Tequity Announces Another Successful Tech M&A Transaction
Toronto, ON (PRWEB) January 13, 2015 -- Logitek Technology Ltd. (QLogitek), a wholly owned subsidiary of Smart Employee Benefits Inc. (SEB), has entered into an agreement with DiCentral Corporation to jointly service the Canadian EDI (Electronic Data Interchange) market. Tequity acted as the exclusive advisor to Smart Employee Benefits Inc.
As part of this transaction, DiCentral has acquired QLogitek’s EDI business, including all existing IP and support infrastructure in Canada, for $2,150,000. On closing, SEB received $1,000,000 cash with $750,000 cash payable on or before January 15, 2015 and the remaining $400,000 payable over 24 months in varying amounts in 6 month intervals.
QLogitek will operate as a strategic partner-reseller of DiCentral’s EDI solutions. DiCentral is co-locating at QLogitek’s offices in Mississauga, Ontario. QLogitek personnel will continue to support existing clients in the same infrastructure. Over time, select applications will be migrated to DiCentral solutions. SEB will also deploy DiCentral’s EDI technology solutions in SEB’s health benefits administration and health claims processing environments. QLogitek’s “EDI” business was approximately 35% of its total sales.
ABOUT DiCENTRAL CORPORATION: Founded in 2000, DiCentral is a leading innovator in supply chain management solutions and B2B integration. DiCentral provides B2B outsourcing and managed services in the cloud, using state of the art technology to manage transaction flow, process orchestration, and business rules with a global team to manage their clients’ global eco system needs. Based in Houston, Texas, DiCentral services clients in over 27 countries around the globe.
http://www.dicentral.com
ABOUT SMART EMPLOYEE BENEFITS INC.: SEB's core expertise is managing specialized Big Data environments, of which healthcare and benefits claims processing is a major focus. SEB uses a SaaS business model to provide software solutions and services specializing in managing group benefit solutions and healthcare claims processing environments for corporate and government clients.
http://www.seb-inc.com.
ABOUT TEQUITY INC.: Tequity provides merger, acquisition, valuation, and exit strategy advisory services exclusively to Software and Information Technology companies in the lower middle market. We assist CEO's and shareholders of founder-driven organizations to obtain maximum value and achieve their growth or exit goals through strategic M&A transactions.
http://www.tequityinc.com
Forward-Looking Statements
This news release is intended for information purposes only. Statements made in this news release may contain "forward looking" information about the company's future business prospects. These statements while expressed in good faith and believed to have a reasonable basis are subject to risk and uncertainties that could cause actual results to differ materially from those set forth or implied by such forward looking statements. Investors should consult a professional advisor before making any investment decision.
Diane Horton, Tequity Inc, http://www.tequityinc.com, 416-483-9400 Ext: 103, [email protected]
Share this article