Daytona software company bought - Staff Report
Oct 04, 2007

Sales Partners Systems Inc., a Daytona Beach software company, has been sold to an Arizona company, the companies announced. Terms were not disclosed.

The buyer, Phoenix-based AFS Technologies, which develops software for the food and beverage industries, apparently will continue SPS' operations at 757 S. Nova Road in Ormond Beach.

No one with either company could be reached for comment.

Kurien Jacob, AFS' chief executive stated in a news release, "SPS was the pioneer in sales force automation in the food industry and has been the leader in this segment for some time. We are excited to have partnered with the management of SPS to continue the growth of AFS."

SPS' main product is the PROFILE Database. It has a customer base of more than 400 distribution companies, according to the news release.

"With the acquisition of SPS, AFS has now assembled the industry's most comprehensive family of product offerings including distribution, food processing, financial solutions, sales applications, radio frequency and voice-based warehouse management and transportation software," Jacob stated.

AFS, which also has operations in Weston and Milford, Conn., and Bangalore, India, also announced it has gotten $5.2 million in financing from Ticonderoga Capital of Wellesley, Mass., and Merion Investment Partners.

The Argentum Group, a New York-based private equity firm and AFS's largest shareholder, helped facilitate the financing.

Sales Partner Systems was established in 1987 by Gary and Larry Frank. At one time it had about 50 employees.

It began as a spin-off of the former City Provisioners food distribution business. The Franks sold the distribution business to US Foodservice and it is now known as North Star Foodservice, and has centers in Ormond Beach and Port Orange.


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