Carlyle Group buys Compusearch
- By John Moore
- Jul 14, 2005
Carlyle Venture Partners, the venture investing arm of the Carlyle Group, has acquired Compusearch Software Systems, which provides procurement automation software and services.
Compusearch's PRISM product aids in various phases of the procurement process, including acquisition planning, best value source selection and invoicing. Compusearch officials announced the acquisition today but did not disclose financial terms.
More than 50 government agencies use Compusearch products, according to the company. Earlier this year, Compusearch, IBM and BearingPoint rolled out the Contract Authoring and Management System for the U.S. Postal Service. That project involved the customization of Compusearch’s PRISM application.
In conjunction with the acquisition, Carlyle officials announced the appointment of Peter DiGiammarino as Compusearch’s chairman and chief executive officer.
DiGiammarino has held numerous executive positions at integration and consulting firms including American Management Systems, BTG, and Touchstone Consulting Group.
DiGiammarino is familiar with the hybrid software and services business model. At AMS, he was vice president of that company’s Finance Industry Group, which offered software and services in insurance and retail credit among other areas.
DiGiammarino said Compusearch will look to boost its implementation and operations services. For the latter, the company will provide database administrators for on-site customer support.
But Compusearch also aims to cultivate relationships with service providers. He said he sees those companies as providing program management, process engineering, management consulting and strategy consulting services. “We have no interest in going into their business,” he said, noting that Compusearch will focus on its core business of procurement, grants and acquisition management.
Other Compusearch objectives include broadening the company’s reach into civilian agencies, taking a more active role in the defense sector, and entering new product areas from its base in procurement and grants systems.