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Richmond-based LOKI Management Systems Inc. Acquired by US Multi-Billion Workforce Management Services Provider ZeroChaos
Thursday, October 5, 2017
Richmond, BC, October 5, 2017--(T-Net)--Renaissance Mergers & Acquisitions announced today in an email announcement that Richmond-based LOKI Management Systems Inc. (LOKI) has been acquired byZeroChaos.
Founded in 1987, Loki Systems Management Inc. (Loki) is a leading developer of workforce management software solutions designed for global enterprises with complex staff scheduling and payroll requirements.
They have more than 210 customers in 17 countries (including US, Canada, UK and Australia), the largest with 30,000 employees.
According to Renaissance Mergers & Acquisitions, after running Loki for almost 30 years the founders, Richard and Jo Swann, were nearing retirement age. As a result, they were seeking to transition the company to a larger strategic purchaser with the resources and distribution channels to fully capitalize on the world class scheduling and payroll technology they had developed.
The successful bidder was ZeroChaos - a multi-billion-dollar provider of workforce management services based in Florida, USA. ZeroChaos will be able to leverage its significant resources, broad distribution channels and large existing client base to generate a strong return on their investment.
An interesting sidenote in this transaction was that ZeroChaos itself was acquired by The Carlyle Group (ranked as the largest Private Equity group in the world) over the course of our negotiations.
Renaissance Mergers & Acquisitions served as the exclusive sell-side advisor to LOKI on this transaction. The Deal team included Axel Christiansen and Arneh Khatchatourians.