A Montreal-based maker of supply chain software has acquired an Ontario firm that creates applications for the industrial distribution sector.
TecSys Inc. said it spent $1.4 million to purchase Streamline Information Systems Ltd., based in Brantford, Ont. The latter’s flagship product, Virtual Streamline, helps industrial firms handle sales orders, inventory and their finances. It was founded in 1985.
A statement from TecSys said its management hopes the acquisition of Streamline will open up more opportunities within the small and medium-sized business segment of the U.S., where Streamline has seen considerable success.
The companies did not indicate if there would be any layoffs or changes in product roadmap following the acquisition.