NEW YORK, NY -- 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 completed the acquisitions of Epicor Software Corporation and Activant Solutions Inc. Apax Partners 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. Effective immediately, the combined company will be called Epicor Software Corporation. The new Epicor has more than 33,000 customers in over 150 countries and over $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.”
Combined Company Focused on Enhanced Customer Experience
Both Epicor and Activant have differentiated themselves in the respective industries they serve with a strict adherence to customer-focused values. This dedication has led to industry-leading customer retention rates above 90%. 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. Epicor's proficiency in the manufacturing and services sectors perfectly complements Activant’s market leadership in distribution.
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.
As both companies have demonstrated throughout their nearly 40-year history, 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; while providing a clear path to next generation capabilities and enabling technologies customers will need as their businesses evolve. Apax Partners will now begin the process of integrating the two companies. Further announcements on management team structure will be made in the coming weeks.