Francisco Partners Acquires Smith Technologies (rebranded as RedSail Technologies)
March 2, 2020
Francisco Partners has signed a definitive agreement to acquire Smith Technologies, a wholly owned subsidiary of J M Smith Corporation; the company will be rebranded as RedSail Technologies. Terms were not disclosed; Francisco Partners says the investment will provide capital to accelerate growth, expand market share and geographic footprint as an independent business. Kraig McEwen will join as CEO and the company will continue to operate its QS/1, Integra and PUBLIQ product families from its Spartanburg, South Carolina headquarters.
- Buyers
- Francisco Partners
- Targets
- Smith Technologies (rebranded as RedSail Technologies)
- Sellers
- J M Smith Corporation
- Industry
- Software
- Location
- South Carolina, United States
- Transaction Type
- Buyout
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