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AFS Technologies acquires Answers Systems
[September 02, 2011]

AFS Technologies acquires Answers Systems

Sep 02, 2011 (Datamonitor Financial Deals Tracker via COMTEX) -- AFS Technologies, Inc., a provider of food and beverage enterprise software solutions, has acquired Answers Systems, Inc., a provider of software that tracks contracts and details between food manufacturers and food service operators. Both the companies are based in the US.

Concurrently, AFS has also acquired Synectics Group, Inc. Madison Park Group acted as financial advisor to AFS Technologies.

Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Completed: 2011-09-01 Deal Participants Target (Company) Answers Systems, Inc.

Acquirer (Company) AFS Technologies, Inc.

Deal Rationale The acquisitions of Answers and Synectics improve the management of trade promotions and claims and enable AFS to effectively service retail and food service CPG customers.

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