ECi Software Solutions has announced it has acquired PrintFleet Inc. of Kingston, Ontario, Canada. PrintFleet is a developer of data-driven device management and assessment software solutions, as well as training, business development, and support programs for dealers, distributors, and manufacturers in the imaging industry. The company offers a range of solutions for every aspect of imaging device monitoring, maintenance, and management: PrintFleet LINK™, PrintFleet Vision™, PrintFleet Enterprise™, PrintFleet Corporate™, and PrintFleet QuickAssess™ software. Chris McFarlane will continue to serve as President of PrintFleet within ECi’s Field Service Division.
“Joining the ECi family of companies aligns with PrintFleet’s strategic initiatives, one of which is to achieve greater scale, affording us still more opportunities for growth,” said McFarlane. “As a recognized leader within the data collection and data utilization space, PrintFleet, with ECi’s support, now has greater capacity to assist our clients in bringing innovative solutions to the print industry.”
“ECi is committed to continuing to invest in the field service industry,” said Ron Books, CEO of ECi. “It is a quickly evolving industry and our goal is to provide the best technology available to help our customers stay competitive and profitable. Print and service management plays an integral role in this industry, and this acquisition gives us an expanded global footprint in print and service management. PrintFleet has a fantastic product portfolio and a dedicated team; we could not be prouder to have them join us in helping businesses achieve greater efficiency and expand their services.”
With the addition of PrintFleet, ECi serves more than 2,200 customers in field service and manages almost 10 million devices worldwide.
FirePower Capital served as the exclusive M&A advisor to PrintFleet regarding the transaction. Wildeboer Dellelce LLP served as legal counsel to PrintFleet with a team consisting of Rory Cattanach and Ragu Anantharajah. Bennett Jones LLP acted as legal counsel to ECi with a team comprised of Peter Westcott and Christopher Travascio (Corporate) and Philip Ward (Tax).
The first big acquisition of the year and it is indeed a sizable one. Consolidation on the software side of the business is nothing new and a company being acquired by ECi is certainly not a novelty either. We should have figured that something was up back in November and December when we were having a difficult time getting information from PrintFleet for our December/January issue. It all makes sense now.
We don’t expect this to be the last of ECi’s acquisitions as the software space consolidates even further. Now to see if another of the industry’s big software companies—Nuance—makes a similar move. After all, there are still quite a few software companies out there that are attractive acquisitions targets. If you're a dealer working with them and they're not aligned with either of these two big buyers, it's a distinct possibility that they may eventually join one of those two big software giants.
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