Fresche Acquires The Quadrant Group to Become Driving Force for IBM i Modernization

MONTREAL, QUEBEC and BOSTON, MASSACHUSETTS--(Marketwired - June 9, 2016) - Application modernization and management solutions provider Fresche today announced it has acquired Quadrant LLC, a leader in application modernization, mobile development, business intelligence and document distribution solutions and services. The combination of these companies distinctly positions Fresche as the leader in providing value and solutions for IBM i customers, second only to IBM. The transaction, which closed on June 3, 2016, was supported by Fondaction CSN, Fonds de solidarité FTQ and Bank of Montreal.

Quadrant brings to Fresche proven solutions focused on helping companies maximize their investments in IBM i, z/OS and Avaya platforms, operating under the market-leading brands Quadrant Software, BCD, NetLert, SoftBase and ExcelSystems.

With more than 150,000 clients worldwide, the IBM i platform (formerly AS/400, iSeries, System i) is considered a strategic 'workhorse' within the enterprise, and a high value component of IBM's Power Systems business. However, organizations are struggling with maintaining and evolving their aging applications and face a shortage of skills due to a retiring workforce. By joining forces with Quadrant, Fresche addresses these urgent challenges with the broadest portfolio of IBM i solutions, services and expertise in the market.

"With a 100 percent focus on helping customers achieve their IT goals, our solutions enable customers to better understand, leverage and extend the value that resides within their IBM i applications and systems. We are thrilled to welcome all of the amazing and incredibly talented people joining us from The Quadrant Group who share the same commitment," says Andy Kulakowski, President and CEO of Fresche.

Fresche is the one place customers can turn for all their IBM i application needs, including strategy and planning, analysis and productivity tools, application modernization solutions, value-added services and skilled resources. The solutions help organizations take advantage of modern computing practices and technologies, such as Web, mobile and open source to improve business processes and develop customer-facing and revenue-generating applications. These technologies also help attract new developers. Users benefit from the expertise that has been gained from over 40 years of serving a combined client base of 22,000 global companies, including household brand names as Adidas, Avon, CVS, Royal Caribbean Cruise Lines, Staples and Universal Music Group, among others.

"All of us at The Quadrant Group are pleased to join Fresche, a company as passionate about IBM i as we are," says Stephen Woodard, CEO of Quadrant Software and Fresche's newly appointed Chief Revenue Officer. "The significant resources and technologies at Fresche allow us to further invest in our customers, partners, employees, solutions and our future. Companies around the world with a strategic investment in IBM i can look ahead with confidence, safe in the knowledge they have a clear path forward with Fresche/Quadrant as their partner."

"Companies that rely on older applications are often unsure how to face the modernization challenge," says Andy Kulakowski. "By following our low-risk, phased approach and using our proven solutions, they'll succeed and see an immediate return on their investment. Our mission is to become the trusted go-to partner who helps customers maximize the value of their IBM i. We now have everything in place to make that happen."

The financial terms of the agreement are not disclosed.

About Quadrant

Quadrant helps organizations maximize their investment in the IBM i, z/OS and Avaya platforms. Businesses rely on Quadrant's leading application modernization, mobilization, business intelligence and document distribution solutions and services to manage, develop, and deliver critical business applications and artifacts.

www.thequadrantgroup.com

About Fresche

Fresche specializes in helping companies achieve their IT and business goals by better managing and evolving their IBM i applications. Companies can count on Fresche for complete application management and modernization solutions, including planning and analysis, application and database modernization, development and deployment, staff augmentation, complete project management and ongoing application services. Companies running RPG, COBOL, CA 2E SYNON and Java applications rely on our comprehensive, automated solutions that optimize IBM i systems and help take advantage of Web & Mobile Solutions.

www.freschelegacy.com

About Fondaction CSN

Fondaction invests in Québec-based SMEs in order to help create and maintain jobs in Québec from a sustainable development perspective. It manages assets of close to $1.4 billion in retirement savings from more than 128,000 shareholders. Through its investments or its commitments, made either directly or through its partner or specialized funds, Fondaction supports the development of over 950 SMEs that make a distinctive contribution to Québec's social and economic development, including a number of social economy enterprises.

www.fondaction.com

About the Fonds de solidarité FTQ

With net assets of $11.1 billion as of May 31, 2015, the Fonds de solidarité FTQ has become a hub of knowledge and resources for Quebec businesses and a key player in the local economy. Created in 1983, the Fonds de solidarité FTQ is a development capital fund that calls upon the solidarity and savings of Quebecers to help fulfill its mission to contribute to Quebec's economic growth by creating and protecting jobs through investments in small and medium-sized businesses in all spheres of activity. The Fonds is a partner, either directly or through one of its network members, of more than 2550 companies. With 610,605 shareholder-investors, the Fonds has helped create, maintain and protect over 176,000 jobs.

www.FondsFTQ.com