Facility management software provider Xytech has been acquired by software-focused private equity firm Banneker Partners.
The deal, which was completed on December 30, was described as a “strategic investment to accelerate Xytech’s ability to enhance their solution offering and operational delivery capabilities in this key market segment,” according to Kenneth Frank, partner at Banneker Partners.
Xytech’s products include MediaPulse, a resource, work order and asset management solution that provides scheduling, automation, asset management, billing and cost recovery for broadcasters, media services companies and transmission facilities in a scalable platform-independent solution.
In April 2021, Xytech acquired the ScheduALL brand of enterprise resource management software for broadcasters and media companies.
The company’s clients include Viasat and NBC Sports.
Xytech CEO Richard Gallagher said: “When I created Xytech, my primary goal was to bring facility management into the next generation to help media facilities — both large and small — be more efficient and productive.
“For more than three decades, this has been Xytech’s focus, and we are proud of what we have accomplished. Banneker, with its investment focus on software solutions aimed at specific verticals and willingness to invest to scale operational delivery, product innovation and sales and marketing, is the perfect partner for Xytech’s next stage of growth.”
According to Xytech, its customers can expect “a seamless transition and the company will update its customers and partner in the coming days”.