Calero Software and MDSL, two high growth software providers in the recurring Technology Expense Management (TEM) and Market Data Management (MDM) space, announced that they have completed their merger in a transaction led by Oak Hill Capital Partners and Riverside Partners. Financial terms of the merger were not disclosed.
As previously disclosed, Charles Layne has been named Chief Executive Officer and Scott Gilbert has been named President with responsibility for the integration of the two companies as well as global operations. The combined business will be headquartered in Phoenix, AZ and its largest operations center will be in Rochester, NY. Significant operating locations will be maintained in existing locations in the United States, the United Kingdom, The Netherlands, Hong Kong, and France. fintech news
Additionally, the company announced that Andrew Taylor, formerly Executive Vice President of Sales for Calero, has become Chief Revenue Officer of the combined business, responsible for global sales and client success. The company also announced that Simon Mendoza, formerly CTO of MDSL, has become CTO for the combined business.
“Calero and MDSL will operate for the time being under the name Calero-MDSL and integration efforts to bring the two companies together are already well-underway,” said Charles Layne, Calero-MDSL CEO. “With the closing of the merger, we have taken a very important step forward in combining two great software companies and we are even more excited about this incredible opportunity to expand our technology and service offerings in the future. The new Calero-MDSL has over 800 highly talented employees and serves more than 3,500 customers in the TEM and MDM sectors.”
Scott Gilbert, Calero-MDSL President, added, “We have two very excited teams of individuals and we are moving quickly to capitalize on the strengths of both organizations. Our primary focus is ensuring that our customers experience zero disruption in their ongoing implementations and service delivery activities.”
“The goal in combining Calero and MDSL is to create an industry leader that will provide best-in-class solutions for its customers. With the backing of Oak Hill Capital and Riverside Partners, Calero-MDSL will have additional resources to accelerate significant investments in product development and customer service innovation,” said Steven F. Kaplan, a General Partner at Riverside Partners and Chairman of Calero-MDSL.
Adam Hahn, a Principal at Oak Hill Capital added, “We are dedicated to ensuring Calero-MDSL continues to provide outstanding customer service to its blue chip TEM and MDM customers, while also assisting the company in expanding its offerings to assist its customers in managing expenses in exciting growth areas such as IoT, SaaS and Cloud.”
About Calero-MDSL
Calero-MDSL is a leading provider of Technology Expense and Market Data Management solutions designed to provide clarity, control, compliance and cost savings. With a deep commitment to innovation and customer service, Calero-MDSL partners with enterprises to provide a unified expense management platform that supports Telecom Expense Management, Managed Mobility Services, the Internet of Things and Financial Market Data Management. Calero-MDSL has thousands of customers in over 50 countries worldwide, including corporations, universities, financial institutions and government agencies. Learn more at http://www.calero.com or http://www.mdsl.com.
About Oak Hill Capital
Oak Hill Capital is a private equity firm managing funds with approximately $15 billion of initial capital commitments and co-investments since inception. Over the past 33 years, Oak Hill Capital and its predecessors have invested in over 90 private equity transactions across broad segments of the U.S. and global economies. Oak Hill Capital applies an industry-focused, theme-based approach to investing in the following sectors: Consumer, Retail & Distribution; Industrials; Media & Communications; and Services. Oak Hill works actively in partnership with management to implement strategic and operational initiatives to create franchise value. For more information, please visit http://www.oakhill.com.
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm currently investing Riverside Fund VI, L.P. The fund focuses on growth-oriented companies primarily in the healthcare and technology industries. Riverside Partners is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. For more information, visit http://www.riversidepartners.com.