Dulles, VA June 15, 2010 - Compusearch Software Systems, Inc. announced today that it has attracted investment by the private equity firms JMI Equity and Arlington Capital Partners.
Chief Executive Officer Reid Jackson said, "I look forward to partnering with JMI Equity and Arlington Capital Partners. We believe Arlington's extensive expertise in government contracting and JMI's depth of knowledge in commercial software are highly complementary and will help to drive the next phase of the Company's growth. Together, we will continue to help our government clients achieve real-time visibility, control, and transparency in their acquisitions, grants, and intragovernmental transfers through the effective use of the PRISM suite."
"Over the past 5 years, Compusearch has doubled the number of clients and users that its products support while significantly expanding our line of products and services. We are excited to enter this next phase of growth with the strategic and financial support of our investment partners," said Peter DiGiammarino, Chairman of the Board of Directors.
Compusearch is the leading provider of enterprise software and services that automate mandated business rules for public sector organizations with authority to spend, grant, or move funds. Compusearch's PRISM and FedConnect products are installed at more than 80 agencies across the civilian, intelligence, and defense sectors. More than 40,000 federal employees rely on Compusearch's technologies and services to perform their jobs efficiently.
"JMI is pleased to partner with Reid, Peter, and the entire Compusearch management team due to their track record of strong leadership. JMI has enjoyed a successful history of investing in companies addressing under-automated business processes. We believe that Compusearch addresses a clear pain point in the government procurement market. Their market leading PRISM solution, highly-capable technical team, and 100% compliance with government regulatory standards have positioned the Company for continued growth. We are excited to be part of this dynamic team," said Bob Smith, General Partner at JMI Equity.
"The Federal Government has stated its intention to improve transparency in the procurement and contracting process while significantly increasing the ranks of the federal acquisition workforce. Over the past 25 years, Compusearch has built the most successful acquisition support software and services offerings in the industry and consequently is uniquely positioned to benefit from these trends. There are numerous potential opportunities across the Defense, Intelligence, and Civilian markets that, with our collective support, Compusearch is well positioned to pursue," said Jeffrey Freed, Co-Founder and Managing Partner of Arlington Capital Partners.
The existing management team and 175 employees will remain with the Company along with the name Compusearch and the name of its products: PRISM Acquisitions, PRISM Grants, PRISM Intragovernmental, and FedConnect - brands that federal procurement and grants professionals have come to count on every day to support and manage government acquisitions.
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Founded in 1983, Compusearch is the leading provider of enterprise software and services that automate mandated business rules for public sector organizations with authority to spend, grant, or move funds. Compusearch's software solutions provide federal, defense and intelligence agencies with the visibility, control, and transparency necessary to improve productivity and performance while also meeting increasingly stringent reporting requirements. Developed specifically for agencies of the U.S. Federal Government, Compusearch solutions are the most widely adopted acquisition and grants management systems with more than 40,000 authorized users representing 80 organizations around the globe.
Compusearch, PRISM, and FedConnect are trademarks, or registered trademarks of Compusearch Software Systems, Inc., in the United States and/or other countries. FedConnect is the trademark for Compusearch’s FedConnect product.
About JMI Equity
JMI Equity is a private equity firm focused on investing in growing software, internet and business services companies at all stages of their lifecycles. Founded in 1992, JMI has invested in 96 leading businesses in its target markets and has approximately $1.3 billion of committed capital under management. JMI provides capital for growth, recapitalizations, acquisitions and buyouts. Representative investments include Blackbaud, DoubleClick, Eloqua and Service-now.com. For more information on JMI, visit http://www.jmiequity.com.
About Arlington Capital Partners
Arlington Capital Partners (www.arlingtoncap.com) is a Washington, DC-based private equity fund with over $1.3 billion of committed capital focused on middle market buyout investment opportunities in growth industries including: government contracting, aerospace/defense, federal and commercial IT and engineering services, media, education & training, healthcare services and business services & outsourcing. The firm's professionals have a unique combination of operating and private equity experience that enables Arlington to be a value-added investor. Arlington invests in companies in partnership with high quality management teams that are motivated to establish and/or advance their company's position as leading competitors in their field.
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