ERP software providers Activant Solutions Inc., Livermore, CA, and Epicor Software Corp. (NASDAQ: EPIC), Irvine, CA, have agreed to be acquired by private equity firm Apax Partners in a transaction valued at $2 billion.
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Apax intends to combine Activant and Epicor to create one of the largest global providers of enterprise applications focused on the manufacturing, distribution, services and retail sectors. Following completion of the merger, the combined company will be named Epicor Software Corporation and will no longer be a publicly traded company.
\”Both Epicor and Activant’s customers will benefit from the combined entity’s increased scale, solutions portfolio and expanded service offerings,\” said Jason Wright, a partner at Apax. \”Epicor will have access to additional domain expertise, particularly in wholesale distribution and automotive, hardlines, lumber and specialty retailing, while Activant will benefit from an accelerated roadmap to international operations, softlines retail functionality, and additional supply chain and manufacturing capabilities.\”
The combined company will have more than 30,000 customers and $825 million in annual revenues.