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Speedware Corporation Inc., Montreal, Quebec, a enterprise software solutions and productivity tools provider, has entered into a Definitive Purchase Agreement with Dallas, TX, based Prelude Systems, Inc., a provider of enterprise software solutions to the distribution market.
For twenty-five years Prelude has provided trend-setting software solutions to maximize wholesale distributor personnel efficiency, reduce inventory, and improve customer service. This acquisition provides Prelude customers with the stability and financial backing of a larger company environment while providing employees with the opportunities of a growing company. This acquisition will provide opportunity for expanded research and development, support and sales growth.
"We are very excited to welcome Prelude's outstanding team of employees as well as its large and loyal customer base," said Andrew Gutman, CEO of Speedware. "The acquisition combined with our offerings in the Building Materials marketplace through our ECS division, expands our overall reach in the distribution enterprise software market. Prelude, with its customer-centric focus and deep market expertise, is an ideal partner for Speedware, as we continue to drive growth organically and from our ongoing acquisition strategy."
"Combining with Speedware increases our financial and operating strength for product investment, future acquisitions, and long-term prosperity," said Don Webb, president of Prelude. "As consolidation in the enterprise software market continues, we are confident that by joining with Speedware we will be ideally positioned to further serve our customers and to be the vendor of choice for future clients."
Prelude has been providing its customers a sophisticated set of solutions to meet the ever growing business complexities that distributors face. Prelude addresses the needs of a broad range of distribution markets including, pool supply, industrial, automotive parts, and consumer products. Prelude reported approximately CAD$18 million in revenue for the year ended June 30, 2004. Speedware expects that the results of Prelude's operations will be consolidated with Speedware's financial statements commencing with the quarter ending September 30, 2004.