Goldman Sachs invests $30M in Harwich-based tech firm

The New York-based investment bank Goldman Sachs Group agreed to invest $30 million in Back Office Associates, the global data solutions provider headquartered in South Harwich. The infusion of cash will enable the firm to continue its expansion and bring dozens of professional-level jobs to Lower Cape Cod, said Patricia Kennedy, president and CEO.

Back Office today employs 300 people - two-thirds of them as data migration consultants assigned to clients in other states and countries. The 11-year-old firm, owned by Kennedy and her husband, Tom Kennedy, specializes in SAP data quality solutions and works mainly with Fortune 500 companies. SAP stands for Systems Applications and Products in Data Processing. Essentially, Back Office takes data from old computer systems, reformats it, cleans it up and gets it ready for new, integrated systems.