, open systems. Together, our .Net and web services products will bring enterprise class performance to mid-sized organisations at a price they can afford.
“We have the skilled service professionals to back up the products. It’s a winning combination.”
Rudy Joss, who will chair the combined board, adds: “There’s a good natural fit between the firms but minimal operational overlap so the merger is positive for staff as well as for customers.”
David McGovern, managing director at financial backer Marlin Equity Partners, notes: “This is a significant step forward for XKO and CMS. The combined business has scale, market leading products and the local presence needed to deliver excellent service.
“We will continue to invest in the business and support future growth. We are actively looking to acquire businesses with complementary products.”
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