Merion Portfolio Company Closes on AcquisitionDatabank Announces Acquisition of Information Access Systems, Inc.
Svoboda Press Release
Chicago, IL – November 2, 2011 – Databank IMX, LLC (“Databank” or the “Company”), a portfolio company of Svoboda Capital Partners LLC (“SC”), is pleased to announce the acquisition of Information Access Systems, Inc. (“IAS”). The transaction is the first add-on acquisition for Databank since SC invested in January 2011. Specific terms of the transaction were undisclosed.
Headquartered in Orlando, Florida, with an additional office in Kansas City, Missouri, IAS is a leading systems integrator specializing in enterprise content management solutions. IAS is an OnBase Platinum Reseller and Hyland Software Diamond Support Partner, helping clients automate their business processes and manage content.
Post transaction, IAS will continue to operate from Orlando and Kansas City as DataBank. IAS President David Godiksen and IAS Vice President Kevin Gregory will join the shareholders and management team at Databank.
“The team at IAS broadens our ECM systems business, and expands the technology offerings we have for our shared services/BPO clients and prospects. IAS has been a leader in delivering data extraction technology to its clients via its relationship with IBM and DataCap.” said Fred Zaeske and Chuck Bauer, CEO and COO of Databank, respectively. “Their team of talented professionals and great client base was a primary consideration in addition to our desired expansion in the Southeast and Midwest U.S. markets.”
About Databank IMX LLC
Headquartered in Beltsville, Maryland, Databank is a leading full service provider of outsourced imaging and information solutions, including document scanning, indexing, physical and electronic document storage, and software to manage information. The Company operates a nationwide network of BPO imaging production centers with locations in Maryland, Massachusetts, Indiana, Texas, Louisiana and California. Across this network, Databank serves clients in several verticals, including Healthcare, Education, Oil/Gas, and Government sectors, and also provides Shared Services (e.g. accounts payable processing, HR/pension records) across various industries. For more information, please visit www.databankimx.com
About Svoboda Capital Partners LLC
Svoboda Capital Partners LLC is a Chicago-based private equity firm with over $250 million of capital under management. Founded in 1998, SC identifies, invests in and helps build excellent businesses in its targeted business niches: business services, value-added distribution, and consumer products. SC typically makes investments of $10 to $20 million per company as the sole investor or in partnership with other private equity firms. For more information, please visit www.svoco.com