RealTime IT News

GlobalWare Raises $30M, Eyes Buys

GlobalWare Solutions, a Haverill, Mass., maker of supply chain mangement applications for electronics and software manufacturers, has raised $30 million in first-round financing to grow internally and by acquisition.

Mezzanine Management, a large European private equity investor, was the lead backer. Boston investment bank Newbury, Piret & Company helped bring in the new stakeholder.

"This infusion of capital, along with the substantial resources that Mezzanine Management brings to our company, will fuel our continued investment in leading edge technology and global expansion," said James R. Bartlett, GlobalWare's CEO.

Privately held GlobalWare helps companies manage new product releases, content management, software manufacturing, fulfillment, distribution, and reverse logistics. Its customers include more than half the Fortune 100 companies.

"Our capital will provide the financial support necessary for the next stage of expansion," said Brad Jay, a Mezzanine director. "With the supply chain management service sector maturing, we believe that proven suppliers will have significant growth opportunities."

GlobalWare Solutions was formed when two ZBR Publications and Bindco Corporation, merged. In addition to its headquarters, it has facilities in Redwood City, Calif., and Amsterdam, The Netherlands.