The private equity arm of the Ontario Municipal Employees Retirement System has agreed to acquire a technology company that operates intelligent commerce networks from ABRY Partners.
Based in Winston-Salem, N.C., Inmar Inc. provides offline and online exchanges for retailers, manufacturers, shoppers and health-care institutions.
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Inmar attracted the pension plan’s investment because of its management and leadership in the sector, said Michael Graham, senior managing director and head of North America at OMERS Private Equity, in a release. “The company has steadily grown beyond commerce and into analytics and engagement solutions, which is an area where we see great opportunity.”
As part of the acquisition agreement, ABRY Partners will retain a significant stake in the company.
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“[OMERS Private Equity] brings significant financial resources and experience in partnering with growing companies like Inmar,” said David Mounts, chairman and chief executive officer at Inmar, in the release. “With [OMERS] and ABRY behind us, we will increase investment in technology and expand into new and emerging markets.”
The transaction is expected to close in the second quarter of 2017.