News

Source: Industrial Distribution - August 2003

Prophet 21, a provider of technology solutions for durable goods distributors, has announced the acquisition of Faspac Systems, Inc., a provider of enterprise software solutions and services for fastener distributors.

"...Prophet 21 is constantly searching for ways to strengthen its expertise among durable goods distributors to help its customers continue to increase sales, improve customer service and reduce operating costs," said Chuck Boyle, president and CEO of Prophet 21, located in Yardley, Penn. "Faspac Systems is a powerful force in the fastener market, and we are fortunate to be in a position to acquire them."

According to Prophet 21, both Faspac Systems and Prophet 21 customers will benefit from melding of Faspac's specific vertical market expertise with Prophet's technology leadership and corporate strength. The acquisition also further strengthens Prophet's domain in the distribution industry as a whole, while deepening its knowledge in the fastener marketplace.

"Faspac was the dominant player in the fastener industry, but didn't have the superior technology," said Doug Levin, executive vice president of Prophet 21. "Prophet 21 is the largest software provider in the industry, and our technology will benefit all the Faspac, now Prophet 21, customers."

Faspac customers acquire the benefits of Prophet's stability, research and developments resources, customer support, as well as the technological resources of the company's CommerceCenter and Trading Partner Connect.

When it comes to expanding to other markets, Levin said, "We are constantly looking to grow in a way that is best for our customers. We strive for organic growth, meaning gaining new customers, but we also keep a look out for our largest competitors, who are operating without the technology, but with the customer base."

Faspac's close to 280 fastener distributors will join Prophet 21's customer base, and will combine to form into the single entity of Prophet 21.

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