Boston, MA, September 2018 – JMC Capital Partners (“JMC”) is pleased to announce that its portfolio company Source Code LLC (“Source Code”) has completed the acquisition of certain assets of Add On Data. Headquartered in Waltham, MA, Source Code is a leader in the design and manufacture of dedicated servers for independent software developers, advanced artificial intelligence and deep learning applications, and a leading provider of IT services.
“We are very pleased to acquire the IT Business of Add On Data,” said Arthur Ataie, CEO of Source Code. “This acquisition strengthens our position in the medical field, enhances our presence here in Massachusetts, and continues our aggressive program of building our business both through acquisition and organic growth”.
“This acquisition, coming only 4 months after Source Code joined our portfolio, continues our strategy of aggressive growth”, said David Logan, JMC Operating Partner. “We are excited to execute another add-on acquisition that enhances our capabilities.”
About Source Code
Founded in 1992, Source Code is a leading manufacturer of custom built server and storage devices as well as a provider of IT services. Source Code ships thousands of server systems each month from various locations. The flagship facility in Norwood, Massachusetts, is being expanded and is ISO 9001:2008 certified. Corporate headquarters are in Waltham, MA. For more information, visit www.sourcecode.com.
Founded in 1999, JMC is a private equity firm that has adhered to a consistent approach and strategy focused around driving value through operational and strategic excellence in industrial products and technology focused companies. JMC’s partners come from operating backgrounds and have executed this strategy as owners and operators as well as investors. They are able to streamline the acquisition process, focus on the important outcomes, and provide rapid and timely transactions. For more information, visit www.jmccp.com.