Fresche Legacy, a premier provider of application management and modernization solutions for the IBM i announced today it has received a $6 million US (C $7.8 million) investment from the Fonds de solidarité FTQ and the regional Fonds de solidarité FTQ Montréal.
The investment will be used to fuel Fresche’s aggressive organic growth as it assists the more than one hundred thousand IBM i shops around the world in future-proofing their mission critical technologies and business processes.
Fresche Legacy provides innovative solutions to organizations seeking to modernize and extend the life of legacy applications running on IBM Power Systems. Fresche’s portfolio of technologies and services help IT departments take advantage of modern and agile solutions including web, mobile and cloud.
"FSTQ’s investment will allow us continue our aggressive growth,” says Andy Kulakowski, President and CEO of Fresche Legacy. “Legacy technology is pervasive within the IBM i market and contains invaluable data and business processes. However, legacy systems are also difficult to maintain, hard to integrate with newer technology and don’t easily adapt to evolving business realities. Fresche’s next generation of modernization tools eases the modernization process, and provides IT organizations with the essential tools to maintain, enhance and evolve their IBM i applications for years to come.”
“The investment from FSTQ gives us the ability to intensify our efforts in an IBM i market hungry for innovative legacy management and modernization solutions,” says Nick Cristiano, Chief Financial Officer of Fresche Legacy. Fresche has completed three acquisitions in four years, and we see tremendous potential in further consolidating the market for modernization solutions.
“Fresche is now a recognized leader in the legacy technology field,” said Alain Denis, Senior Vice President, New Economy, Fonds de solidarité FTQ. “With its recent strategic acquisitions abroad, Fresche has also become a global IT consolidator."
"Fresche has helped businesses of all sizes, including Royal Caribbean Cruises and Union des artistes (UDA). Fresche has experienced strong growth over the past five years and will continue to create jobs for the future here in Quebec," said François Morier, head of the regional Fonds de solidarité FTQ Montérégie.
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. For more information, visit www.FondsFTQ.com.
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