Posted May 21, 2020

RALEIGH – For the fourth time in seven months, Prometheus Group has made an acquisition. This time it is VIZIYA, formerly part of publicly traded Quarterhill.

And this is the second buy in less than a month despite the global COVID-19 pandemic.

“The addition of VIZIYA will enable Prometheus to extend our global reach and customer universe,” said Eric Huang, founder and Chief Executive Officer of Prometheus, in a statement.

“VIZIYA’s expertise in the Oracle and Infor ecosystems will allow us to branch into new and exciting territory and even further diversify our customer composition. Prometheus looks forward to working with VIZIYA’s strong management team to conquer the asset management space.”

Why make the deal?

Here’s how Prometheus describes VIZIYA:

“VIZIYA designs and develops bolt-on software products for its marquee customer base to enhance enterprise resource planning-based asset maintenance systems. The company’s WorkAlign Suite is designed to enhance its customers’ system rather than replace it. The Company’s products (with a focus on asset criticality, urgency, and compliance) are used in various industries around the world to drive cost savings, productivity, uptime, and reliability.”

Financial terms of the deal weren’t disclosed.

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