Apr. 4, 2011 (PR Newswire) --
NEW YORK, April 4, 2011 /PRNewswire/ -- Funds advised by Apax Partners, one of the world's leading private equity firms, with a strong heritage of technology investment, today announced that they have entered into definitive agreements to acquire Epicor Software Corporation (NASDAQ: EPIC), a leading provider of enterprise business software solutions for the midmarket and divisions of Global 1000 companies, and Activant Solutions, Inc., a leading technology provider of business management software solutions for mid-market retail and wholesale distribution businesses. The combined transaction is valued at approximately $2 billion.
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. It will have over 30,000 customers and $825 million in annual revenues.
"We are extremely excited to be bringing together two premier enterprise software companies through this innovative transaction to create a global market leader," said Jason Wright, a Partner at Apax Partners. "Epicor is a true innovator, offering deep industry-specific functionality globally across its targeted verticals. Activant is a recognized leader in providing comprehensive ERP and Point-of-Sale software to the distribution and retail markets predominately in North America.
"In addition to the immediate product and service portfolio enhancements that will result from the combination, both companies' customers will benefit from the strong financial backing of Apax Partners and our commitment to building the new Epicor into the global leader for enterprise business applications," continued Wright.