WINNIPEG, MAN. – DMT Development Systems Group says a significant capital investment from a major U.S. private investment firm will fund software product expansion and help grow the team in North America and Europe.
The cash influx, courtesy of a deal with Sageview Capital, marks the first outside funding in the 20-year history of DMT.
“Our mission has always been focused on helping our clients succeed by offering exceptional products, and responsive customer service,” said DMT founder Glen Demetrioff.
“We’ve built a thriving, growing business and we’re ready for the next level.”
Demetrioff said the investment will increases DMT’s ability to “supercharge” its R&D efforts and fast track the development solutions in the area of real-time communication.
The company also expects to hire more than 30 new staff for research and product development, and to continue its international market expansion, including new offices in Europe and North America.
As part of this investment, Sageview Capital partners Scott Stuart and Jeff Klemens have joined the DMT board of directors, which also includes Demetrioff, Sharon Demetrioff, co-founder; and Don Lundgren, principal of INSI Management Services.
The controlling majority of DMT resides with the founders with Sageview holding a minority stake.