The Pohlad family investment firm, which owns the Minnesota Twins, commercial real estate firms, auto dealerships and banks, has sold one of its few technology businesses, Avtex Solutions of Bloomington.
Pohlad Companies sold Avtex for an undisclosed sum to LaSalle Capital, a Chicago-based investment firm. Technology had not been a major thrust of the Pohlad investments, and Pohlad Cos. listed Avtex on its website under “other businesses,” along with J.B. Hudson Jewelers.
Avtex, founded in 1972, was bought by Pohlad Cos. in 2006.
“The sale of Avtex is a logical outcome of our strategic focus on financial services, commercial real estate, automotive sales, and sports and entertainment,” said Bert Colianni, CEO of the Pohlad’s Marquette Cos., in a statement.
Avtex, a reseller of software from Microsoft Corp. and Interactive Intelligence, also creates some of its own business programs. It has 160 employees, nearly all of them based in the Twin Cities.
Under LaSalle Capital, Avtex will continue to be based in the Twin Cities and the work force is expected to remain the same, Pohlad Cos. said.