Private Investors Acquire Gemcom Software
May 12, 2008
Private equity firms JMI Equity and The Carlyle Group have agreed to acquire Canada-based specialized mining productivity software company Gemcom Software, for approximately $180m.
Gemcom has a presence in the major mining centers in more than 90 countries.
Brooke B Coburn, managing director and head of Carlyle Venture & Growth Partners, said: “Gemcom is an ideal fit with our investment strategy. It is a high-growth company with leading market share, providing compelling applications to the global mining sector.”
Gemcom reported a 12% increase in net income to CAD 1.7m ($1.68m), on revenue up 18% at CAD13.5m ($13.38m) for its third quarter 2008.