SAN FRANCISCO–(BUSINESS WIRE)–October 26, 2017–
Sverica Capital Management LLC (“Sverica”), a private equity investment firm, announced today it has reached an agreement to sell Syscon Justice Systems Ltd. (“Syscon”) to N. Harris Computer Corporation (“Harris”), a wholly-owned division of Constellation Software Inc. (TSX: CSU) (“Constellation”). Based in Richmond, British Columbia, Syscon is a provider of Offender Management Systems (OMS) to various county, state, and national governments throughout the world.
Sverica acquired a majority interest in Syscon in July 2010. Over the course of its investment, Sverica recruited a new management team and invested in technology modernization efforts which have allowed Syscon’s feature-rich solutions to be deployed at top-end corrections agencies and manage over 400,000 offenders globally.
Jean (John) Soucy, President of Harris’ Public Sector Group, commented, “The acquisition of Syscon expands our capability to serve correctional institutions across North America, the United Kingdom and Australia. We are excited to have the opportunity to bring forth such comprehensive OMS applications, thanks to Syscon’s global team of specialists.”
June 5th: The AI Audit in NYC
Join us next week in NYC to engage with top executive leaders, delving into strategies for auditing AI models to ensure fairness, optimal performance, and ethical compliance across diverse organizations. Secure your attendance for this exclusive invite-only event.
“Sverica has been a tremendous partner to Syscon as we continue to build market leading Offender Management software solutions for governments throughout the world,” said Syscon CEO Mark Derraugh. “The support and guidance provided by Sverica has positioned us well for future success with Harris.”
About Syscon
Syscon is a leading international provider of Offender Management Systems, with major deployments in the US, Canada, UK, and Australia. Syscon offers a full suite of solutions, including prison management, jail management, trust accounting, inmate health records, probation and parole monitoring, and risk assessment tools. For more information, visit http://www.syscon.net/.
About Sverica Capital Management
Sverica Capital is a leading lower-middle-market-focused private equity firm that has raised over $700 million of investment capital across four funds. The firm acquires and actively builds companies that are, or could become, leaders in their industries. Since 2001, Sverica Capital has maintained a “high touch” operating philosophy of taking an active role in portfolio companies. Sverica Capital devotes significant internal resources to help its management teams develop and execute growth strategies. For more information, please visit www.sverica.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171026006307/en/
Sverica Capital Management
Nathalie Allen, 415-249-4906
nathalie@sverica.com
