A few weeks back, Insightful Accountant was the first to announce that MISys was taking the next big step in their company's history by transitioning from a manufacturing program geared toward desktop integration with accounting software to offering integration with QuickBooks Online as their first cloud-accounting interface. At a time when such a major change in focus was going on, another big change for MISys was also underway.
After 40+ years at MISys Manufacturing, my friend and MISys founder, Dave Brown has transitioned the company to employee ownership on his way to retirement. As of September 28, 2018 MISys is now a 100% employee owned company by way of an Employee Stock Ownership Plan (ESOP).
Ray Martell, the CFO of MISys said, “The ESOP was a natural next step for us, our employees have always held high standards when it came to software development and providing world-class support for our customers. As we look down the road, we believe that long term growth for both our employees and our customers is best served when all of us have a vested interest in success. An ESOP was the right choice for us.”
Insightful Accountant would like to congratulate the employees for taking on the company's ownership, and preserving the qualities that have made MISys one of the most special software products on the market. We also want to say, "a big thank you to Dave for all those years of giving MISys the heart and soul needed to serve its manufacturing clients so well."