AFS Technologies Acquires IRM Corporation
Combination Creates Unrivaled Leadership in Technology Solutions for Food & Beverage Clients
August 29, 2008 (Phoenix, AZ) – AFS Technologies, Inc (AFSI), the leading provider of software solutions for the food and beverage industry, announced today that it has completed the acquisition of 100% of the shares of Dallas-based IRM Corporation, the market leader in software-as-a-service (SaaS) business intelligence and trade promotion management solutions for the food and beverage channel.
AFS and IRM together provide 700-plus customers in the food and beverage manufacturing, processing, and distribution segments with a broad solutions-portfolio tailored specifically to the channel. This unique, modularly-designed system offers solutions for Distribution, Sales & Marketing, Financials, Processing, Warehouse Management, Transportation, E-commerce and Database Services featuring the industry’s largest database of product information and recipes, the PROFILE® Database.
“The acquisition of IRM will enable AFS to bring even greater value to our combined customers in the food and beverage channel by further enhancing the functionality and utility of our diverse portfolio of best-of-class solutions,” said Kurien Jacob, CEO of AFS Technologies. “Both companies have experienced strong growth in the past by providing our respective customers with solutions in a modular fashion, addressing their needs. IRM adds to that concept in that any customer, irrespective of their main system, can deploy IRM solutions.”
“The IRM family is excited to be a part of the AFS team,” stated Art Harding, Chairman and CEO of IRM Corporation. “We built our company by focusing exclusively on the food and beverage channel, and building solutions that address the unique needs of our clients in the industry,” said Dean Abrams, IRM’s President and COO. Harding added “AFS shares that same focus and commitment and, together, the two entities have the unique ability to provide our 700+ customers with a depth of channel intimacy and understanding that is unparalleled by any other technology company today.”
“IRM also adds an experienced management team to AFS. The team out of the Dallas office will continue to manage the SaaS business for AFS and soon offer more integrated SaaS offerings to the industry,” said Walter Barandiaran, Chairman of AFS.
About AFS Technologies, Inc.
AFS Technologies Inc. is the leading provider of software solutions for the food and beverage industry. The company serves over 500 customers across North America and the Caribbean with solutions designed to reduce costs, increase efficiency, increase sales and margins, streamline internal processes and assist in regulatory compliances. AFS offers the industries only complete end-to-end software suite utilizing service-oriented architecture (SOA) and the Microsoft .NET framework. This unique modularly designed systemoffers solutions for Distribution, Sales & Marketing, Financials, Processing, Warehouse Management, Transportation, and Database Services featuring the industry’s largest database of product information and recipes, the PROFILE® Database. For additional information please visit our website: www.afsi.com
About IRM Corporation
IRM provides both on-demand and on-premise business intelligence, forecasting and trade promotion management solutions to manufacturers, distributors and brokers in the food, beverage, and CPG industry - all delivered in a Software-as-a-Service (SaaS) model. For additional information, please contact Jim Gaspar at (602) 741-0925, or visit www.irmcorporation.com.
