The intellectual property and assets of apparel business solutions supplier Essentus and its US subsidiary Essentus International have been bought by Jesta IS Inc for an undisclosed sum.

Jesta IS, part of the Jesta group of companies which provides capital to a range of companies and investors, is currently pursuing an aggressive global growth strategy. The group has made significant investments in technology companies, and says the acquisition of the Essentus business demonstrates its commitment to portfolio diversification and its confidence in a market poised for growth.

"With Essentus we feel we are poised for a successful future, one of continued growth in the marketplace," stated Elliot Aintabi, chairman of the board and CEO of Jesta. "We are committed to the continued development of Essentus products and will strive to be identified as thought leaders in the industry."

Essentus business and IT solutions are used by companies such as Perry Ellis International, Jones Apparel Group, Liz Claiborne, Guess? and Tropical Sportswear.

Leslie Belcher, president, added: "With Jesta supporting our commitment to supply chain management solutions, we can focus our efforts on promoting the Essentus and Fashionchain brands and providing the highest level of customer satisfaction. I am delighted that all former employees of Essentus have accepted positions with Jesta IS and our customers can look forward to seamless integration of the organisations."