SAP data management startup Winshuttle snapped up by Symphony Technology Group
Winshuttle, a startup focused on SAP-based automaton and data management in the enterprise, has been acquired by private equity firm Symphony Technology Group (STG).
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STG, which holds roughly $2 billion in assets, says the acquisition will assist the startup in moving from a high-potential technology vendor to a "definitive market leader" in the robotic process automation and data management space.
The financial details of the acquisition were not disclosed.
Bothell, Washington.-based Winshuttle specializes in solutions for the enterprise related to SAP and data management workflows.
The company says that these services can assist in speeding product launches and financial accounting processes, finance, maintenance, data migration projects, and the supply chain.
Founded in 2003, Winshuttle raised $12 million in 2010 through a venture funding round led by Summit Partners.
STG, based in Palo Alto, California, says the deal will propel Winshuttle towards the development of "innovative product offerings that will appeal to high-growth markets."
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"This is an exciting step for Winshuttle that will allow us to leverage the tremendous expertise of STG to accelerate and scale our offering in the application data management space," said John Pierson, CEO of Winshuttle. "This partnership will allow us to deepen and broaden the value we deliver to our very satisfied customer base comprised of many of the world's largest brands."
Winshuttle accounts for roughly 300 employees across the US, UK, France, Germany, and India. The company caters for thousands of customers including Honda Aircraft, Honeywell, Lockheed Martin Space Systems, Lufthansa CityLine GmbH, and BAE Systems.
The company will continue to operate under the Winshuttle brand.