Per a recent customer announcement, I am pleased to announce we finalized a partnership with Arcadea Group of Ontario Canada. This was a strategic equity recapitalization with their team to capitalize on what our team has built over the past 25 years. Arcadea Group is the only permanent capital growth investor in software companies globally.
After a lengthy and time-consuming search process, we found the right partner in Arcadea Group given their familiarity in growing businesses like Suntell based on their long-term approach to growth and market expansion. We are very excited about what this means for both our current and future customers as we execute on product expansion and increase the value for years to come.
I will continue in my role as CEO and Ronnie Wooten as President/COO as will all of our existing employees. The operating entity Suntell will continue which means no change to our existing relationship with you and how billing and support is handled.
I am very excited about the future as we continue the Suntell journey!