Private equity firm Banneker Partners acquired industry facility management software firm Xytech Systems, the latter announced. Terms of the acquisition were not available.
“We see this as a strategic investment to accelerate Xytech’s ability to enhance their solution offering and operational delivery capabilities in this key market segment,” said Kenneth Frank, partner at Banneker Partners, in the announcement, which was made with Xytech CEO Richard Gallagher.
Gallagher said Xytech has worked to “bring facility management into the next generation” to help media companies become more efficient and productive.
He said Banneker has an investment focus on software solutions aimed at specific verticals “and willingness to invest to scale operational delivery, product innovation and sales and marketing.”
Banneker Partners is an enterprise-software-focused private equity firm based in San Francisco.
Last April, Xytech acquired the ScheduALL brand of enterprise resource management software.
More information is available on the company’s website.
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