Friedman Announces Acquisition of Future Business Systems
03 June 2015 – Deerfield, IL, United States – Friedman Corporation (“Friedman”), a division of Vela Software International, has completed the acquisition Future Business Systems Pty Ltd.
Future Business Systems (www.fbsaust.com.au), based in Melbourne, Australia develops retail management systems, point of sale systems, accounting software and enterprise management systems for businesses in the retail and manufacturing industries. The Harmony software suite has modules for point of sale, inventory management, accounting, e-commerce, distribution and manufacturing.
As a result of the acquisition, Future Business Systems will operate as an independent division of Friedman’s Markinson Technologies group, and will continue to develop, enhance, service, and support their software solutions in order to provide a competitive edge to its customers.
Mark Thompson, Chief Executive Officer of Friedman, commented “The acquisition of Future Business Systems builds on our meaningful presence in the Australia and Asia-Pacific region, and extends our footprint in the apparel, retail and wholesale distribution sectors.”
Mark Silver, Managing Director of Future Business Systems, adds “This is an exciting development for both Future Business Systems and our customers. The strategic and operational support provided by Markinson Technologies and the Friedman Operating Group will facilitate our continued development throughout the Harmony portfolio and allow us to extend our market reach. We look forward to successfully expanding our business while continuing to provide first-class service to our customers."
About Friedman Corporation
Friedman Corporation is headquartered in Deerfield, IL and is a division of Vela Software International, Inc. Friedman Corporation specializes in complete ERP solutions for manufacturers and distributors of "make to order" and "engineer to order" products in the building products, capital equipment, and automotive sectors. The Friedman Operating group also has a complementary portfolio of software offerings for apparel retailers, textile designers, transportation management, material optimization, supply-chain management, multi-channel merchant and direct-to-consumer distribution.
About Vela Software International, Inc.
Vela Software is a global provider of software solutions to a number of vertical industries. As an Operating Group of Constellation Software Inc., Vela acquires, manages, and builds specific software businesses which provide specialized, mission-critical software solutions. Vela companies invest in becoming leaders in their industries to better serve their customers. We help companies improve their operations, grow through organic initiatives, and seek acquisitions that can strengthen their market position.
About Constellation Software Inc.
Constellation's common shares are listed on the Toronto Stock Exchange under the symbol "CSU". Constellation acquires, manages and builds vertical market software businesses. Further information about Constellation may be obtained from the company’s web site at www.csisoftware.com.