Bedford, NH (PRWEB) October 30, 2006
Scribe Software Corporation, a provider of data migration and integration software technology for leading Customer Relationship Management (CRM) systems and Enterprise Resource Planning (ERP) systems, today announced that the company has been acquired by The Mustang Group and key members of the Scribe management team.
"When one considers The Mustang Group's investment criteria, this acquisition is a confirmation of our ongoing business strategy and our commitment to the markets we serve, our resellers, and our customers," states Mark Prestipino, President and CEO of Scribe. "The principals at The Mustang Group have the deep background, expertise, and operating experience in the markets we serve. We look forward to our partnership as we execute on the growth strategies available to the company."
Existing senior management will remain in their current positions, with future expansion of the team expected as the company continues to experience growth in the market. "We were looking to take advantage of the tremendous market potential before us, and The Mustang Group allows us that opportunity," explained Peter Chase, founder and Executive Vice President of Scribe. "The entire team here at Scribe would also like to acknowledge the investment of money, time, and expertise by Edison and Borealis. Their support has been instrumental in Scribe's ability to grow and establish this enviable market position."
Bob Crowley, a Managing Partner at The Mustang Group shares the enthusiasm of this partnership, "Scribe is led by a great team, with world-class products, deep partnerships and a solid position in the market. We see great potential as Scribe fills the growing unmet need for affordable, easy to deploy, packaged integration tools for both the on-premise and the on-demand application spaces."
About Scribe Software Corporation (http://www.scribesoft.com)
Scribe Software Corporation provides data migration and integration software solutions that put CRM and ERP to work for its customers. Scribe's products make it possible for companies to sell more and provide better customer service by creating one complete view of the customer. Scribe Software is a privately held corporation headquartered in Bedford, New Hampshire and was founded in 1996.
About The Mustang Group, LLC (http://www.mustanggroup.com)
The Mustang Group is a Boston-based private equity firm founded in 2003 that invests in middle-market companies throughout North America. Recognized by Buyouts Magazine with the 2006 Public-To-Private Deal of the Year Award, The Mustang Group invests in a range of industries. Their investments include market leading companies such as The Vermont Teddy Bear Company and Cascade Lacrosse.