Baar-Zug, 12 July 2012
Partners Group and Silver Lake Sumeru to acquire Velocity Technology Solutions, a leading cloud solutions provider for ERP applications
Partners Group and Silver Lake Sumeru have signed a definitive agreement to acquire a stake in Velocity Technology Solutions on behalf of their clients. The transaction will close upon satisfaction of all closing conditions.
Velocity serves hundreds of enterprise customers in North America across a variety of industries. The company provides a highly reliable and scalable cloud-based hosting platform that allows customers to focus on their business without the complexity, cost and resource demands associated with managing and supporting mission-critical enterprise resource planning (ERP) applications. Velocity’s extensive knowledge base in ERP application functionality provides highly responsive support for all customer needs while helping enterprises realize the full potential of their ERP solutions.
Jennifer Haas, Senior Vice President at Partners Group, comments, "We are excited to invest in Velocity Technology Solutions, a leading company that is well-positioned to service an ERP marketplace that increasingly relies on the cloud and third-party service providers to optimize performance and reduce costs."