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Soltre Technology
The Company
Since 2000, Soltre Technology, Inc. has provided end-to-end application outsourcing and professional information technology services for the entire suite of Oracle applications, to both emerging and global businesses. Soltre offers a Tier-1 solutions suite, consisting of systems infrastructure, best-of-class business applications, and customer support, previously available only to large corporations. Applications include enterprise resource planning (ERP), eCommerce, customer relationship management (CRM), and business intelligence applications all incorporating “best practices” business processes.
“The KPMG Corporate Finance team found us the perfect partner. KPMG was given a period of time to identify potential strategic merger partners, help negotiate terms and assist in concluding the transaction with the buyer. KPMG’s knowledge of the market space and its personal relationships with IT services firms made the merger a reality. They performed exceptionally well.”
The Situation
The owners of Soltre were seeking liquidity at a valuation that reflected the company’s significant growth prospects and profitability, as well as a relationship with a strategic partner that could further expand the reach of the company’s customer base.
The Transaction
KPMG Corporate Finance conducted a comprehensive transaction process to identify RCM Technologies, Inc. as a partner that would offer the greatest combination of value and strategic fit for Soltre. RCM Technologies, based in Pennsauken, New Jersey, provides information technology services, specializing in software and system engineering, to leading global enterprises. RCM was interested in Soltre for its expertise in Oracle application solutions and its customer base in the West Coast of the United States. KPMG Corporate Finance successfully leveraged its extensive understanding of the industry, experience conducting middle market transactions, and strong relationships with strategic buyers to identify this ideal counterparty. Following an aggressive timeline, the transaction was completed within a time frame and with an appropriate transaction value to meet the owners’ objectives.
