Ontario Systems Makes Acquisition
Muncie-based Ontario Systems LLC is growing its footprint with an acquisition. The deal for Vancouver, Washington-based Columbia Ultimate Business Systems comes nearly a year after Ontario Systems was acquired by a Washington D.C. private equity firm.
The Muncie company says the acquisition allows it to expand accounts receivable management product offerings and access a broader set of consulting services. Ontario Systems says it actively manages more than $40 billion in receivables through its platforms and serves more than 100 state and municipal government customers in 27 states.
Ontario Systems Chief Executive Officer Ron Fauquher says the company is "excited about the expanded growth opportunities that await us as a result of Columbia Ultimate’s leading position in the state and municipal government markets."
Last year, Washington D.C.-based Arlington Capital Partners acquired Ontario Systems, replacing a former major investor as a majority shareholder. At the time, the company said the deal would accelerate product strategy and cloud innovation.