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Mechanicsburg technology firm merges with Tampa-based company
Mechanicsburg-based business-process technology firm, ImageTech Systems, announced that it will be merging with a Tampa, Florida-based competitor.
Imagetech and business process improvement and automation services firm, Black Belt Solutions, said last week that the two companies would become one.
Black Belt Solutions Founder Kevin Schaal will take over as CEO of the newly combined entities and RJ Oommen, founder of ImageTech Systems, will serve in a strategic role.
ImageTech was founded in 1994. The company has a focus on automating document-centric business processes within banking and finance, insurance, state and local government, manufacturing and other industries.
“ImageTech and Black Belt have each built a strong reputation in the industry as providers of high-value professional client services. With complementary capabilities, together we will deliver a wide range of critical process automation and robotics solutions to a diverse client base,” said Oommen, “There are tremendous opportunities in our market and CAVU Capital has a track record of helping technology companies grow.”
The enterprise work industry is expected to grow at a 30% compound annual growth rate over the next five years as it is transformed by automation tools and processes, said Schaal.
“This an exciting time in our industry and with our combined technical expertise in robotics and Intelligent Process Animation we are now well-positioned for market expansion,” he said. “I am proud to lead our newly combined team towards future success.”
The transaction was facilitated by technology-focused investment firms CAVU Capital and Caprice Capital Partners.
