Apax completes Activant acquisition deal
Apax Partners completed the previously announced acquisitions of Epicor Software Corp. and Activant Solutions Inc.
Apax intends to combine Activant with Epicor to create one of the largest global providers of enterprise applications focused on the manufacturing, distribution, retail and services sectors. The combined company is now called Epicor Software Corp. The new Epicor has more than 33,000 customers in over 150 countries and more than $800 million in annual revenues.
"Bringing together two of the premier enterprise software companies creates a global market leader with deep expertise in the manufacturing, distribution, retail and services sectors,” said Jason Wright, a partner at Apax Partners. “Not only will customers and prospects benefit from a history of visionary innovation in business software and deep vertical industry expertise, but they will also benefit from the combined company’s increased scale and expanded service offerings.”
According to Apax, the combined company will benefit from economies of scale, as well as the ability to leverage highly complementary product lines, a broader channel partner program and an expanded geographic reach. Also, the combined company’s retail sector solutions now cover the full spectrum -- from small hardgoods retailers, to national specialty softgoods and apparel chains, to global general merchandise department stores.
Apax Partners has begun the process of integrating the two companies and expects to make further announcements on management team structure in the coming weeks.