COSTA MESA, Calif., Aug. 24, 2006 (PRIMEZONE) -- eCommerce Industries Inc., a privately held developer of industry-specific business operations software located in Reston, Va., has acquired Britannia Inc., a privately held office products software developer located in Fort Wayne, Ind. Transaction terms were not disclosed.
RSM EquiCo Capital Markets initiated the transaction, led the negotiations and acted as exclusive financial advisor to Britannia.
"The acquisition of Britannia is an important and integral part of eCommerce Industries' overall growth strategy," said Brian Boyle, managing director of RSM EquiCo Capital Markets. "This acquisition solidifies eCommerce's position as the dominant software and automated office products provider in the United States and creates a tremendous platform it can leverage to obtain an even greater market share. It also provides synergies that support growth in the company's other major business segments."
About RSM EquiCo Capital Markets
RSM EquiCo Capital Markets (www.rsmequico.com) is a global provider of investment banking services to private companies with annual revenues of up to $500 million. The firm brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives. RSM EquiCo Capital Markets LLC is licensed by the SEC and all state securities authorities, and is a member of the NASD and SIPC.
RSM EquiCo Capital Markets, a subsidiary of RSM EquiCo Inc., is part of RSM McGladrey Inc., one of the nation's largest providers of business and tax consulting, wealth management, retirement resources and payroll services to midsized companies.
The firm's international headquarters are located in Costa Mesa, California. It also has offices in Chicago, Boston, New York and London.
About Britannia Inc.
Britannia Inc. is a software developer and application service provider for the office products industry. The company's core software enables downstream distributors to compete more effectively with larger industry participants. By connecting to upstream wholesalers and manufacturers, Britannia provides real-time inventory and price checking.
About eCommerce Industries Inc.
eCommerce Industries Inc. is a premier developer of industry-specific business operations software. Through the development and application of leading edge technologies, the company is providing large-scale innovation for small to medium-sized businesses. eCommerce provides specialized information technology solutions for dealers, distributors, and their suppliers in many industries, including office products, janitorial/sanitary products, industrial paper and packaging, contract office furniture, business machines, computer products, educational and art supplies, and general wholesale distribution. The company's software is in use at over 2,000 independent businesses in the United States, Canada and the United Kingdom.
RSM EquiCo is a tradename for RSM EquiCo, Inc. and its subsidiaries, which include: RSM EquiCo Capital Markets, LLC (broker-dealer licensed by the SEC and member NASD, SIPC), RSM EquiCo Canada, Inc. (limited market dealer registered with the Ontario Securities Commission) and EquiCo Europe Limited (authorised and regulated by the Financial Services Authority). RSM EquiCo, Inc. and its subsidiaries are wholly owned subsidiaries of H&R Block.