Tech vendor ProfitSystems acquires EasyChair Software
Gary Evans -- Furniture Today, December 24, 2007
Colorado Springs, Colo. — Retail technology vendor ProfitSystems has acquired EasyChair Software, strengthening its position as a software supplier to both large and small furniture retailers.
A purchase price was not disclosed.
The purchase was by the Riverside Co., which owns 80% of ProfitSystems, and the Employee Owner's Group, including 18 ProfitSystems staff members who hold a 20% stake through a stock ownership program. EasyChair was owned by RCM Holdings, headed by Rod Merry. Merry will aid with the transition.
EasyChair serves smaller independent dealers, said Jeff Niskern, president of ProfitSystems.
"Our focus is on independent retailers and a lot of our programs are designed around helping independent retailers," Niskern said. "They're our bread and butter, our life's blood. When they do well, we do well."
EasyChair has 152 dealers with 800 stores. The combined companies will serve about 1,000 dealers with more than 3,000 stores, Niskern said.
Combined revenues will be between $8 million and $9 million, he said.
Jeff Goodman, operating partner for Riverside, said the $2 billion private equity investment firm "is very excited about ProfitSystems' acquisition of Easy Chair Software and what it means for the future of both companies and their clients. EasyChair Software clients now have access to an even wider portfolio of products and solutions to help them grow their business and improve profitability."
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