Audax Completes Add-On Acquisition for Help/Systems with Purchase of PowerTech
Audax, together with Help/Systems, Inc. (“Help/Systems”) acquired The PowerTech Group (“PowerTech”) from Bluestem Capital, Inc. and SeaPoint Ventures.
PowerTech, based in Kent, Washington, is a provider of security software applications to the System i platform. Products include solutions for network security, security audits, authority brokerage, and compliance monitoring, among others.
Audax acquired Help/Systems in September 2007 as a leading software company serving the IBM System i server platform market. The acquisition of PowerTech supplements Help/Systems’ product offering in the security software market. Audax will continue to work with management to execute a growth strategy focused on international markets, new product introductions, and strategic add-on acquisitions.
