We continue to see consolidation across most vertical and horizontal markets in software and IT in 2013.
Markham, Ontario (PRWEB) March 19, 2013
Smart Employee Benefits Inc. ("SEB") (TSX VENTURE:SEB), is a technology company providing software, solutions and services specializing in "managing group benefit solutions and healthcare claims processing environments, managing human resource processes and requirements and automating business processes" for corporate, government and non-profit clients. SEB is pleased to announce it has received final approval from the TSX Venture Exchange and has closed the acquisition of Logitek Technology Ltd. ("QLogitek"). Tequity Inc. advised QLogitek on the transaction.
Mr. Latiq Qureshi, the principal of QLogitek, has joined the board of directors of SEB. Mr. Qureshi is the founder of QLogitek and has been operating his own businesses since 1976.
QLogitek will be operated as a subsidiary of SEB while maintaining its current brand and software/service/solutions offerings. QLogitek's supply chain solutions and systems integration expertise will significantly enhance SEB's health claims processing solutions capability to its clients.
QLogitek is a B2B-EDI supply chain integration solutions provider. B2B complexities surrounding planning, buying, making, paying, moving, and selling are conveniently managed through the company's suite of 10 products and services. This suite connects enterprises with their trading partners to enable an array of supply chain processes such as EDI exchange for supplier order fulfillment, inbound management for distribution centre optimization, repair-order tracking, scan-based trading, product lifecycle management and claims management.
SEB is a technology company providing software, solutions and services specializing in "managing group benefit solutions and healthcare claims processing environments, managing Human Resource processes and requirements and automating business processes" for corporate, government and non-profit clients.
John McKimm, President/CEO/CIO of SEB commented, " The QLogitek acquisition enhances SEB's ability to offer efficient and highly cost effective functionality, features, and comprehensive services to this industry that are not readily available in the Canadian marketplace today.”
Latiq Qureshi, Pres/CEO, QLogitek, commented, "The fit between QLogitek and SEB creates opportunities for both companies to further QLogitek supply chain solutions into new marketplaces, particularly in healthcare. There are many additional synergies that both companies will enjoy as we move forward together in providing software, solutions and services to our clients."
Tequity helps the CEO's and shareholders of Software and Information Technology companies with divestitures, acquisitions, valuations, and exit strategies. We are experienced in both domestic and cross-border transactions, and our vast network of industry contacts, knowledge of the market, and ability to identify and pursue the value of IP and other items that significantly impact valuation in knowledge-based businesses adds tremendous value to each of our engagements.