Indus International Inc., a leading service delivery management solution provider, MDSI Mobile Data Solutions Inc., the worldwide leader in enterprise mobile workforce management software, and Vista Equity Partners, a $1 billion private equity investment firm based in San Francisco, on January 9 announced the completion of the merger of Indus and an affiliate of Vista under an agreement and plan of merger, dated as of October 20, 2006.
Under terms of the agreement, Indus has been acquired by the affiliate of Vista in an all-cash transaction valued at approximately $240 million and will be combined with MDSI, a Vista portfolio company. The newly combined Indus and MDSI unites the leading provider of best-of-breed customer, asset and field service management solutions with the dominant player in enterprise workforce management, resulting in a comprehensive and robust suite of SDM solutions. The stockholders of Indus will receive $3.85 in cash in exchange for each share of Indus stock.
Greg Dukat, president and CEO of Indus International, will now serve as CEO of the combined company. According to Dukat, "The union of Indus and MDSI truly changes the landscape of the service delivery management market. No other vendor can offer the breadth and depth of best-of-breed enterprise asset management, customer management and enterprise workforce management functionality that our new company now delivers. Furthermore, we are perfectly positioned to further grow our global client base which includes 50 percent of the top 10 cable service providers and 90 percent of the top 20 utility companies in North America, as well as some of the world's largest telecommunications companies.”
Vince Burkett, MDSI's president and CEO, will now serve as chief operating officer of the new company. Burkett added, "The combination of Indus and MDSI uniquely positions the new company to offer the market's most robust end-to-end solution for service delivery management. Together we will provide proven solutions that empower utility, communications and other commercial field service organizations to maximize efficiencies in their customer relationships, facilities and field service operations.”
Corporate headquarters for the new company will reside in Atlanta. The company will maintain its satellite offices in the United States, Canada, Europe and Asia-Pacific.
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