Spinnaker Buys Versytec’s Third-Party JDE Support Business
March 13, 2012 Alex Woodie
Spinnaker Support bolstered its position in the market for third-party JD Edwards support services last week when it announced the acquisition of its competitor in the space, Versytec.
Nashua, New Hampshire-based Versytec was one of the first companies to enter the market for third-party JDE support services way back in June 2004. By 2005, the company had about 30 JDE customers, mostly World shops, the company told IT Jungle at the time.
Eventually, Versytec owners decided to sell the business, and Spinnaker looked like a promising new owner. “When we looked at companies to approach regarding a sale, Spinnaker Support was top of mind,” CEO Steve Striebel says in a press release. “We wanted to be sure we turned the reins over to a JD Edwards support leader that has a reputable intellectual property policy and approach, and a company that provides sure footing for our many customers.”
Denver, Colorado-based Spinnaker Support, which threw its hat into the JDE ring in 2008, has grown its JDE support business quickly. With the addition of Versytec’s customers, the company says it now has more than 100 customers.
Spinnaker CEO Matt Stava says his company’s services are well suited to the needs of Versytec customers. “The addition of Versytec’s assets and customers significantly enhances our position within the JD Edwards third-party support maintenance market,” Stava says in a press release. “This acquisition solidifies Spinnaker Support’s presence in the industries we serve across the globe.”