Prometheus Group Announces Acquisition of VIZIYA From Quarterhill, Inc.
Prometheus Group, a leading global provider of asset management operations and optimization software, announced today that is has acquired VIZIYA, a developer of enterprise asset management software, from Quarterhill Inc. (TSX: QTRH).
VIZIYA designs and develops bolt-on software products for its marquee customer base to enhance enterprise resource planning-based asset maintenance systems. The company’s WorkAlign Suite is designed to enhance its customers’ system rather than replace it. The Company’s products (with a focus on asset criticality, urgency, and compliance) are used in various industries around the world to drive cost savings, productivity, uptime, and reliability.
Eric Huang, Founder and Chief Executive Officer of Prometheus, said, “The addition of VIZIYA will enable Prometheus to extend our global reach and customer universe. VIZIYA’s expertise in the Oracle and Infor ecosystems will allow us to branch into new and exciting territory and even further diversify our customer composition. Prometheus looks forward to working with VIZIYA’s strong management team to conquer the asset management space.”
Eli Weiss, Managing Director of Genstar Capital, which acquired Prometheus in May of 2019, commented, “Prometheus is one of the rare companies that is able to grow and expand during this challenging time. It is encouraging that Genstar’s approach to helping its portfolio companies source and complete add-on acquisitions can be successful in this environment. Genstar is excited to continue to support Prometheus in the combination of these two strong companies.
Eric and his team are continuing to build this business and create an even stronger company that provides its customers with an enhanced set of solutions.”
Genstar acquired Prometheus Group in 2019 for over $1 billion and VIZIYA represents the fourth completed acquisition since Genstar’s investment. Prometheus also recently acquired WorkTech, a U.S.-headquartered provider of contractor management and productivity solutions; U.K.-based Engica, provider of maintenance and safety management software; and Roser ConSys, provider of innovative plant shutdown, turnaround, and outages software based in the Netherlands.
District Capital Partners acted as the buyside advisor to Prometheus Group.
Headquartered in Hamilton, Ontario, with offices in Houston, Atlanta, Greenville, Newport Beach, Madrid, Frankfurt,
Pretoria, Cape Town, Brisbane, and Perth, VIZIYA is the industry leader providing bolt-on software products to enhance ERP-based asset maintenance systems, delivering seamless integration and improving every stage of the maintenance process. Visit www.viziya.com
About Genstar Capital
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $19 billion of assets under management and targets investments focused on targeted segments of the financial services, healthcare, industrial, and software industries.
About Prometheus Group
Prometheus Group is a leading global provider of comprehensive and intuitive plant maintenance operations and optimization software, with a broad platform of solutions addressing the unique idiosyncrasies and requirements of heavy asset operators. Prometheus’ interconnected platform allows changes to be communicated in real-time across an organization, improving manpower efficiency and driving production uptime.