U.S. private equity firm Bridge Growth Partners has acquired a majority stake in Solace Systems Inc, a Canadian provider of infrastructure messaging technology. No financial terms were released for the deal, which is intended to support Solace’s global growth. With the acquisition, Tom Manley, senior principal of Bridge Growth Partners, and Alok Singh, its co-founder and managing principal, will join the company’s board of directors. Founded in 2001, Ottawa-based Solace has been venture-backed since 2005, according to Thomson Reuters. Its current investors include Canadian firms Hawthorn Equity Partners, Tandem Expansion and Wesley Clover International.
Bridge Growth Partners Acquires Majority Interest in Solace Systems
April 06, 2016
NEW YORK–(BUSINESS WIRE)–Bridge Growth Partners, LLC today announced that it has acquired a majority interest in Solace Systems, an innovative and leading provider of infrastructure messaging technology. Solace technology efficiently moves mission critical, real-time data across and between businesses and global ecosystems. Solace products, which are deployed in many global organizations across a wide range of industries, including financial services, telecommunications and manufacturing, enable enterprises to fully leverage the power of cloud computing, Big Data, the Internet of Things, and mobile computing within their corporate technology infrastructure.
“We are very pleased to partner with Bridge Growth Partners and are excited that they share our vision and commitment to putting customers first,” said Craig Betts, Founder, President and Chief Executive Officer of Solace Systems. “The Bridge Growth team’s resources and experience building technology businesses will help Solace Systems accelerate its global expansion.”
“We look forward to partnering with Craig Betts and his experienced, driven management team in pursuing and achieving an exciting new phase of opportunity and growth for Solace Systems,” said Tom Manley, Senior Principal of Bridge Growth Partners. “Together, we will focus on helping Solace accelerate growth by further investing in its go to market strategies, building a rich ecosystem with leading alliance partners, and leveraging the company’s proven and innovative technology. We believe Solace is well positioned to capitalize on the growing demands being placed on technology infrastructure, driven by rapid movement to the cloud and the influx of Big Data and the Internet of Things.”
Solace Systems, based in Ottawa, Canada, uniquely offers companies the choice of a proven high-capacity message router appliance for their core data sharing needs, and a software “virtual” message router for deployment in the cloud or remote locations. Corporate CTOs and CIOs — grappling with the stresses and increased demands on their legacy technology infrastructures due to rapidly growing information requirements and data volumes — increasingly recognize that Solace solutions can represent a critical component in achieving their mission to transform their capabilities. Solace customers are increasingly standardizing on Solace as the market’s highest performing, most reliable solution that supports all use cases at a significantly reduced total cost of ownership. Solace customers and commercial partners include Barclays, RBC, London Stock Exchange, Bharti Airtel, SAP, Tata, and Bet365, among others.
Tom Manley and Alok Singh, co-founder and Managing Principal of Bridge Growth Partners, will both join Solace Systems’ Board of Directors.
About Bridge Growth Partners
Bridge Growth Partners, LLC is a uniquely structured growth-oriented private equity firm that focuses on investments in the technology and technology-enabled financial services sectors. Bridge Growth was founded with the goal of bringing together significant investment, financial, operating, and strategic business building expertise and talent. Led by seasoned investment professionals Sander Levy and Alok Singh, combined with veteran operating executives Tom Manley and Kevin Parker, Bridge Growth leverages the team’s extensive experience in strategic development, corporate positioning, driving growth and operating improvements, and building effective boards of directors with world-class governance practices. For more information about Bridge Growth Partners, please visit www.bridgegrowthpartners.com.
About Solace Systems
Solace provides technology that improves the speed and efficiency with which information flows between applications, connected devices, datacenters and people. High-speed, reliable information sharing is a critical part of modern IT initiatives from accelerating legacy business processes to enabling big data, cloud computing and the Internet of Things. Solace unifies many kinds of data movement so companies can cost-effectively move all of the information associated with better serving customers and making smarter decisions. To learn more visit http://solacesystems.com.
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Photo courtesy of Solace Systems Inc