gen-E Receives Strategic Equity Investment from Solis Capital Partners to Accelerate Global Adoption of IT Process Automation Software
Investment to Focus on Fueling Research and Development, Channel Expansion and Worldwide Growth
San Clemente, Calif. – March 19, 2012 – gen‐E (formerly generationE Technologies), a global IT process automation (ITPA) software company, today announced it has received a private equity investment from Solis Capital Partners, a lower middle‐market private equity firm located in Southern California. Terms of the transaction were not disclosed.
Best known for its award‐winning Resolve Social™ITPA software, gen‐E has grown exponentially over the past few years. The investment comes on the heels of record yearover‐year results in 2011 including a 100 percent growth in profit, 40 percent increase in revenue and 66 percent increase in headcount.
In 2012, the Company plans to fuel further growth through a new Worldwide Channel Partner Program. With the addition of global partners across North America, Europe, Australia, South America and Southeast Asia, gen‐E anticipates making further inroads into markets such as utilities, finance and telecommunications.
"gen‐E’s leadership team has successfully orchestrated a market‐leading ITPA platform while laying the groundwork for an expanded worldwide partner network,” said Craig Dupper, Partner of Solis. “We look forward to partnering with gen‐E to pursue exciting growth opportunities ahead, building upon the Company’s leading market position."
Adds Casey Kindiger, gen‐E’s CEO, “Joining the Solis portfolio introduces new opportunities for growth and R&D. The investment will ensure our Resolve Social™ITPA platform and complementary solutions and services remain at the forefront of market innovation. We look forward to showcasing how this investment will benefit our customers and partners for years to come."
gen‐E Resolve was first launched in 2009. It combines automation with social mediapowered collaboration and knowledge management capabilities to help companies break down traditional organizational and process constraints, save costs and find more time for innovation.
According to the August 2011 report, "The Use of Social IT Management (ITM) Tools and Technologies for IT Operations Is Embryonic, but Growing,” by Gartner Research Vice Presidents Cameron Haight and David M. Coyle, “social ITM tools fill a critical collaboration gap in existing IT operations management (ITOM) and IT service management (ITSM) product portfolios, enabling peer information exchanges and the codification of unstructured processes.
The investment in gen‐E represents the first platform acquisition for Solis Capital Partners (Solis II).
Find gen‐E on Twitter at http://twitter.com/genE_info.
About Solis Capital Partners
Solis Capital Partners is a lower middle‐market private equity firm located in Southern California. Focusing on leadership and business fundamentals, Solis prefers software, business service, manufacturing and value‐added distribution companies in large, highly fragmented markets. Solis consistently has generated superior investment returns through multiple business cycles. The firm is actively investing through its second fund, Solis II. For additional information, see www.soliscapital.com.
gen‐E is an IT process automation (ITPA) software company that places human ingenuity at the forefront of workplace activity. The company’s award‐winning Resolve™ software breaks down traditional organizational and process constraints through an innovative approach to automation. Powered by actionable and dynamic knowledge management capabilities, Resolve allows organizations to realize cost savings of as much as 200 percent within months of deployment. For more information, please visit www.gen‐e.com.