Visiprise Inc and HMS Software Inc are to merge and trade under the Visiprise name in a deal they claim will make the combined company an industry leader in delivering integrated manufacturing operations software.
The combined Atlanta, Georgia-based company will have more than 270 employees and more than 200 customers, including BAE Systems, Boeing, Honeywell, Lockheed Martin, Nokia Networks, and Solectron.
HMS Software targets the aerospace and defense industry while Visiprise’s J2EE software is used in the high-volume electronics industry. Visiprise CEO Sean McCloskey said manufacturers will now be able to use the company’s software to build everything from thousands of circuit boards to complex jet engines.
To finance the deal, Visiprise closed a $32m round of new financing led by Investor Growth Capital and Westbury Partners. It also included current investors RRE Ventures, Morgan Stanley Venture Partners, Canaan Partners, Wheatley Partners, and Entrepreneurs’ Growth Fund.
While both privately held companies have the appearance of start-ups, Visiprise claims more than 18 years of industry experience and HMS Software was founded in 1992.