Syntax Systems, a provider of cloud managed ERP services, has announced the acquisition of Core Services Corp., enabling Syntax to now offer cloud-based ERP services for both Oracle JD Edwards and Enterprise Business Suites throughout North America.
Core Services is an Oracle Platinum Partner and OAUG Three Star Partner, delivering Oracle Applications implementation, development, and support to clients worldwide via its cloud managed services and consulting services.
Additionally, Core Services is authorized to sell and service the Oracle Applications, leveraging Oracle's Business Accelerators.
The acquisition was financed with equity provided by NOVACAP with participation from Private Advisors and Northleaf Capital, and members of the Syntax and Core Services management teams. Financial terms of the transaction were not disclosed.
The new combined entity will have employees in offices across the U.S., Canada, India, and Argentina. Syntax is headquartered in Montreal, Quebec and Core Services in Somerset, New Jersey.
Syntax was particularly interested in Core Service’s innovation-driven business model, its custom monitoring solutions, its client base, and its team of professionals, according to Syntax co-CEO Ryan Etinson, who also noted that Syntax and Core Services share similar cultures.
TM Capital served as Core Services' exclusive financial advisor in connection with this transaction, and TD Securities (USA) LLC served as exclusive financial advisor to Syntax. TD Securities (USA) LLC served as administrative agent and joint bookrunner and joint lead arranger with National Bank of Canada for the senior secured credit facilities with participation from CapitalSource, a division of Pacific Western Bank and Webster Bank, N.A.
For more information, go to www.syntax.com and www.coreservices.com.