Vancouver’s Maximizer Software has completed a going-private transaction led by the family of company chair Terrence Hui. The deal which was announced in October, will see a company indirectly owned by Hui’s family acquiring all of Maximizer’s shares for $0.12 per share.
Maximizer has had a difficult year in 2009, with nine-month revenue falling 30% for the period ending August 31, 2009 to US $9.1 Million from US$13 Million. The bulk of the revenue decline was due to a 31% drop in revenue of its Maximizer CRM software because of recession-related sales declines.
Maximizer’s product line was one of the original software makers of personal information management (PMI) and contact management software – precursors to today’s CRM solutions.
Maximizer has a long history in Vancouver dating back to 1995 when the Maximizer product line was acquired from Modatech by Multiactive Software. In 2002, in order to focus solely on CRM for SMBs and leverage the brand awareness of Maximizer, Multiactive changed its named to Maximizer Software.
To date, Maximizer Software has sold over one million licenses to more than 120,000 customers worldwide.