Canadian private equity firm Birch Hill Equity Partners has made an investment in Sigma Systems, a provider of idea-to-install software solutions for communications, media and high technology industries. The deal, the financial terms of which were not disclosed, will be done in partnership with the company’s management team, including President and CEO Tim Spencer. Founded in 1996, the Toronto-based Sigma Systems said the partnership will support its growth plan, which will focus on acquisitions, new product lines, and expansion into new industries and customer segments. As reported by peHUB Canada last October, Birch Hill is currently launching its fifth mid-market fund, Birch Hill Equity Partners V LP.
Sigma Systems Takes on Investment From Birch Hill Equity Partners
TORONTO, ON–(Marketwired – June 01, 2015) –
Sigma Systems, a leader in catalog-driven omni-channel selling and fulfilment solutions for the communications, media and high-tech industries, has announced that Birch Hill Equity Partners has made a significant investment in Sigma Systems in support of its continued growth plans. In connection with the transaction, Sigma President and CEO, Tim Spencer, and the existing Sigma management team will form a new partnership with Birch Hill.
Sigma has been pursuing an aggressive growth plan over the last several years. Having chosen Birch Hill, this strategic investment will help Sigma accelerate the delivery of advanced solutions enabling customers to enjoy the increased time to value and business agility associated with true omni-channel product creation, selling and fulfilment solutions for digital services.
Sigma Systems is a Canadian success story, with its products managing 100’s of millions of subscriber services and $150b of products at over 75 communication service providers in 40 countries around the globe. The company’s product portfolio spans the Order to Delivery process of digital service providers, including product & service catalog, product lifecycle management (PLM), configure price quote (CPQ), order management, service provisioning, service inventory, cloud brokerage and device management — all of which can be deployed in the cloud or on-premise.
“This investment by Birch Hill marks a significant corporate milestone for Sigma,” said Andy Jasuja, cofounder and Chairman at Sigma Systems. “It is a recognition of the tremendous success Sigma has enjoyed in the industry.”
This year Sigma was recognized as one of Canada’s and the United Kingdom’s top employers and has received numerous awards for its innovations and corporate culture. The investment will allow Sigma to continue its aggressive growth plan, including acquisitions, development of new product lines, and expansion into new industries and customer segments.
“Sigma’s strength is in the deep industry knowledge of our people and its firm commitment to product innovation that our customers have come to expect from us,” said Tim Spencer President & CEO at Sigma Systems. “With Birch Hill we get a partner that shares that vision and has a strong track record of accelerating the growth of global technology companies.”
Michael Mazan, Partner at Birch Hill adds, “Sigma Systems is one of the leading brands in the communications software market. They have a strong management team coupled with talented and experienced people. We look forward to working with Tim and his team to execute their ambitious growth plan in this dynamic industry vertical.”
About Sigma Systems (sigma-systems.com or Twitter @SigmaSystems)
Sigma Systems is the pioneer in idea-to-install software for communications, media and high tech companies. The company’s product portfolio spans product & service catalog, configure price quote, order management, service provisioning, service inventory, cloud brokerage and device management — all of which can be deployed in the cloud or on-premise. Sigma products manage 100’s of millions of services exceeding $150b of products defined and installed at over 75 customers in 40 countries.
About Birch Hill Equity Partners (www.birchhillequity.com)
With over $2 billion in capital under management, 24 partner companies and 33 fully realized investments since 1994, Birch Hill is the leader in long-term value creation in the Canadian mid-market. As a group, Birch Hill’s partner companies represent one of Canada’s largest corporate entities with over $6 billion in total revenue and more than 34,000 employees.
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Photo courtesy of Sigma Systems