AlphaPoint Technology, a small public company (APPO) based in Sarasota, Fla. has acquired Minneapolis-based N'compass Solutions Inc., a software and services company in a deal valued at approximately $4.8 million.
AlphaPoint Technology provides data center and information technology asset management software. Their stock is not listed on a major exchange and trades sporadically, it currently trades at 20 cents per share.
In a news release, the company said the acquisition of N'compass will advance the capabilities of AlphaPoint's AssetCentral software.
N'compass will become a wholly owned subsidiary of AlphaPoint and keep its operations based in Minneapolis. As part of the deal N'compass president and CEO Chris Flaherty becomes president of AlphaPoint and Chief Information Officer Christopher Pinc assumes the sale role with Alphapoint. Both will join the board of directors.
Flaherty founded N'compass in 2000 and the company has over 60 clients.
Kristi Paul and Keith Meierhofer of N'compass will also join the AlphaPoint leadership team.
Gary MacLeod, CEO of Alphapoint, said in a statement "N'compass has more than 14 years of strategic IT expertise that they have tapped to create a very unique software platform."