Canadian Company Buys Core IBS

13 Oct 2015 | 09.57 am

Canadian Company Buys Core IBS

Nice exit for founder Joe Walsh (66)

13 Oct 2015 | 09.57 am

Core IBS, a provider of application software for the Agribusiness and other trading industries based in Mitchelstown Co. Cork, has been bought by Cultura Technologies, which is located in Toronto.

Core IBS specializes in providing software solutions for activities such as Milk Processing, Grain Trading, Feed Mill Management, Retail POS, e-commerce, and CRM, through to Procurement, Warehousing and Distribution.

Core IBS founder and owner, Joe Walsh (66), said: “Having reached the point of retirement I am very happy to have found a partner in Cultura to continue the business and offer a smooth transition with little disruption for clients and staff.

“Clients will continue to be supported with their existing Core software and development in the product with the existing management and staff, but now under the guidance of a global reaching international company experienced in all aspects of software development and support”. Walsh will work with Cultura leadership through the transition period.

Net Worth

The deal consideration was not disclosed. Established in 2005, Core IBS Ltd had a net worth of €1.74m in June 2014, with €100 equity invested. Year-end debtors amounted to €1.66m and year-end cash stood at €321,000.

Besides Walsh, the company’s other directors are Donal Murray, Elizabeth Shanahan, Elizabeth Maher and John O’Sullivan.

Cultura Technologies LLC is a subsidiary of Constellation Software Inc (CSI), an international provider of market-leading software and services for the public and private sectors. CSI has 9,500 employees globally today.

Cultura Technologies provides software solutions to leading Agri-businesses throughout North America, the UK, and Europe, in the grains, agronomy, feed milling, produce, and animal protein industries.

Cultura president James Baker (pictured below) commented: “The acquisition of Core IBS helps us to deliver on this vision by strengthening our leading position in Agribusiness software technologies.”

James Baker

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