Parent company, Step3, to invest acquisition proceeds in supporting growth of HighGear’s no-code workflow automation platform
Frederick, Maryland – November 28, 2018 – Step3, Inc., a privately-owned technology investment and management company that holds an ownership stake in HighGear, announced today that Swift Systems, Inc., a managed IT services provider serving the Washington, D.C. region that is also owned by Step3, has been acquired by NuMSP, a New Jersey-based company known for their rapidly-growing, national Managed Services Provider operations, focused on the SMB market.
Although terms of the private deal were not disclosed publicly, the acquisition of Swift Systems was an isolated financial transaction and did not include the transfer of any ownership, employees, assets, or interest of any kind in HighGear, Inc., formerly known as Swift Software, which remains a completely separate, stand-alone software company, privately-owned by Step3, Inc.
“This acquisition will expand the reach, capabilities and resources available to Swift Systems’ customers,” said Vaughn Thurman, Founder of Swift Systems, President of Step3 and CEO of HighGear. “Furthermore, the proceeds from this transaction will allow Step3 to provide significant financial support and increased focus and attention on HighGear customers as well.”
HighGear announced in October last month that it was changing its name from Swift Software, which was spun out from Swift Systems as a stand-alone software company in 2003. This name change preceded the launch of the most recent version of HighGear’s intuitive, no-code workflow platform, which enables business analysts to rapidly build enterprise-grade workflow applications without knowing how to code.
“Prior to our recent name change to HighGear, many of our customers had known us as Swift Software, the maker of JobTraQ, for the last 15 years,” said Josh Yeager, former COO of Swift Systems and current COO of HighGear. “Given the similarity in names, we want to ensure HighGear customers know that we are not only here to stay, but that we will have even more resources to invest in addressing their workflow automation challenges for many years to come.”
To learn more about HighGear’s no-code workflow platform, schedule a product demo or join HighGear’s global customer community, please visit https://www.highgear.com or follow us on Twitter @gohighgear.
About HighGear
HighGear is the leading, intuitive no-code platform for business analysts to rapidly build enterprise-grade workflow applications. It is the only enterprise-grade workflow application that allows teams of everyday business users to quickly assign tasks, manage work, track progress and report the status of activity across that flows across dozens of departments in real-time. HighGear provides business unit managers with real-time visibility into the status of operations to dramatically improve efficiency, increase productivity and quickly respond to changing market conditions to accelerate digital transformation. Whether HighGear is installed on-premise or hosted in the cloud, IT departments can easily control authentication and integrate with internal or external systems, while meeting enterprise-grade security requirements. HighGear has been trusted by leading companies worldwide for more than 15 years to power mission-critical processes for companies in regulated industries and meet complex compliance requirements for customers, including NASA, Baillie Gifford, TransCanada and Fifth Third Bank.
About NuMSP
After years of providing IT services and security solutions for small and midsize (SMB) businesses across several states, our leadership team decided to offer premium solutions in every state in the U.S. The SMB market has always provided most of the job and economic growth in the United States but this segment’s ability to access and leverage technology has always been limited to in-house research capabilities and expertise, or the reliance on a trusted IT advisor, a role made more difficult given the advances in technology and proliferation of security threats. In response to these dual trends, NuMSP is creating a nationwide company with the scale and resources to deliver advanced IT services and security solutions that will rival the solutions leveraged by Fortune 500 companies. We are currently looking to enter new geographic areas and acquire MSPs in our existing geographic markets. If you are interested in having your MSP join the NuMSP family, a vibrant national IT organization, please contact us at www.numsp.com.