News
IBM i Modernization Solution Provider Fresche Legacy Secures US$6 Million Strategic Investment From Fonds de solidarite FTQ
December 2015 by Marc Jacob
Fresche Legacy, a premier provider of application management and modernization solutions for the IBM i announced it has received a $6 million US (C $7.8 million) investment from the Fonds de solidarite FTQ and the regional Fonds de solidarite FTQ Montreal. The investment will be used to fuel Fresche’s aggressive organic growth as it assists the more than one hundred thousand IBM i shops around the world in future-proofing their mission critical technologies and business processes.
Fresche Legacy provides innovative solutions to organizations seeking to modernize and extend the life of legacy applications running on IBM Power Systems. Fresche’s portfolio of technologies and services help IT departments take advantage of modern and agile solutions including web, mobile and cloud.
"FSTQ’s investment will allow us continue our aggressive growth," says Andy Kulakowski, President and CEO of Fresche Legacy. "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."
"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 Nick Cristiano, Chief Financial Officer of Fresche Legacy. Fresche has completed three acquisitions in four years, and we see tremendous potential in further consolidating the market for modernization solutions.
"Fresche is now a recognized leader in the legacy technology field," said Alain Denis, Senior Vice President, New Economy, Fonds de solidarite FTQ. "With its recent strategic acquisitions abroad, Fresche has also become a global IT consolidator."
"Fresche has helped businesses of all sizes, including Royal Caribbean Cruises and Union des artistes (UDA). Fresche has experienced strong growth over the past five years and will continue to create jobs for the future here in Quebec," said Francois Morier, head of the regional Fonds de solidarite FTQ Monteregie.
