Epicor Software Corporation and Activant Solutions Inc. have been acquired by Apax Partners, a private equity firm. Apax Partners intends to combine Activant with Epicor to create a global provider of enterprise applications focused on the manufacturing, distribution, retail and services sectors, according to a press release. Effective immediately, the combined company will be called Epicor Software Corporation.
California-based Epicor Software Corporation has nearly 40 years of experience serving midmarket organizations and divisions of Global 1000 companies. Epicor serves more than 33,000 customers in 150+ countries. Epicor’s solutions include: enterprise resource planning (ERP), point of sale (POS), supply chain management (SCM), and human capital management (HCM). Customers include: Aeropostale, Wet Seal, Gymboree and American Eagle.
"This merger is extremely positive for Epicor's customers, employees and shareholders alike," said George Klaus, Epicor Chairman, President and CEO, in a press release. "It offers great value to our current stockholders and represents an endorsement of the business strategy, products and technology leadership we have established in the market.”
Klaus also noted that, with the addition of Activant, the combined company will have more than $825 million in annual revenues.
The Wall Street Journal reported that sales at Epicor have improved, as businesses have started to spend more on software. Its latest fourth-quarter profit narrowed on higher costs, though the top line continued to grow, according to the Journal.
Emphasizing Customer Experience Built on a strict adherence to customer-focused values, Epicor Software Corporation 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. Additionally, 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.
The new Epicor is committed to continuing its customer-focused product strategy and protecting customers’ investment in their products. With very little overlap in product offerings and complementary product strategies, Epicor will continue to enhance the joint product lines with new features and functionality, the company said.