Estimated reading time: 1 minute, 8 seconds

SERENIC FOUNDERS BUY NFP LINE Featured

Jay Malik, Tangicloud TechnologiesTangicloud Technologies, owned by Serenic Software co-founders Jay and Liesa Malik, has acquired the OneNFP business unit from OneSoft Solutions. OneSoft, based in Edmonton, Alberta, said it would concentrate on its OneBridge subsidiary, launched in July. The companies said the sale price could not be accurately stated because of conditions about the performance of Tangicloud and currency issues but could range up to $500,000.

Sylogist acquired the Serenic operating companies and virtually all of its software on June 26, 2014. Serenic changed its name to OneSoft Solutions, retaining the cloud technology with Sylogist owning the desktop Serenic Navigator line and other applications. Tangicloud's website notes that the OneNFP cloud application is based on the old Serenic but says the company will release an updated version, based on Dynamics NAV 2016, during the spring. Tangicloud says the new software will have the following prices: $420 per month for the first user; $210 per month for each subsequent user; $20 per month for a "limited" user. The price includes all software and Microsoft server hosting. On Feb. 13, 2015, OneSoft sued Sylogist for what it claimed was an unpaid part of the original $8.1 million purchase price. Also that month, OneSoft raised about $800,000 through a Canadian private placement. Sylogist counter-sued alleging it should be compensated for losses on the purchase. Sylogist and OneSoft are all publicly traded in Canada. OneBridge is developing products for the oil and gas pipeline industry.

Read 1977 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.