Inverness Graham-Backed Corsica Technologies Acquires Hughes Systems
Wayne, PA, March 4, 2024 – Inverness Graham (“IGI”), a Philadelphia based buyout firm that acquires innovative companies where technology is transforming traditional industry, announced today that Inverness Graham-backed Corsica Technologies (“Corsica”) has acquired Hughes Systems Group (“Hughes”). Based in Santa Barbara, CA, Hughes is a provider of managed data integration services for B2B, EDI, and application-to-application solutions. With unparalleled expertise in enterprise-scale data integration delivered as a managed service, Hughes is well-suited to help Corsica’s current and future customers streamline their supply chains, automate their order-to-cash operations, develop a deeper breadth of integration expertise, and implement a long-term plan for successful data integration and AI.
“The acquisition of Hughes is an organic growth accelerator,” stated Trey Sykes, Managing Principal at Inverness Graham. “The addition of Hughes brings a complementary service offering to the Corsica platform that will increase Corsica’s ability to attract new business and address consistent demand from existing customers. Corsica is well-positioned to realize the potential growth of this opportunity with a team of experienced EDI integration professionals, including IGI Senior Operating Partner, Bob Renner. We are thrilled to support the combined team on the company’s next phase of growth.”
“We are delighted to join forces with Hughes,” said Corsica’s CEO Brian Harmison. “We’ve been closely monitoring the needs of our client base and consistently hear about their challenges to interconnect and automate the exchange of data with customers and suppliers. Our clients are asking us to help them develop data integration solutions in the same way we solve their IT cloud infrastructure and cybersecurity needs. With this addition, we’ll be able to begin solving those data integration challenges immediately.”
Terms of the transaction were not disclosed.
About Inverness Graham Investments
Inverness Graham is a Philadelphia based buyout firm that acquires innovative companies where technology is transforming traditional industry. The firm’s Flagship strategy focuses on high-growth businesses leveraging technology in Healthcare, Software and Advanced Manufacturing. The firm’s Green Light strategy targets technology-enabled businesses where Environmental Sustainability is a key driver of accelerating growth. Inverness Graham executes a differentiated, repeatable model for value creation through its proprietary “Strategic Platform Build” approach. Founded by senior executives of the Graham Group, the firm builds upon a 60-year legacy of operational excellence, bringing substantial value creation resources and an innovative mindset to support its portfolio company partners.