Sumeru Equity Partners (“SEP”) has just written a check for MDSL which make of Technology Expense Management products.
SEP said that the move will help provide MDSL with the cash it needs to growth, strengthening its position as a global TEM leader.
SEP also owns TEM provider Telesoft, has acquired MDSL based on its explosive growth rate, global reach, advanced technology platform, market leading customer service and high quality of employees.
SEP will combine its Telesoft investment into MDSL. SEP has owned Telesoft for nearly a year and has experienced strong success in growing the business and scaling operations. The combination of the MDSL and Telesoft organizations will increase scale and global delivery capability while continuing to emphasize the core value of outstanding customer service.
The two companies will be coming together under the MDSL brand. MDSL’s management team will be comprised of Chairman Ben Mendoza, CEO Charles Layne, CTO Simon Mendoza, CFO Tamara Saunders, COO Daman Wood and Chief Architect Thierry Zerbib.
MDSL Chairman Ben Mendoza said that “MDSL has been succeeding in winning world-class enterprise customers.
“We are surpassing significantly the growth rate of the TEM market, based on our outstanding customer service, advanced software platform and unique global capabilities. We have recognized that our new business growth would soon outpace our organic capabilities,” he said.
The company will operate under a single, global operational model and will offer two distinct software platforms targeted for two separate market segments-one serving global enterprises with a pure SaaS model and the other serving US-based organisations with a hybrid, on-premise license or managed services model. MDSL intends to maintain a commitment to both platforms with a distinct product roadmap that will last over 10 years, he said.
The transaction closed in July 2017 and financial details were not disclosed.