Friedman Announces Acquisition of Future Business Systems

DEERFIELD, IL (02 June 2015) – Friedman Corporation ("Friedman"), a division of Vela Software International, has completed the acquisition Future Business Systems Pty Ltd.

Future Business Systems, based in Melbourne, Australia, develops retail management systems, point of sale systems, accounting software and enterprise management systems for businesses in the retail and manufacturing industries. The Harmony software suite has modules for point of sale, inventory management, accounting, e-commerce, distribution and manufacturing.

As a result of the acquisition, Future Business Systems will operate as an independent division of Friedman's Markinson Technologies group, and will continue to develop, enhance, service, and support their software solutions in order to provide a competitive edge to its customers.

Mark Thompson, Chief Executive Officer of Friedman, commented, "The acquisition of Future Business Systems builds on our meaningful presence in the Australia and Asia-Pacific region, and extends our footprint in the apparel, retail and wholesale distribution sectors."

Mark Silver, Managing Director of Future Business Systems, adds "This is an exciting development for both Future Business Systems and our customers. The strategic and operational support provided by Markinson Technologies and the Friedman Operating Group will facilitate our continued development throughout the Harmony portfolio and allow us to extend our market reach. We look forward to successfully expanding our business while continuing to provide first-class service to our customers."

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