Bold Technologies and Perennial Software merge, both companies acquired

Bold to bring Perennial’s products under its umbrella
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Wednesday, July 11, 2018

COLORADO SPRINGS, Colo.—Bold Technologies, an alarm monitoring software provider, yesterday announced that it has completed a long-planned merger with Perennial Software, which provides business management software in the security industry. The companies will become one, with Bold bringing Perennial’s line of products, including SedonaOffice and AlarmBiller, under its umbrella.

To facilitate this merger, Bold and Perennial were acquired by EverCommerce, a multivertical service commerce platform. Perennial was acquired earlier this year in February, with Bold following on June 1.

"We are thrilled to bring these two powerhouse security companies under one umbrella at EverCommerce," Matt Feierstein, president and COO of EverCommerce, told Security Systems News in an email interview. "As a part of this platform, they can take advantage of shared efficiencies—financial resources, operational knowledge, and growth expertise—as they look to build their long term growth plans at scale. In addition, in terms of the merger, the synergies between the two companies are very exciting. From a market fit, product offering, and even management & operational expertise, these companies are a perfect complement to each other."

Bold and Perennial’s key management personnel will remain under the new EverCommerce acquisition in new roles. Rod Coles, the CEO of Bold Technologies, will become president of the newly merged company. Laurie Salim, president of Perennial, is now the VP of Operations of the combined company and Matt Narowski, VP of Operations for Bold, is now its VP of technology.

Coles said that the process behind the merger began with himself and Perennial founder Michael Marks wanting to grow their companies, but realizing that organic growth has its drawbacks. “We felt that we’ve got great platforms for the industry,” Coles told SSN. “We certainly felt that there was a play to bring these companies together and also to go on and do something really great within the industry.”

One of the benefits of working under EverCommerce is that while Bold and Perennial still maintain the feel of a small company, they have the support of a large company, Coles said. “We’ve now got a backer in the form of EverCommerce that’s going to push us to be the No. 1 most successful software company in the security industry.”

The merger will allow for more work between the companies, improving each company's products, as well as distinct benefits for users of both companies, Coles said. “We will have a roadmap that includes all of our products now, and there will be integration between the products,” he said. “Being able to see the whole picture is the biggest thing.”

Coles plans to share his vision for the new company along with immediate plans for the future at the 2018 Bold Users Conference taking place in Albuquerque, New Mexico, from July 31 to Aug. 2. “Bold customers and vendors and partners that have contacted me—it’s all been very positive,” Coles said. “I really do think it’s a win-win. That’s part of the reason I’m excited."