In an announcement provided to Streamline Publishing’s co-owned Radio Ink on Friday (5/29), vCreative — the company known for its software-based workflow systems founded by Jinny Laderer and her husband, CTO John Laderer — had something somewhat surprising to reveal.
It’s been acquired by a software company with offices in Toronto and Atlanta that operates under the mantra to “acquire, build and grow great enterprise software businesses.”
For an undisclosed price, Banyan Software is purchasing vCreative.
Laderer will remain in her role as CEO, while recently appointed President/COO Susie Hedrick will also retain her duties following vCreative’s sale. Melissa Rapp will continue as Vice President of Sales.
Banyan works with owners who have built outstanding software companies that serve “distinct vertical markets.”
Banyan companies generally fit the following criteria:
- Annual revenues of $2M-$30M
- Positive operating margins and cash flow
- Strong, defensible, niche position in a market
- High customer retention rates
- High percentage of recurring revenue
- Happy employees with low employee turnover
- Located in the U.S. or Canada
“Most importantly, we recognize that every software company is unique,” Banyan notes. “Owners turn to Banyan because they want their business to continue thriving for long into the future and care deeply about who they partner with in a transition.”
Banyan’s capital comes from a small group of “world-class entrepreneurs, executives and investors.”
And, Banyan notes, “With a family office-like structure, we have the unique ability to provide a ‘permanent home’ for your company while bringing the wisdom and dedication of the group to its continued success.”
Banyan is headed by CEO David Berkal, a former CEO at Medicat, a top patient health management system in the college market, serving over 4 million students.
In a Q&A with Radio Ink, the Laderers were asked why they decided to sell the company they founded.
“As you know, John and I built this company from the ground up,” Jinny Laderer said. “We initially created the software to solve a problem in our own lives and ended up solving a problem that the entire radio industry shared. But with all the changes happening in our industry, users are now turning to us for custom solutions, automated workflows and integrations to help them navigate through the complexities of selling digital, programmatic, podcasting, TV, events and much more. As we looked to the future and thought about how we could best help our clients thrive, we knew we needed a stronger foundation with deep resources in technology, strategy and finance yet we wanted the autonomy to continue to run the company. We looked at many different options and Banyan Software was a perfect fit.”
What does this mean for vCreative clients?
“With Banyan, we will be investing heavily in next-generation technology, including an immediate expansion of the product and development teams,” Laderer said. “Over the next six months and beyond, we will be launching new products and integrations that will help our clients to maximize efficiency, productivity and profits.”
For the full interview, please visit RadioInk.com