Banneker Partners Acquires Xytech, a Global Leader in Integrated Facilities Management Solutions in Broadcast and Media
Strategic investment aligns with Banneker's philosophy of partnering
with strong operational management teams and industry-specific software platforms
San Francisco, January 5, 2022 — Banneker Partners (“Banneker”) announced that it has acquired Xytech, the global market leader in integrated facility management software for the broadcast and media industries. Over the course of its 33-year history, Xytech has grown organically and through targeted acquisitions, serving an international customer base with its innovative facilities management solutions.
"We are thrilled with this strategic investment as it allows us to accelerate Xytech's market penetration into the broadcast, media and related markets," commented Kenneth Frank, Partner at Banneker. "Our acquisition of Xytech aligns perfectly with our strategy of partnering with strong management teams and investing in their operational capabilities. Our investment will accelerate Xytech's go-to-market prospects, while ensuring continued innovation across its entire line of software products."
Xytech's best-of-breed software solutions help provide operational mastery and financial control to broadcast, media and post-production facilities around the world, helping its customers become more efficient and profitable. The company's innovative software combines custom configuration capabilities with the economies of a commercially available software package.
President and CEO of Xytech, Richard Gallagher, who will retain ownership and continue as CEO, said, “When I created Xytech, my primary goal was to bring facility management into the next generation to help media facilities — both large and small — be more efficient and productive. For more than three decades, this has been Xytech’s focus, and we are proud of what we have accomplished. Banneker, with its investment focus on software solutions aimed at specific verticals and willingness to invest to scale operational delivery, product innovation and sales and marketing, is the perfect partner for Xytech’s next stage of growth."
This investment in Xytech marks the continued focus of Banneker to find and invest in mission-critical industry specific software and create market leaders of scale. Banneker has deep experience in building industry-vertical operations software businesses through the acceleration of organic growth and highly strategic M&A, including companies such as LINQ, Routeware, Dairy.com, and Versaterm.
For more than 30 years, the world’s premiere media companies have depended on Xytech to run their businesses. MediaPulse is the only end-to-end solution for the complete content lifecycle. MediaPulse provides scheduling, automation, asset management, billing and cost recovery for broadcasters, media services companies and transmission facilities in a scalable platform-independent solution.
For more information, visit xytechsystems.com.
About Banneker Partners
Banneker Partners invests in growing, mission-critical software businesses to drive long-term, sustainable value. Banneker collaborates with management teams through capital, strategic, and operational support to enable accelerated growth guided by the focus on enhancing value to the end customers of the software. The six partners at Banneker have over 130 years of software investing and operating experience and have worked with companies ranging from $1 million to $1 billion in revenue.
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