MISys, Inc. Becomes 100% Employee Owned Through Employee Stock Ownership Plan
Vermont software firm announces ESOP to achieve long-term growth through investment in software development, company's people, customers, and next generation management model.
WOODSTOCK, Vt., Oct. 4, 2018 -- Manufacturing Information Systems, Inc. (MISys), a leading manufacturing software solutions company based in Woodstock, VT has announced that the firm is now sharing beneficial ownership with employees by becoming 100% owned by an Employee Stock Ownership Plan (ESOP) Trust. As an employee-owned company, MISys, Inc. will continue to operate under the same business model.
"The ESOP was a natural next step for us," said Ray Martell, CFO of MISys. "Our employees have always held high standards when it came to software development and providing world-class support for our customers. As we look down the road, we believe that long term growth for both our employees and our customers is best served when all of us have a vested interest in success. An ESOP was the right choice for us."
ABOUT MISys, Inc. MISys, Inc. has been a leader in the manufacturing software industry for more than 25 years. The comprehensive MISys Manufacturing software integrates with the most widely used accounting programs to form best-of-breed solutions for small to medium-sized manufacturers. While the majority of the 8,000 software installations are in North America, MISys has customers throughout Africa, Australia and the Far East, a total of 52 countries. Software development, technical support, customer service and sales and marketing activities are all based in Woodstock, Vermont.
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