Asure Software Completes Acquisition

Asure Software Inc said Wednesday it has completed its acquisition of iSystems Intermediate HoldCo, LLC from private equity firm Silver Oak Services Partners, LLC.

It paid $55 million, including $32 million in cash, $18 million of ASUR unregistered common stock, and a $5 million seller note. In connection with the consummation of the acquisition of iSystems, Asure has agreed to appoint Dan Gill, founder and co-managing director of Silver Oak Services Partners and the majority owner of iSystems, to the Asure board of directors, effective June 6. ASUR shares inched higher in recent trading.

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