CLEAR LAKE | A Minneapolis software company has acquired TeamQuest in Clear Lake.
Officials from HelpSystems are now at TeamQuest to share the news with employees and start planning the transition.
HelpSystems CEO Chris Heim told the Globe Gazette if company officials didn't think they could grow TeamQuest, "we would not have bought it."
He said there are no plans to close the Clear Lake office, noting HelpSystems has made 20 acquisitions over the years and has 20 offices throughout the world.
Heim said TeamQuest CEO Paul Hesser and Chief Financial Officer Clay Anderson have left to pursue other opportunities.
He said there may be other redundancies in positions between the two companies, so some TeamQuest employees may be let go.
However, Heim said the company also plans to hire additional employees in new positions.
The first priority is go grow the company, according to Heim.
The goal is to "return it (TeamQuest) to its glory days," Heim said.
"We look forward to being a good citizen in Clear Lake," he added.
TeamQuest was founded 25 years ago in Clear Lake to develop software for mainframe systems while also developing and selling products for distributed, virtual and cloud-based platforms.
TeamQuest laid off 32 employees earlier this year due to a decline in the company's software development for mainframe structures.
In an interview with the Globe in March, Hesser said the mainframe segment has been in decline, driven by the market adoption of more modern technologies.
Hesser said TeamQuest officials were confident their recent changes in its product line and other changes throughout the organization would have "a dramatic, positive and sustainable effect on the future of our company."
Mike Devine, vice president of marketing for HelpSystems, said the TeamQuest name is not changing, at least for now.
"Over time we will see if it helps the TeamQuest business to co-brand with HelpSystems, but for the foreseeable future, it will stay TeamQuest."
The TeamQuest executive office is located in Minneapolis, but the development lab is still in Clear Lake.
TeamQuest currently has around 100 employees at its various locations, which includes its smaller offices in Minneapolis; Ottawa, Canada; and Gothenburg, Sweden.
HelpSystems officials say the acquisition broadens their company's hallmark IT operations management portfolio with solutions that fit regardless of operating system.
“Moving from reactive to proactive IT management is a major initiative for organizations today,” Heim said. “By bringing TeamQuest into the family, we enrich the company with a remarkable amount of expertise and great products to help organizations make sure their IT environment is stepping up today – and tomorrow.”
Dan Mayleben, CFO of HelpSystems, said the company is impressed with TeamQuest's prouduct line and is committed to continue investing in it.
“TeamQuest has a strong history of listening to its customers and taking good care of them and we look forward to continuing that tradition as this becomes a critical part of our fast-growing software company," he said.
HelpSystems aligns IT and business goals to help organizations build a competitive edge, according to a press release from the company.
Its software and services monitor and automate processes, encrypt and secure data, and provide easy access to the information people need, officials say.
More than 10,000 organizations around the world rely on HelpSystems to make IT lives easier and keep business running smoothly, according to the press release.