Strattam Capital Partners With Rock Solid Technologies to Expand in North America
CLEVELAND, November 29, 2018 (Newswire.com) - Rock Solid Technologies (Rock Solid), a leading software and IT services company in Puerto Rico and the Caribbean; today announced a majority growth investment from Strattam Capital. The investment will enable Rock Solid to accelerate growth in the North American market.
The transaction was facilitated by IT ExchangeNet, America’s leading mergers & acquisitions firm for Microsoft channel partners.
Beginning with only a handful of employees in Austin, TX in 1994, Rock Solid has grown exponentially, accelerating their employee count to 134 and expanding to five locations. Servicing more than 25 countries, Rock Solid specializes in delivering Microsoft Dynamics 365 solutions to both the public and private sectors. With Strattam’s financial partnership, Rock Solid will create 100 new jobs in Puerto Rico during the next five years within software engineering and information systems consulting.As we took Rock Solid to market, close to 50 financial and strategic partners expressed interest in learning more about the business. But following our disciplined process, it became evident that Strattam's long-term vision for Rock Solid matched incredibly well.
"During the past few years, and more significantly in the past four months, Rock Solid has been growing outside Puerto Rico. Just a few weeks ago, we announced wins in key cities in Canada and the United States. With the support of Strattam Capital, we are confident that in the next few years Rock Solid, which has been developing software solutions in Puerto Rico for the past 15 years, will become a top player in the global market" said Richard C. Brown, Rock Solid’s president.
“Through their deep domain expertise, Rock Solid software enables government agencies to better serve their citizens,” said Strattam Capital Managing Partner Bob Morse. “We are impressed with the leading engineering capabilities they have built and are excited to be investing with the Rock Solid leadership team to help bring these products to a wider audience across the U.S. and Canada.”
Tim Mueller, CEO of ITX, said, “As we took Rock Solid to market, close to 50 financial and strategic partners expressed interest in learning more about the business. But following our disciplined process, it became evident that Strattam’s long-term vision for Rock Solid matched incredibly well.”
"This company, highlighted by the development of high-quality software solutions for clients from the public and private sectors, is undoubtedly an example of how a Puerto Rican company can evolve and reach new markets in the United States, Central America and Canada. Its continued success should serve as an example for new companies that seek to maximize their services," said Governor Ricardo Roselló Nevares.
About Rock Solid Technologies
Rock Solid Technologies was founded in Texas in 1994 with five employees. Four years later, Rock Solid became a Microsoft Partner and then excelling to a Microsoft Gold Partner & MBS Partner in 2003. Rock Solid Technologies is a software product research and development company that provides the highest quality software solutions for public and private customers in the Caribbean, the USA, and Latin America. Being recognized as a leading provider of custom-made applications using Microsoft Dynamics Business Applications, Rock Solid specializes in Dynamics 365, tools including CRM, AX, GP, and more. For more information about Rock Solid Technologies, visit https://www.rocksolid.com.
About Strattam Capital
Strattam Capital is a private equity firm with locations in San Francisco, CA and Austin, TX that makes majority equity investments in business IT companies based in the U.S. and Canada. Focused on companies that have a strong presence in the market and valuable product, Strattam adds the resources to help their investments scale properly. Strattam Capital now has five companies in their portfolio and invests in three main categories: Enterprise Software, Digital Infrastructure, and Technology-Enabled Services. For more information about Strattam Capital, visit: https://strattam.com.
About IT ExchangeNet
Founded in 1998 by technology CEOs and M&A professionals, IT ExchangeNet is an organized and efficient marketplace for owners of mid-market IT businesses seeking buyers or strategic partners. IT ExchangeNet follows a disciplined and highly targeted process, bringing buyers and sellers together in the IT space.
IT ExchangeNet owns a network of more than 50,000 global IT decision makers. Focusing on smaller companies that are historically ignored by large investment banks and M&A advisors, IT ExchangeNet leverages industry knowledge and relationships to work with companies that are ready to be sold, and buyers that are ready to buy. Specific segments of the IT industry served to include: Managed IT Services, Software as a Service (SaaS), Hosting, Infrastructure as a Service (IaaS), CyberSecurity, IT Services, Software Development, and Big Data.
To learn more about IT ExchangeNet, please visit: www.itexchangenet.com
Source: IT ExchangeNet
Categories: Information Technology