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Completed Transactions > Technology > Synergy has been acquired by JMI Equity

Synergy has been acquired by JMI Equity

Synergy

Date

Oct 2007

Region

Vermont

Generational Equity, a Dallas-based advisor to privately held, middle-market clients for mergers, acquisitions, divestitures and strategic growth, announced the sale of its client Synergy Software Technologies, Inc. of Burlington, Vt., to Harmony Information Systems, the industry-leading provider of software solutions for the health and human services (HHS) sector.

Synergy Software Technologies offers case management software to federal, state and local governments, allowing them to share and coordinate information with non-profit social service agencies and providers. The acquisition was funded by Harmony’s investors JMI Equity and Updata Partners. “We were very fortunate to have such accomplished clients,” said Dan Parrett, Generational Equity managing director in the transaction. “Our team worked with Synergy throughout the process to match it with another strong company in Harmony.

Synergy is now a part of a combined company with a great future of growth and profitability.” “The natural combination of Harmony and Synergy’s strengths unite an exceptional team of professionals with an expanded portfolio of on-demand software capabilities,” said Tonya Harmon, CEO, Harmony Information Systems. “This acquisition is an important part of Harmony’s overall industry leadership strategy in the growing HHS industry.” “We’re very lucky to have found a company like Harmony,” said Stan Eames, founder of Synergy Software Technologies. “Generational Equity helped us to find the best buyer for our company, while providing us with the best service and care possible.

” Synergy Software retained Generational Equity’s services after attending a seminar in June 2006. In March 2007, the company entered the market, after Generational Equity completed a full valuation of the company. Generational Equity marketed the company to strategic buyers and private equity groups in the U.S., resulting in a number of offers, and negotiated the transaction on behalf of Synergy Software less than one year after completing its initial valuation. The terms of the deal were not disclosed. About Harmony Information Systems Harmony Information Systems, Inc. offers the health and human services professions an integrated suite of software solutions, as well as comprehensive education and consulting services. Harmony’s Web-based information management framework is designed for organizations – public and private – that administer a broad array of programs or services. Harmony’s enterprise approach draws critical data from disparate data sources to create a single, fully integrated, consistent, and comprehensive client view, resulting in overall improvements in operational efficiency and effectiveness. For more information, visit www.harmonyis.com.

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