Montreal's Syntax Systems acquires German firm Freudenberg IT
IT consulting and services firm Syntax has acquired SAP cloud specialist firm Freudenberg IT (FIT). The transaction, financed by Syntax’s private equity parent company Novacap, greatly expands Syntax’s ability to provide SAP consulting and services, while extending its geographic footprint.
Founded in 1972, Montreal-based Syntax provides cloud and managed IT services to businesses across North America. The firm delivers enterprise resource planning (ERP) and tech solutions, as well as a combination of hardware, software, and cloud services to over 650 clients across all business segments on the continent. Syntax is an Oracle Platinum Partner, and has won numerous awards for Oracle JD Edwards implementation.
The firm’s consulting solutions center around Oracle JD Edwards Enterprise One, as well as Oracle E-Business Suite. Syntax’s team of tech consulting professionals have a long and strong track record of planning and implementing on-budget Oracle projects.
In addition to its Montreal headquarters, the IT firm has further offices in Toronto, New York, Somerset, NJ, Mumbai, and Hyderabad.
Syntax, a portfolio company of Montreal-based private equity firm Novacap, has now acquired German IT services company Freudenberg IT (FIT). The firm’s 850 professionals implement and manage SAP cloud applications for businesses in Europe, the Americas, and Asia – with a strong client base in the automotive and manufacturing sectors. Equity for the deal was provided by Novacap.
FIT is one of the premier SAP managed services firms, and has a long and storied relationship with the leading German ERP firm. According to FIT, the firm’s parent company Freudenberg Group started collaborating with SAP’s founders nearly 50 years ago.
FIT’s acquisition will expand Syntax’s managed services offering in the SAP market, making the firm a strong multi-ERP and cloud provider. The firm can now provide end-to-end solutions to global clients in both Oracle and SAP.
"The acquisition of FIT represents an ideal investment for Novacap leveraging Syntax's development as a global cloud service provider" commented Ted Mocarski, a Senior Partner at Novacap and Chairman of the Syntax Board of Directors. "FIT's strong position in the market represents an exciting growth opportunity for Syntax. We look forward to supporting and working with Syntax through this exciting part of its history."
Syntax CEO Christian Primeau added, "We are excited by the opportunity of joining forces with FIT and extending our reach to the SAP ecosystem. This acquisition will enable us to increase our presence in geographies we had previously targeted for growth, such as Europe and Asia."
"Their devotion to excellence combined with their expertise and strong customer focus and value for corporate social responsibility made it an obvious choice for Syntax."
The acquisition is slated to close later this quarter, subject to regulatory approvals.
