Whitehill Technologies, Inc. Acquires InSystems
06 Juin 2006 - 5:22PM
PR Newswire (US)
Whitehill purchases software business from Standard Register
MONCTON, NB, Canada, and DAYTON, Ohio, June 6
/PRNewswire-FirstCall/ -- Whitehill Technologies, Inc. today
announced that it has purchased InSystems, a wholly owned
subsidiary of Standard Register (NYSE:SR), a premier document
services provider based in Dayton, Ohio, United States. Financial
terms of the deal were not disclosed. "We believe that InSystems
will be better positioned for success as part of a software
company," said Dennis Rediker, Standard Register's president and
CEO. "InSystems is a recognized software technology leader with an
attractive customer base in the insurance market." "The combined
company's critical mass will be nearly 1000 customers strong,
including several hundred insurance companies and more than half of
the world's largest law firms," says Paul McSpurren, president and
CEO, Whitehill Technologies, Inc. "InSystems clients, products and
people will find a welcome home with Whitehill." Current InSystems
customers should expect business to continue without interruption.
There are over 500 person-years and $60 Million invested in R&D
between Whitehill and InSystems. The shared vision to build upon
the domain expertise, process knowledge and service delivery
success of the combined companies was a key driver of the
acquisition. Tom Eisenhauer, chairman of Whitehill Technologies,
Inc., and managing partner of Latitude Partners, agreed the deal
made sense for everyone. "It is not often that an M&A
transaction happens for all the right reasons -- Standard
Register's commitment to doing the right thing is what made this
deal happen. We are very excited about Whitehill's continued
success as it positions itself for even greater growth." Some of
the key highlights of the combined company include: - Whitehill now
has nearly 1000 enterprise customers in 45 countries. - Whitehill
now has over 200 employees and offices in Canada (Markham, ON), the
UK (London), and the United States (Roanoke, VA), with its
corporate headquarters remaining in Moncton, New Brunswick, Canada.
- Whitehill products include offerings for insurance companies, law
firms and financial services organizations. Whitehill has already
started meeting with InSystems customers and will continue to do
so. Whitehill's advanced technologies, plus the increased scale of
the combined organization, should hopefully facilitate new
offerings above and beyond InSystems existing release plans. For
Whitehill legal customers, the extension of document process
oriented capabilities links well to the company's current offerings
in support of billing, reporting and data integration. "Our
commitment to customer satisfaction and technology innovation is
the core of our business success and we are excited about the new
possibilities this provides to our legal customers," said
McSpurren. About Whitehill Technologies Whitehill Technologies,
Inc. develops and implements proven software that accelerates
business communication by automating document creation, workflow,
and compliance. Our customers include over 700 large law firms and
insurance carriers in 45 countries. Whitehill has locations and
partners in the United States, United Kingdom, and the Netherlands.
Whitehill's technology partners include CA, Thomson Elite,
Microsoft, IBM and Interwoven. Whitehill is funded by private
equity firms Latitude Partners and GrowthWorks Canadian Fund. For
more information, please visit us at http://www.whitehill.com/ or
contact us at 1-888-944-8344. About InSystems InSystems specializes
in complex document and compliance automation for insurance and
financial services. InSystems IStream accelerates speed-to- market
by streamlining product development and regulatory filing
processes, and helps organizations achieve operational excellence
by automating the creation, management, and delivery of customized
documents. Founded in 1989, InSystems (http://www.insystems.com/)
has served more than 350 clients, including more than 50 of the 100
largest property/casualty and life/health groups in North America.
About Standard Register Company Standard Register (NYSE:SR) is a
premier document services provider, trusted by companies to manage
the critical documents they need to thrive in today's competitive
climate. Employing nearly 100 years of industry expertise, Lean Six
Sigma methodologies and leading technologies, the company helps
organizations increase efficiency, reduce costs, mitigate risks,
grow revenue and meet the challenges of a changing business
landscape. It offers document and label solutions, e-business
solutions, consulting and print supply chain services to help
clients manage documents across their enterprise. More information
is available at http://www.standardregister.com/. DATASOURCE:
Standard Register CONTACT: Jim Laffoley, Vice President, Marketing
& Business Development of Whitehill Technologies, Inc.,
+1-506-855-0005, or ; or Julie McEwan, Public Relations Manager of
Standard Register, +1-937-221-1825, or Web site:
http://www.standardregister.com/ http://www.whitehill.com/
http://www.insystems.com/
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