MAPICS, Inc., a software solutions company focused on the manufacturing sector, completed its acquisition of Ohio-based Frontstep, Inc. on Wednesday.
MAPICS used $21.7 million of a new $30 million credit facility to pay assumed debt from Frontstep and also exchanged 4.2 million shares of MAPICS to acquire Frontstep’s outstanding shares.
Combining the two companies gives MAPICS (Nasdaq: MPAX) more than 10,000 sites were software solutions of the two firms has been deployed.
MAPICS: www.mapics.com
