John and Debbi Milner are going to Disney.
The co-CEOs of Jade Systems have sold the $100 million solution provider to Jerry Schmitt, president of Dempsey Business Systems, for an undisclosed amount and are taking their children on vacation, Debbi Milner said in an interview with CRN. "It will be the first time the children have had a vacation that does not revolve around the business. We plan on revitalizing ourselves, then taking a look at what's next for us," she said.
The Milners founded Jade Systems in 1993 and spent the rest of the decade building the privately held company into a nationally recognized solution provider. They sold 100 percent of the company's shares because they felt new leadership was necessary to complete its transition to a services-led organization, Milner said.
 Next up for Jade Systems' Debbi Milner: A family vacation to Disney. |
Ken Wasmer, managing partner of Wasmer Business Systems, has been a consultant during Jade Systems' transition from a product-based business into a more services-oriented company. He also helped Jade Systems find a buyer in Schmitt, who will run Dempsey Business Systems and Jade Systems as separate entities, Wasmer said.
Unlike many solution providers, Jade Systems increased revenue while shedding a lot of its product business in favor of higher-margin services. The company's sales increased to $108 million in 2001 from $68 million in 1999, according to VARBusiness (a CRN sister publication). The company declined to release its 2002 revenue.
Services accounted for 23 percent of the company's sales in January 2003, up from 3 percent in January 2001, said Wasmer. "Three years ago they didn't classify services as a separate line item. That gives you an indication of where they've come from," he said.
