ASC Agrees to Acquisition by Mediagrif
Agreement primes ASC for accelerated innovation and growth in the CLM market
Ottawa, Ontario (May 18, 2016) — ASC (Advanced Software Concepts), a leading provider of SaaS and on-premise contract, document, form and configure, price and quote (CPQ) management solutions to SMBs and large enterprises, today announced that it has entered into a definitive agreement to be acquired by Mediagrif Interactive Technologies Inc. (TSX: MDF), a Canadian leader in e-commerce solutions. The definitive agreement is for Mediagrif to acquire all Advanced Software Concepts, Inc. (“ASC”) assets for a cash consideration of $18.5 million. The closing of the transaction is subject to certain standard conditions. Closing of the transaction is expected to take place on or about May 31, 2016.
“We are pleased to announce this transaction that provides significant growth potential and market acceleration for ASC,” said Shawn King, President and CEO, ASC. “This milestone is the next chapter in our 23-year history. With Mediagrif’s complementary expertise and financial strength to invest in ASC now and in the future, we will be better positioned to deliver innovative solutions that transform the contract lifecycle management industry and further enhance our abilities to deliver leading edge solutions across industries."
Mr. King continued, “We are also excited by the great culture and personal fit and the absolute synergy in vision and strategy. The transaction will benefit our valued customers and provide new opportunities for our employees.”
Well-known for its full feature contract management solution, ASC Contracts, ASC offers an equally robust set of business process optimization (BPO) and business process management (BPM) solutions that address document management, form management and pricing and quoting management as well as order tracking, invoice validation and verification, data retention, records management, etc. The extended portfolio is well suited for any industry (such as healthcare, government and education, communications, financial services, energy and utilities, legal services) and organizations of all sizes and process maturity and complexity.
ASC solutions are easily extensible with function- and industry-specific modules. They provide easy-to-use configuration options, seamlessly integrate with your existing business environment, and can be tailored to fit your organization’s unique contract and business process workflows. ASC solutions also include robust localization and regionalization capabilities including multi-language and multi-currency support as well as date and numeric formatting options making them well suited for global deployments.
ASC (Advanced Software Concepts Inc.) is a leading provider of cloud, Software as a Service (SaaS) and on-premise solutions for contract, document, form and configure, price and quote (CPQ) lifecycle management. Leveraging the proven ASC solution platform, ASC deploys tailored, customer-specific solutions that automate and streamline business process management requirements end to end. Features include a searchable online data repository, document generation, template library, workflow management, audit-ready history and reporting, esignature, image capture and support for a wide range of document types and processes. ASC solutions help organizations reduce costs, maximize revenue and minimize regulatory non-compliance risks. With extensive experience providing best practice solutions, ASC is an industry expert that works as a true partner to define and create unique business process management solutions for our SMB and large enterprise customers. ASC also provides solutions for order tracking, invoice validation and verification, data retention, records management, product configuration and sales configuration. For more information, please visit www.ascnet.com.
Advanced Software Concepts