A Charlottesville tech company is eyeing expansion after being bought up by a multibillion-dollar investment firm, but the sell-off will also allow another downtown company to grow.
The 10th largest software company in the world is taking over Silverchair Learning Systems. The tech company's president says this acquisition will allow it to grow like crazy.
Silverchair Learning Systems employs about 60 people in the Inova Solutions building along the Belmont Bridge and another 20 in North Carolina. The company develops online training and education programs for senior care providers nationwide.
Silverchair Learning Systems' President Mike Mutka says the company started seeking investors about six months ago to encourage expansion. Vista Equity Partners won out.
"A big part of what we wanted with Vista was not just finance, because we can get the finance anywhere," said Mutka. "But we wanted the expertise that they have. They've been there and done that with other companies, and they have a great track record in helping them, so we feel like they can really help us going forward."
Silverchair Learning Systems now plans to double in size over the next five years, adding jobs in Charlottesville.
The learning division's former parent company - Silverchair Holdings on the downtown mall - says the sell-off gives it the boost of cash to expand as well. The company is developing new software and added 37 jobs so far this year.
