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Cloud solution provider purchases leading marine transportation software company.
Houma, LA (PRWEB) March 20, 2013
Verticalive Inc., a leading provider of vertical cloud solutions and development technologies for entrepreneurs and enterprises, announced that it has acquired MarineCFO, the leading provider of enterprise software solutions to the marine transportation industry. The acquisition closed on March 15.
“MarineCFO is an industry-leading solution that is built on the Verticalive Business Framework (VBF),” said Matthew DeVoll, president and CEO of Verticalive. “The product has been successful because it combines industry-specific functionality with best-in-class enterprise accounting for global marine transportation customers. As a result, MarineCFO has been able to attract many of the top companies in the workboat industry. MarineCFO is a marquee example of the kind of products and companies we are building with the VBF.”
Verticalive believes that its unique combination of development architecture, which enables rapid creation and deployment of enterprise applications on Microsoft cloud platforms, and world-class accounting that descends from Advanced Software Development’s UA Business Software, positions the company to become the new standard in operating models for software businesses. With one underlying technology platform and operations infrastructure, Verticalive will create enormous operating leverage across a portfolio of software businesses.
“The Verticalive Business Framework supports a variety of deployment models: public cloud, private cloud, hosted on-premise, and pure on-premise. As more and more businesses migrate from legacy technologies, Verticalive will be well-positioned as the preferred development technology for entrepreneurs and enterprises building vertical solutions,” DeVoll said. “In addition, we will operate a portfolio of our own software companies with solutions that are built on the VBF. That group of companies will benefit from a highly profitable operating model based on shared development technology, shared customer and technical support methods and organizations, and certain other shared services.”
Brent Stankowski, President, CEO, and Chairman of MarineCFO, said, “We are delighted to see MarineCFO become part of the Verticalive business. We know that our customers will benefit from the continuity of service that this transaction ensures, and we are pleased that our employees will be part of an organization with ambitious growth objectives and a clear need for their industry and technical domain experience. We expect our customers to benefit from increased investment in the Marine software business as Verticalive continues to grow.”
VerticaLive is a leading provider of development technology for Microsoft platforms. The VL Business Framework enables rapid development and deployment of private or public cloud applications, virtual hosted solutions, or on-premise solutions. Verticalive works with new cloud ventures and established IT organizations to help more non-tech domain experts and fewer software developers create enterprise class applications. The company recently completed a Series A financing, which was led by Investment Partners LLC. Verticalive is headquartered in Houma, Louisiana, and has offices in Los Angeles, Calgary, and London. (http://verticalive.com)
MarineCFO is the leading provider of On-Vessel, Marine Operations, Personnel, Fleet Maintenance, and Financial Management solutions to the marine transportation industry. The company was founded in 2007. (http://marinecfo.com)
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