MINNEAPOLIS – (July 27, 2007) – The Pohlad family of companies has expanded its information technology (IT) holdings with the addition of Arcadia Solutions, a Boston-based IT consulting firm.
The deal closed July 2, 2007. Terms were not disclosed.
Arcadia Solutions will continue to be based in Boston, and all of its 45 employees, including its senior management team, have been retained.
Founded in 2002, Arcadia Solutions is a consulting firm specializing in the deployment, benchmarking and optimization of emerging business technologies in the health care, financial service and high technology industries. Arcadia Solutions has developed benchmarks for such applications as Enterprise Incentive Management and Electronic Medical Records.
“We look for entrepreneurial organizations with strong management teams and growth potential, and Arcadia was an excellent fit with our strategy and our culture,” said Dave Johnson, chief technology officer for the Pohlad family of companies. Johnson added that Arcadia Solutions’ track record for recruiting and retaining top talent was a key factor in the acquisition.
“For a company that was a business plan in 2002, we have grown by more than 50 percent each year based on our approach,” said Seth Henry, founder and CEO. “Becoming part of the Pohlad organization not only gives us capital to fuel additional growth, but an infrastructure and access to expertise that allows us to pursue new opportunities in new markets and application categories.”
Henry said the new capital will help the firm develop new benchmarking services and expand its vertical market initiatives. He indicated that the focus will continue to be on attracting top-tier talent as the firm expands into new regions of the U.S.
This marks the Pohlad organization’s second acquisition of an IT firm. In May 2006, the organization acquired Inetium, a Minneapolis-based IT firm that focuses on improving business productivity through IT strategy, solutions and services.
The two firms represent the first two phases of a three-pronged IT growth strategy and will be managed as separate but related companies, according to Johnson, who also serves as the Pohlad organization’s portfolio manager for technology investments. A third area of interest is managed services or IT outsourcing, which “we’ll either build or buy,” he said.
Johnson indicated that acquiring Arcadia Solutions fits with an important marketplace trend. “As companies move away from general applications and toward more industry-specific solutions, Arcadia will be our foundation to develop and provide consulting offerings that combine industry specific solutions with best practices and benchmarks,” he said.
About Arcadia Solutions
Arcadia Solutions combines management and technology consulting expertise to deliver solutions to meet the needs of customers in specific industries. For more information, visit http://arcadiasolutions.com.
About the Pohlad family of companies
The Carl R. Pohlad family holdings include significant interests in financial services, beverage, entertainment and real estate industries, as well as the ownership of the Minnesota Twins Major League Baseball team.
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