14th Dec 2011. Friedman Corporation, a wholly-owned subsidiary of Constellation Software, Inc. (“Constellation”, TSX: CSU) announces that it has acquired Brisbane-based Markinson Technologies Pty Ltd. Terms for the acquisition have not been disclosed.
Constellation is a very successful, serial acquirer of vertical market software firms such as Markinson, and the acquisition is its most signifiacnt todate in the Australian market, having acquired Melbourne-based lesuire software firm Centamen in 2010, and Australian owned (but US based Viewlocity at the beginning of 2011.
As a result of the purchase, Markinson will become part of Constellation’s Friedman Operating Group, and will operate as an independent division of Friedman. Markinson will continue to develop, enhance, and sell ERP software solutions and continue to provide the highest level of support to their customers.
Markinson offers full-featured, configurable ERP, CRM and Retail applications for multi-facility wholesalers and retailers through two product lines: Momentum Pro and Shopkeeper. Markinson’s ERP solutions support a broad range of industries including Automotive, Electronics, and Capital Equipment, with a customer base throughout Australia, New Zealand and the Asia-Pacific region. Markinson is based in Australia, and has offices in Brisbane, Sydney and Melbourne.
Eric Herrmann, Chief Financial Officer of the Friedman Operating Group, said “The acquisition of Markinson complements the Friedman Operating Group’s markets and product portfolio. The Markinson product offering will enable us to grow our presence in the distribution, wholesale and retail management market sectors across specialized industries and further penetrate the Australian and Asia-Pacific regions.”
Mark Robertson, Chairman and Founder of Markinson, added “This is an exciting development for both Markinson and its customers. The acquisition by Friedman provides us a strong corporate platform and access to resources and expertise which will allow us to improve our product portfolio and extend our market reach, while at the same time continuing to provide first-class service to our customers.”
Markinson CEO, Ian Whiting, sees the deal with Constellation as being the next logical step for the business following two years of acquisitions and organic growth, which has helped strengthen the company’s position in the local business software solutions market. “Our acquisition by Friedman now provides us with a stronger corporate platform to support our next phase of growth, while at the same time continuing to provide first-class service to our customers,” Whiting said.
Markinson was advised by Charles Lindop, of Sydney-based corporate advisory firm, Carlisle Partners.
Founded in Brisbane in 1986 by current chairman Mark Robertson, Markinson was one of Australia’s largest privately owned commercial software firms, providing ERP sand CRM solutions to primarily to the mid market wholesale and distribution marketplace. Markinson developed its flagship ERP solution MomentumPro over many years, and more recently acquired its Shopkeeper retail solution (in 2007), its Australian BPM capability (Adexio, 2009), CRM capability (Acuere, 2010), and its New Zealand capability (Zeron, 2010).
Constellation Software is an international provider of market leading software and services to a number of industries across both the public and private sectors. The Company acquires, manages and builds vertical market software businesses that provide mission-critical software solutions to address the specific needs of its customers in those industries. Constellation’s common shares are listed on the Toronto Stock Exchange under the symbol “CSU”.
Friedman Corporation has headquarters in Deerfield, IL and is a wholly-owned subsidiary of Constellation Software, 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 transportation management, material optimization, supply chain management and direct-to-consumer distribution.