Jaco Maritz, CEO at the South African privately-owned ERP software vendor Syspro, says the company will focus on innovation within cloud, AI and user experience to accelerate growth ambitions in the US and UK markets.
This follows the mid-August announcement that US-based private equity firm Advent International will acquire a majority stake in Syspro.
Founded in 1978, Syspro specialises in software for the manufacturing and distribution industries, and has established a global footprint and channel partner network. It had been scouting the market for an international partner with a strong track record in business acquisitions and expertise in enterprise software. Advent, an experienced software investor, fit the bill.
The deal, for an undisclosed amount, is expected to close in late Q3, pending customary regulatory approvals and closing conditions.
Business plan
With Advent’s capital, expertise, and networks, Syspro plans ambitious financial and commercial growth with an expanded product range.
The startegy for expanding into the US and UK includes targeting key industries, forming strategic partnerships, and leveraging Advent's resources.
“Advent as the new shareholders and directors will work with Syspro’s management team to build the business plan to support our global aspirations over the next few months,” says Maritz.
Syspro's leadership, including Maritz and the senior team, will stay in place, supported by chairman Mike Ettling. The founder and chairman Phil Duff will retire at the end of September.
The company identifies the impact of AI innovation in manufacturing, and smart factory, as significant trends in the marketplace.
“By capitalising on trends such as digital transformation, cloud adoption, AI, IoT, and cyber security, Syspro will enhance its ERP offerings to meet the evolving needs of businesses in the UK and US," says Maritz.
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