TORONTO, ONTARIO, CANADA, December 2, 2022/EINPresswire.com/ -- FOG Software Group (“FOG”), an operating group of Vela Software, is pleased to announce the acquisition of ICS from UK-based Equiniti Group (“EQ Group”).
ICS develops innovative case and document management platforms for some of the world’s best-known brands and public sector organizations. ICS products support customers on their journey to digital excellence in the UK and Ireland private and public sectors. ICS has been delivering IT solutions for over 50 years that help clients reduce costs, deliver value and drive efficiencies across their organizations.
Marc Belanski, Portfolio Manager, FOG, voiced enthusiasm for the acquisition, stating “ICS has an outstanding legacy of providing leading-edge solutions to the public and private sectors. Together, with our experience growing and building software companies, we see a bright future for the ICS team as we help customers in their digital journeys.”
“This is an exciting development for both ICS and its customers,” adds Stuart Gunning, Managing Director of ICS. “The acquisition by FOG and Vela provides us a strong corporate platform and access to resources and expertise which will allow us to improve our product portfolio and extend our market reach while, at the same time, continuing to provide first-class service to our customers.”
Paul Lynam, CEO, EQ Group, states, “This sale reflects Equiniti’s strategic focus to simplify its portfolio and concentrate resources and investment on its scale core propositions in Shareholder Services, Retirement Services, Remediation, and Credit and Risk Services. We wish the ICS team well on the new journey they are embarking on and are excited to continue to partner together on mutual customers well into the future.”
About FOG Software Group
FOG Software Group is an operating group of Vela Software headquartered in Toronto, Canada. The operating group acquires, manages, and builds businesses in a variety of vertical markets. By helping their acquired companies improve operations, grow through organic initiatives, and seek additional acquisitions that can strengthen their market position, their portfolio companies become clear leaders in their industries. Learn more at https://www.FOGSoftwareGroup.com
About Equiniti Group (EQ)
EQ is a leading international provider of shareholder, pension, remediation, and credit technology. With over 6,000employees, it supports 37 million people in 120 countries. EQ’s purpose is to care for every customer and simplify every transaction, delivered with less of an impact on the environment.