According to Dale Brown, Managing Partner of MIP, “we chose to acquire Stellar Financial because of its market leading products and solutions, loyal and satisfied customers, talented and devoted employees and the opportunity to expand rapidly in its core
Midland, TX (PRWEB) March 22, 2010
Closing took place on March 11, 2010. The new enterprise will remain located in Stroudsburg, Pennsylvania.
Moriah Investment Partners’ principals Dale Brown and Cary Brown have a long history of successful business management in start-up entities as well as mergers and acquisitions. Dale Brown’s experience in technology dates back to 1980 where he was an owner and President of a software development firm serving the independent oil and gas industry.
Joining the Browns as equity partners and members of Stellar’s Board of Directors are Mr. James R. Porter and Mr. Phil Drake. Mr. Porter has been a principal participant in over 30 mergers; managing in the public company sector for most of his career while raising over $500M in the public marketplace. He is the past Chairman of the Board of Directors of CCI/Triad having also served as CEO and President of Triad Systems.
Phil Drake is Founder and Chairman of Drake Enterprises, a group of 18 businesses based in Western North Carolina. Mr. Drake is the Chief Technical Advisor to Drake Software, the flagship company of Drake Enterprises. He began developing tax preparation software in 1977. In 1985, Drake Software was one of the first companies to electronically file tax returns. In 2004, the company won the IRS Modernized e-file Pioneer Award for its efforts. Today, more than 30,000 tax professionals nationwide use Drake Software. Each year, Drake Software processes more than 9 million federal- and state-accepted returns.
Serving as President and CEO of Stellar Technology Solutions, LLC is Bryan Mileger. Mr. Mileger, as CEO, has led three private-equity backed technology companies in the successful achievement of their strategic objectives. As CFO of Convergent Group, Mr. Mileger was instrumental in taking the company public and subsequently negotiating the sale of the company in a private transaction. Prior to leaving for Convergent Group, Mr. Mileger served EDS for 15 years in several positions of increasing responsibility, his last position as Division Vice President/Director of Mergers & Acquisitions.
Mr. Mileger explains, “We are excited about the opportunity enabled by Stellar’s robust philanthropic operations platform and impressive client base. The owners intend to support, invest in and grow the company with a client focused, long term market perspective. We are committed to Stellar’s marketplace and the technology solutions which enable philanthropic endeavors.”
About Moriah Investment Partners
Moriah Investment Partners is an experienced investment firm with a diversified portfolio of companies in the technology, oil and gas, real estate and construction industries. Moriah’s investment strategy is to support and facilitate long term corporate growth in their targeted industry segments. Moriah principals serve on the board of directors of several corporations and philanthropic organizations.
About Stellar Technology Solutions, LLC
Stellar Technology Solutions LLC is a leading provider of integrated enterprise level philanthropic management solutions for charitable organizations. Stellar’s iPhi Suite of Software includes iPhi Core Enterprise, iPhi DonorView, iPhi Grantee View, iPhi Investment Partner View and iPhi Web Manager.
Stellar software solutions power some of the largest and most well-respected Community Foundations, Religious Philanthropies and Commercially Sponsored Donor Advised Fund, Planned Giving and Endowment Programs in the nation.
To Contact Stellar Technology Solutions, LLC:
President & CEO
Stellar Technology Solutions, LLC
600 Main Street, Suite 100
Stroudsburg, PA 18360