Monday, September 15, 2008

Internal Matters bought by GlobalWare Solutions

By Mass High Tech Staff

Software maker GlobalWare Solutions Inc. reports that it has acquired Internal Matters Inc., a Providence, R.I.-based developer of online business solutions including eCommerce, web design and development.

GlobalWare, which operates an office in Haverhill, has been a partner with Internal Matters for the past two years. All the members of the Internal Matters executive team — Christopher Melo, Jason Melo, Christopher Caouette, Lee Caouette and Jesse Pakin — will remain with the company, GlobalWare officials said. Other terms of the deal were not disclosed.

GlobalWare, which operates offices in Redwood City, Calif., Europe and Asia, develops a suite of e-commerce and supply chain solutions to companies in consumer electronics, medical equipment and devices, electronic handhelds and accessories and hardware and software markets.

The company was formed with a triple merger in 2000. In 2001, GlobalWare raised $30 million in private equity financing to complete strategic acquisitions. Mezzanine Management LLC, a London-based investment company with U.S. offices in Stamford, Conn., provided all the capital and bought a minority stake in GlobalWare.

In 2003, GlobalWare acquired Singapore-based Mainstream International Ltd. to expand the company’s reach into Asia. In 2005, GlobalWare recapitalized with $32 million from Mezzanine Management. At the time, GlobalWare did not release balance sheet information, revenue or earnings.