GTCR acquired Innovative Systems and appointed Scott Alcott, former Comcast chief information officer, as CEO to lead the company's next growth phase. Innovative Systems offers integrated mission-critical operating and billing software (OSS/BSS), payments, and bill processing solutions for rural broadband and utility customers and was founded in Mitchell, South Dakota in 1998. The company entered a partnership with Datatel to combine IVR payment technology with its enterprise software to enable seamless, secure payment options. GTCR intends to leverage its experience in vertical market software, telecommunications infrastructure, and payments technology to expand the product suite through organic growth and acquisitions. No purchase price was disclosed.
Innovative Systems' differentiated, platform-based solution sets it apart from competitors, providing a seamless operational experience for rural broadband and utility customers,
We look forward to leveraging GTCR's expertise across vertical market software, telecommunications infrastructure and payments technology, working with Scott and the rest of the senior management team to strategically expand the Company and its unique product suite, both organically and through M&A.
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