Leading Visitor Management Software Firm Has Change of Ownership
Brady Corporation Divests STOPware Business Back to Original Founder/Owner.
- (1888PressRelease) January 08, 2014 - San Jose, CA - STOPware, inc., developers of PassagePoint Visitor Management Software, announced today that Brady Corporation divested the STOPware business unit to its prior owner and original Founder, Mr. Paul Terschuren. Mr. Terschuren had previously run STOPware as a standalone entity, and continued to run this business as part of the Brady portfolio when Brady Corporation acquired STOPware in August 2005. Mr. Terschuren will revert to being the sole owner of the business. Terms of this transaction were not disclosed.
The rationale for the divestiture was simple - both Brady and Mr. Terschuren are highly committed to the success of STOPware as the market leader in visitor management. Achieving this success requires focus on software development and related integrations. There was a mutual agreement between parties that achievement of STOPware's future vision would best be enabled under Mr. Terschuren's independent leadership going forward.
"Although there were some synergies with the identification and access control products Brady offers, running an entrepreneurial software company under such a large corporate structure proved to have some limitations," said Paul Terschuren, owner of STOPware," We need to stay agile in the visitor management software space in order to stay ahead of market demands and customer needs."
This transaction is a win-win for both parties. STOPware will move forward with an aggressive focus on visitor management, and Brady will direct its attention on growth objectives in the identification and access control segment. With the strong relationship built over the years, Brady will continue to partner with STOPware going forward, as a valued member of STOPware's distributor network. STOPware's corporate office and staff will remain in San Jose, CA.
The emphasis on safety and security in buildings and campuses worldwide has continued to increase in the wake of many tragic events occurring both in the US and abroad. STOPware's proprietary products provide an innovative identification solution to help customers improve the safety and security of schools, hospitals and companies large and small.
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