Montreal’s Fresche Legacy has received a $6 million US ($7.8 million Cdn.) strategic investment from the Fonds de solidarité FTQ and the regional Fonds de solidarité FTQ Montréal, money which will be used to fuel growth for the IBM i application management solutions provider.
The Fresche Legacy portfolio of solutions helps IT departments leverage modern solutions, including web, mobile and cloud.
“FSTQ’s investment will allow us continue our aggressive growth,” says Fresche Legacy President and CEO Andy Kulakowski. “Legacy technology is pervasive within the IBM i market and contains invaluable data and business processes. However, legacy systems are also difficult to maintain, hard to integrate with newer technology and don’t easily adapt to evolving business realities. Fresche’s next generation of modernization tools eases the modernization process, and provides IT organizations with the essential tools to maintain, enhance and evolve their IBM i applications for years to come.”
Fresche Legacy assists the more than 100,000 IBM i shops around the world in future-proofing mission critical technologies and modernizing businesses that are running legacy applications on IBM Power Systems.
“The investment from FSTQ gives us the ability to intensify our efforts in an IBM i market hungry for innovative legacy management and modernization solutions,” says Fresche Legacy CFO Nick Cristiano. “Fresche has completed three acquisitions in four years, and we see tremendous potential in further consolidating the market for modernization solutions.”
Fresche has experienced strong growth over the past five years, and serves businesses ranging from Royal Caribbean Cruises and Union des artistes (UDA).
“Fresche is now a recognized leader in the legacy technology field,” said Fonds de solidarité FTQ Senior Vice President for New Economy Alain Denis. “With its recent strategic acquisitions abroad, Fresche has also become a global IT consolidator.”
Created in 1983, the Fonds de solidarité FTQ has net assets of $11.1 billion as of May 31, 2015.