Press Release - September 26, 2011
Velocity Technology Solutions Acquires Leading Oracle JD Edwards Hosting Provider
NEW YORK CITY (September 26, 2011) – Velocity Technology Solutions, Inc., the ERP in the Cloud company, today announced that it has acquired WTS, Inc., a strategic partner with Oracle for the hosting of the JD Edwards family of applications. The deep Oracle JD Edwards experience of the WTS team enables Velocity to expand its offerings to a significant and well established marketplace. Velocity’s virtual private cloud platform and advanced software management tools will be extended to this market, enhancing the high-quality offerings already provided by WTS to its customer base.
“First and foremost, we’d like to welcome WTS customers to the Velocity family and underscore our commitment to delivering them the most secure, flexible and user-friendly way to experience ERP in the cloud,” said Tom Bruno, president and CEO of Velocity. “We’re not only expanding our customer base, we’re enhancing our application and industry knowledgebase and delivering on our promise to offer the most complete managed solutions with the highest level of customer service and application availability in a secure private cloud environment.”
WTS was the first company to host JD Edwards EnterpriseOne and World product families, and it has focused solely on deploying, hosting and supporting Oracle enterprise software and complementary products as the strategic hosting partner for these Oracle solutions. In addition, WTS has brought to the market innovative disaster recovery solutions designed specifically for enterprise software. The company was founded in 1997 by WTS President and CEO Tom Hughes, J.D. Edwards and a team of highly experienced IT executives and consultants in response to market demand for enterprise application hosting and support services.
The acquisition was financed by Fifth Third Bancorp, a diversified financial services company headquartered in Cincinnati, Ohio. The company has $111 billion in assets, operates 16 affiliates with 1,306 full-service Banking Centers. For more information about Fifth Third Bank, visit www.53.com. Fifth Third's common stock is traded on the NASDAQ® National Global Select Market under the symbol "FITB." Member FDIC.
About Velocity Technology Solutions
Velocity – the ERP in the cloud company – hosts ERP software and related applications for companies within its virtual private cloud environment, lowering operational costs, increasing service levels and improving software performance while reducing burdens on IT staff and enabling deployment flexibility. Expertise managing software 24/7, combined with proprietary technology that enhances availability, security, and control, make Velocity the trusted partner for quickly and securely moving existing and future ERP investments into the cloud. Velocity is headquartered in New York City. For more information: www.velocity.cc.