P3Software closes $1 million Private Equity Deal
Funding gives boost to world's fastest growing print e-procurement provider
Boston, Mass - December 1, 2005 P3Software announced today the closing of a $1 million private equity deal with two private equity funds, Donner Management Co. and Quattro Management, LLC. The deal gives P3Software the resources to capitalize on its continuing success in the print e-procurement systems business.
"This is great news for us, our customers and the whole printing industry as well" says Caleb Tower, P3Software CEO. "Since upgrades are included in the annual cost of P3Expeditor, our customers will benefit directly from the addition of product development resources. The printing industry will also benefit from our continued success. As many printers that work with P3Software customers can attest, P3Expeditor makes the entire print buying and selling process more productive, accurate and faster. This in turn, makes print as a communications media more competitive with broadcast and on-line media."
The P3Software equity financing was arranged with Donner Management Co. and Quattro Management, LLC. two private equity investment companies with deep experience in the direct marketing industry. Joel Rosano of Quattro Management remarked "Direct marketers buy printing all the time, so the P3Expeditor value proposition immediately made sense to us. Plus, the P3Software management team has really figured it out - the P3Expeditor system trumps all others in cost effectiveness, ease of use and implementation. We're excited about this technology and as direct marketing veterans, can add additional value and insight". P3Software, CEO Tower notes, "With deep industry knowledge and over $100 million in assets, Donner and Quattro are ideal investors. They have the deep pockets, expertise and perspective to go the distance with P3Software."
Bob Yancich, P3Software COO adds, "Over the past 4 years we have established our technology and credibility in the market. Now we can build on our base of Fortune 500 corporations, major universities, governments, ad agencies, non-profit institutions and print resellers. This year our customers will use P3Expeditor to manage over $250 million in print job volume. Next year we expect our customer base and job volume to grow exponentially."
About P3Software
P3Software is a privately held company headquartered in Boston, Massachusetts. The company's mission is to provide affordable print procurement solutions to:
Corporations
Non-profit Organizations
Educational Institutions
Advertising Agencies
Graphic Design Firms
Other Print Resellers
P3Software, Inc.
Press Contact: Caleb Tower
ctower@p3software.com
508-318-4587 x127
P3Software and P3Expeditor are trademarks of P3 Software, Inc.
