Intellectual Technology, Inc. (ITI), a portfolio company of Vicente Capital Partners, has acquired Medicine Hat, Alberta based Solutions Thru Software Ltd. Financial terms were not disclosed.
Initially selling software to individual agencies in Alberta, Solutions Thru Software first government contract came from Delaware and it now counts over twenty-five jurisdictions as customers, including four Canadian provinces and one territory.
East West Bank and Caltius Structured Capital provided debt financing. Mitchell Silberberg & Knupp LLP, led by Marc Jones, provided legal services to ITI.
Vicente Capital Partners through its Growth Equity Fund acquired a controlling interest in Carlsbad, California based Intellectual Technology, Inc. in November 2012.
photo credit: Solutions Thru Software
Intellectual Technology, Inc. (ITI) Acquires STS
CARLSBAD, CA–Intellectual Technology, Inc. (ITI), a Vicente Capital portfolio company, announces it has acquired Solutions Thru Software Ltd. (STS). STS is the leading provider of driver’s license knowledge testing software. The acquisition significantly expands ITI’s product offering and distribution capabilities for motor vehicle agencies into the driver’s license knowledge testing and road assessment testing markets and broadens its overall automated solutions offering.
“This acquisition is a great strategic fit for ITI. STS is the industry leader in driver knowledge testing software and has an excellent customer service reputation. Together, we can offer best in class vehicle registration, license plate and driver knowledge testing software with the capability to provide more innovative solutions to our motor vehicle agency customers. Also, STS will provide ITI expertise and knowledge on the driver knowledge testing side of the business,” said Craig Litchin, President of ITI. “We are excited about the joint solutions we can now offer our customers.”
STS has been providing state of the art driver knowledge testing systems since 1998 and the company has gained a strong reputation for its significant knowledge of state and federal regulatory requirements and driver testing regulations. STS started with its first customer in the U.S. and now counts over twenty-five jurisdictions as customers, including four Canadian provinces and one territory. Traditionally, STS products have been focused on software for driver knowledge testing and road assessment testing and the company has expanded into scheduling software.
“We are very pleased to join Intellectual Technology. Twenty-three years ago, we started with a vision to provide reliable and feature-rich driver knowledge testing software to one customer and we are now the leader in our industry. Combining our strengths with ITI allows us to provide more resources and solutions for motor vehicle agencies both at their offices, at third-party locations and directly at home,“ said Jim Sodero, President of Solutions Thru Software.
Some of the compelling reasons behind this acquisition include:
Broadens ITI’s Software offering to Motor Vehicle Agencies from software used for Vehicle Registration transactions to add software used for Driver License Knowledge Testing.
Expands ITI’s DMV Self-Service Kiosk capabilities to add Driver License Knowledge Testing.
ITI and STS are known throughout the industry for excellent customer service and innovation. Our goal is to work closely together and further expand our solutions to meet our customers’ current and future needs.
For specific questions regarding this acquisition, contact Von Swalley at firstname.lastname@example.org.