ECI Software Solutions has settled its lawsuit against Prosperity Computer Solutions, LLC and, in connection with the settlement, has agreed to acquire substantially all of the assets of Prosperity, a software company serving the lumber, building materials and hardlines industry. Prosperity will become part of ECI’s LBMH Group.
ECI’s suite of solutions for the LBMH industry equips lumber and hardware retailers with business management software to sustainably grow their businesses. It includes industry-specific POS and ERP systems that bring business functions together in one cloud-based software to improve efficiency and increase profitability.
“ECI has a longstanding commitment to the LBMH industry, providing solutions that have moved businesses forward since 1985,” said Ron Books, CEO of ECI Software Solutions. “We’re excited to welcome Prosperity’s customers as we chart our course forward.”
“With the ever-changing demands on independent software vendors, we feel that our customer base will be uniquely positioned for long-term sustainable growth as part of the ECI family,” said Wade Frazier, president of Prosperity. “We are confident this is the best outcome for all parties involved, most importantly the Prosperity customers now joining ECI.”
Prosperity was founded in 2016 by Frazier and several former ECI employees and staff, who developed a unique on-premise software solution known as “ProsperityERP” that was custom-built for the LBM and hardlines vertical market.
“Prosperity’s customers and employees are best served by a company like ECI that has a thorough understanding of the lumber, building materials and hardlines industries and that can quickly adapt to changing market needs,” said Greg Matatall, special advisor to Prosperity. “Working closely with the ECI team, I am confident that Prosperity customers and employees are in good hands and we expect this to be a seamless transition.”
The deal closed on June 5 and terms were not disclosed.