St. Paul, MN – August 21, 2020
Prime Technology Group (Prime), a leading IT solutions provider of software application development solutions, managed software solutions, and enterprise content management solutions is excited to announce the acquisition of Lighthouse Software Solutions (Lighthouse), a custom application development firm specializing in support, modernization and integration services primarily for the financial services industry.
"This acquisition is consistent with our strategy to add complementary software development capabilities which strengthen our vertical market domain expertise," said Sudhakar Goverdhanam, Prime’s Founder/CEO. He added "This is an exciting time of growth for Prime as we continue to broaden and deepen the solutions that we can offer all of our clients."
Going forward, the expanded company will be able to leverage best practices, technology, and talent to deliver outstanding products and customer service. Together, Prime will be able to enhance its sales presence, further penetrate the application development market in the Midwest and expand its breadth of highly experienced talent while increasing overall productivity and performance.
"I am excited that Lighthouse is now part of the Prime team. Our shared vision, goals and industry alignment reinforces our focus and expertise," said Tim Michalski, Founder/CEO of Lighthouse. He added, "Together, we can offer clients a higher level of service and deliver a greater depth of solutions to help them grow and to better address the business challenges they face." The Lighthouse management team and staff, including Tim Michalski, will continue with Prime.
In December 2019, Prime was acquired by Frontenac, a private equity firm focused on investing in the lower-middle market across the consumer, industrial and services markets. Frontenac continues to support an aggressive acquisition plan for Prime that focuses on delivering software development, application development and managed software solutions to highly regulated industries.
Prime Technology Group is a global technology services company. Prime provides outsourced software application development solutions, managed software solutions, and enterprise content management solutions for highly regulated industries, including healthcare, insurance, and financial services. Prime works with clients to develop, deliver, and then maintain and support complex technology systems that are critical to the client’s core business operations. Prime’s core practice areas include application development, data management, content management, and cloud services. Prime is based in Wayne, PA, with additional offices in Detroit, MI, Ontario, Canada, and Hyderabad, India. For more information on Prime, please visit www.primetgi.com.
About Lighthouse Software Solutions
Lighthouse Software Solutions is custom application development firm with a focus on providing legacy software support and modernization services to the financial services industry. With over 20 years in enterprise legacy software support, integrations, and modernization, Lighthouse has developed a successful approach that addresses the common issues associated with legacy software. For more information on Lighthouse, please visit www.lighthousesoftware.com.
Frontenac is a Chicago-based private equity firm. The firm focuses on investing in lower middle market buyout transactions in the consumer, industrial, and services industries. Frontenac works in partnership with proven operating leaders, through an executive-centric approach called CEO1ST, to identify, acquire, and build market-leading companies through transformational acquisitions and operational excellence. The firm has built a leading franchise working with over 275 owners of mid-sized businesses as they address complex transition issues of liquidity, management enhancement, and growth planning. For more information, please visit www.frontenac.com.
Prime Technology Group, LLC