A Canadian firm recently acquired Wilmington-based LogicBay Corp.
Pluribus Technologies Inc. announced this week the completion of the acquisition of LogicBay through its portfolio company, The Learning Network, according to a news release.
Pluribus acquires small, profitable software companies and provides them with a platform for growth, the release stated.
"We are thrilled to add LogicBay to the Pluribus family of companies as our second acquisition in the learning management vertical." said Richard Adair, CEO of Pluribus Technologies, in the release. "We see significant potential for their Partner Relationship Management platform to create synergies with our other portfolio companies by better managing their customers' ecosystems."
According to the release, LogicBay provides technology and service solutions that enable manufacturers such as Caterpillar, Daimler Trucks North America and Meritor to build, scale and optimize their dealer network.
LogicBay has 35 full-time employees, and they all will be kept on, said John Panaccione, CEO of LogicBay. He said LogicBay will continue as an independent company.
LogicBay's technology suite includes Partner Relationship Management (PRM), Learning Management System (LMS) and FUSE, the release stated.
FUSE, a member-based digital ecosystem for the manufacturing industry, "fosters opportunities for members to connect and collaborate effectively, exchange information, gain immediate access to content & courses and activate new and incremental sources of revenue," according to the release.
Panaccione said in the release, "Pluribus brings resources that can help us accelerate our growth in the manufacturing industry and scale our FUSE and PRM technology in new industries where Pluribus has existing strength.
"Today, companies increasingly rely on their extended ecosystems – partners, consultants, suppliers, and others – to deliver value to the end customer. Pluribus recognized that as well, and I can't be more delighted at the fact that LogicBay has found the right investment partner moving forward."
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