Glaston Sells Albat+Wirsam to Friedman Parent Company
November 12, 2012
Glaston Corp. announced it has reached an agreement to sell its Albat+Wirsam Software subsidiary to Constellation Software Inc., parent company of industry software supplier Friedman Corp. The value of the deal is estimated at EUR 18 million (about $23 million) and is expected to close by the end of the year.
Headquartered in Linden, Germany, A+W develops and markets ERP, production planning and scheduling, and optimization software solutions for the glass, window, door and curtain-wall industries. Glaston announced in October that it was looking to sell the business so it could focus solely on the glass processing machinery market.
As a result of the purchase, the A+W business will become part of Constellation’s Friedman Operating Group. A+W will operate as an independent division of Friedman, and will continue to develop, enhance, and market their glass and fenestration industry software solutions worldwide, according to a November 12 Glaston release.