Visitor management software developer STOPware, Inc. announced this week that ownership of the company has changed hands from Brady Corporation back to its prior owner and original founder Paul Terschuren.
According to a statement, Brady decided to divest ownership of STOPware following a mutual agreement between the parties that the company’s “future vision” would be best enabled under Terschuren’s leadership moving forward.
Terschuren previously ran STOPware as a standalone entity and continued to run the business as part of the Brady portfolio when the company was acquired in August 2005. He will revert to being the sole owner of the business under this deal, the terms of which were not disclosed.
“Although there were some synergies with the identification and access control products Brady offers, running an entrepreneurial software company under such a large corporate structure proved to have some limitations,” said Terschuren. “We need to stay agile in the visitor management software space in order to stay ahead of market demands and customer needs.”
STOPware characterized the move as a “win-win” for both companies, with STOPware moving forward with an aggressive focus on visitor management while Brady will direct its efforts on growth objectives in the identification and access control market. Brady will continue to partner with STOPware as a member of its distributor network. STOPware’s corporate office and staff will remain in San Jose, Calif.
