PSD acquires RAC Software Inc.
The Public Sector Digest Inc. (PSD) announced the acquisition of RAC Software Inc., developer of prominent financial management software, FMW Web. The acquisition further reinforces PSD's dominant position in the municipal infrastructure and asset management industry and its dedication to empowering decision-makers in governments with high-performance software applications, analytical tools and advisory services.
"PSD has experienced significant growth over the past five years, and with the acquisition of the RAC/FMW Web financial management software applications, we will be able to further expand our delivery of enterprise-wide solutions and advisory services to both new and existing clients," said Tom Dawe, President and Chief Executive Officer at PSD. "The RAC/FMW Web technologies will integrate with the current PSD CityWide software applications and amplify our areas of practice."
RAC Software Inc. modules will be marketed under PSD's CityWide Software Solutions division.
"We see this transaction as having significant benefits for users of the FMW Web product suite. All RAC personnel will be continuing with PSD, so there will be no disruptions in service. We will now be part of a larger organization which will secure the long-term future of FMW Web," said Peter Longrigg, President at RAC Software Inc. "And, we will be paired with an experienced sales team, which will allow our products to reach new customers and markets, making this an exciting future for FMW Web."
About PSD: The Public Sector Digest Inc., headquartered in London, Ontario, specializes in providing infrastructure/asset management technology and advisory services to public sector organizations across Canada and the United States. Through software development under its CityWide Software Solutions division, and policy research and analysis, PSD has become the market leader in collaborating with municipalities to tackle the infrastructure crisis and bringing asset management to the forefront of the public sector discussion.
About RAC Software Inc.: RAC Software Inc. is dedicated to providing high-performance, production quality Financial Management software for use in budgeting, planning, forecasting, consolidation and reporting applications. The flagship product, FMW Web, is a highly flexible RIA (Rich Internet Application), featuring a polished, desktop-style user interface for a superior end-user experience. Backed by a robust, secure and scaleable web-based application server architecture on the middle tier, and supporting industry standard database management systems on the data tier, FMW Web provides a unique combination of usability and technical sophistication.