Syntax Systems (Syntax), a provider of cloud managed ERP services, is acquiring German IT services company Freudenberg IT (FIT), enabling Syntax to enter the SAP application market.This acquisition expands Syntax's service offerings in the SAP market and complements existing business operations.
Syntax can now provide end to end solutions for customers, offering them flexibility with both Oracle and SAP ecosystem expertise and serve them worldwide. Additionally, Syntax will leverage their current Private, Hybrid and Public cloud capabilities to accelerate FIT's growth in SAP.
With more than 850 SAP professionals, FIT manages SAP applications in the Cloud for Enterprise customers in Europe, America and Asia.
This strategic acquisition enables both companies to combine their specific strengths and serve new markets with a growing portfolio.
Syntax is a portfolio company of Novacap TMT IV and Novacap TMT V, a Montreal based private equity firm, which also provided the equity financing for the transaction.
FIT is a global leader in managed IT services that specializes in helping companies optimize mission-critical technology that runs their businesses, using SAP applications.
"We are excited by the opportunity of joining forces with FIT and extend our reach to the SAP ecosystem. This acquisition will enable us to increase our presence in geographies we had previously targeted for growth, such as Europe and Asia." says Christian Primeau, CEO of Syntax. "Their devotion to excellence combined with their expertise and strong customer focus and value for corporate social responsibility made it an obvious choice for Syntax."
For more information about this news, visit www.syntax.com.