MONTREAL - Speedware Inc., a Montreal IT company with roots going back 36 years, has been remade and renamed Fresche Legacy and has begun an ambitious new growth phase. CEO Andy Kulakowski said 18 months ago he and a group of employees felt Speedware was in a rut and its U.S. owners didn’t show much ambition to invest in its longer-term future. They went for a management buyout and worked out a repositioning plan.
“Now we’re bigger, better, leaner and meaner and our new logo, color scheme and name Legacy Management show what we can do for banks, insurance companies, government departments such as health care to update their existing IT systems and align them to current needs,” he said.
Legacy Management is moving from St. Laurent to new digs in the Griffintown area being developed and has acquired European technology. Most of its business is with U.S. customers including ING, State of Washington and Tufts Healh Plan and also Canadian Pacific Railway The buyout was partly backed by Fondaction, the venture capital arm of the CSN labour group. “This deal is about people taking control of their destiny, reinventing their company and accepting the risks associated with entry into new markets,” he added. “Our services can be critical even in downturns because they lead to client cost savings.
By ROBERT GIBBENS, SPECIAL TO THE GAZETTE March 19, 2012
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