Advent International has agreed to acquire a majority stake in SYSPro, a prominent South African software company.
This move will accelerate SYSPro’s global growth through enhanced investment in next-generation product and technology innovation. The acquisition will open growth opportunities in key markets, including the USA and the UK.
Advent International is a seasoned investor in the software domain with a diverse portfolio that includes enterprise resource planning (ERP), financial, and manufacturing software.
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Their other recent investments include Aareon, Unit 24, Medius, and B2B Payments, specializing in various software needs. This extensive experience will be crucial in supporting SYSPro’s growth trajectory.
The acquisition will see Mike Ettling, current CEO of Unit4, join SYSPro as board chair. Douglas Hallstrom, Director at Advent International, emphasized their long-standing interest in SYSPro and their readiness to back its ambitious innovation plans.
Christian Braunfisch, Assistant Director at Advent, noted SYSPro’s established market presence and significant growth potential.
SYSPro Co-founder Phil Duff expressed confidence in Advent International’s ability to drive ongoing growth and innovation. He will retire in September 2024, concluding 46 years of leadership.
CEO Jaco Maritz will continue to lead SYSPro, stating that the partnership with Advent International underscores SYSPro’s strategic realignment. Both companies aim to deliver exceptional manufacturing and distribution software solutions globally.
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