January 10, 2014 – AFS Technologies Inc., the leading provider of integrated business software solutions for Consumer Packaged Goods (CPG) and Food & Beverage verticals, has completed the acquisition of Visicom, a leading provider of Retail Execution and Direct Store Delivery (DSD) solutions in Europe. The acquisition of Visicom provides AFS Technologies with a cost-effective European operating center located in Bratislava, Slovakia as well as the addition of Visicom owners, Jozef Sovcik and Macko Heliodor, to the company’s senior management team.
“The addition of Visicom to AFS provides enhanced functionality and additional operating efficiencies globally,” said Kurien Jacob, CEO of AFS Technologies. According to Mr. Jacob, the addition of Visicom and its impressive roster of CPG clients represent a meaningful European expansion for AFS Technologies.
“We were looking for a partner who would complement us both geographically and product wise. AFS is the perfect fit.” noted Jozef Sovcik, CEO of Visicom. “The combination of AFS Technologies and Visicom will greatly expand the variety of mobility solutions and technology support available to the global supply chain.”
Madison Park Group acted as advisor to AFS Technologies on this transaction.
About AFS Technologies, Inc.
AFS Technologies, Inc. is the leading provider of business enterprise and on-demand software solutions designed to meet the unique requirements of the Consumer Packaged Goods, Food and Beverage, and Financial segments. With over 25 years of industry experience, the global company now serves over 1,500 customers in more than 40 countries with cutting edge technology designed to optimize the order-to-cash flow cycle and improve efficiencies across the entire supply chain. AFS solutions are utilized by manufacturers, distributors, broker/sales agencies, third party logistics providers and retail operators. These industry trading partners rely on AFS technology applications to automate business processes, optimize trade promotion management, reduce costs, increase sales and margin performance, support regulatory compliance, enhance field salesforce efficiencies, and drive collaborative commerce through data synchronization. All AFS solutions utilize service-oriented architecture (SOA) built with Microsoft .NET framework technology. AFS solutions interface with existing non-AFS systems and offer true deployment flexibility that allow customers to upgrade specific elements of the software without affecting the rest of the system. AFS products are also available as fully integrated end-to-end solutions or as individual modular applications. AFS offers customers true deployment flexibility through traditional licensing or subscription-based programs, from on-premise to on-demand solutions in the cloud. For additional information, please visit www.afsi.com or call (602) 522-8282.
Visicom is an innovative global provider of mobile software solutions for sales organizations covering Presales, Merchandising and Direct Store Delivery (DSD). Its extensive technology portfolio and experience in developing, deploying and managing mission-critical business applications empowers thousands of field sales professionals around the world. Visicom serves more than 10,000 users in over 30 countries enabling mobile users to interact with their critical applications, facilitate and optimize workforce productivity, enable corporate efficiency, and enhance customer service.
About Madison Park Group
Madison Park Group is an investment banking firm focused on advising technology and business services companies on M&A transactions and fundraisings. Madison Park Group has closed over 100 transactions for fast growing companies in a range of sectors including enterprise application software, SaaS, security & infrastructure, new media, digital marketing, eCommerce and tech-enabled services. For more information, please visit www.madisonparkgrp.com.