Corum Group, a global M&A advisory firm for software and related technology companies, has just revealed that its client, Glaston Corporation has reached an agreement to sell Albat+Wirsam Software GmbH (A+W). The company is touted as being a global player in developing software for the flat glass industry as well as engineer to order solutions, and it is reported that Constellation Software will be purchasing it in a deal estimated at around $23.30 million.
The closing of the transaction is subject to customary conditions including a competition review by the German Federal Cartel Office, which is expected to be completed by the end of 2012. It is then that the ownership of A+W will be officially transferred to Constellation.
A+W develops and markets ERP, production planning, scheduling, and optimization software solutions for the glass, window, door, and curtain-wall industries. After it becomes part of the Friedman Corporation, a wholly owned subsidiary of Constellation, it will operate as an independent division of Friedman and will continue to develop, enhance, and market its glass and fenestration industry software solutions worldwide.
“This will benefit both Glaston and A+W, enabling both companies to focus on their core businesses,” said Miro Parizek, managing director, Corum, in a statement.
Parizek added that now Glaston can focus on glass processing machinery and related services, while A+W can continue building out its market leadership position in software for the glass industry.
Corum Group has sold more privately held software, IT and related technology companies than anyone in the world in the last 27 years. The company has achieved this feat by utilizing a team approach to each engagement, led by the industry’s top dealmakers, themselves former CEOs and owners of tech companies.
“Miro Parizek and his team at Corum were instrumental in helping us reach agreement with Constellation Software and the Friedman division,” commented Arto Metsänen, president and CEO of Glaston Corporation. “Without a doubt, the firm’s industry expertise, relations and deal experience were invaluable in this process.”
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Edited by Jamie Epstein