A private equity firm has acquired Epicor Software and Activant Solutions, with plans to merge the two software companies into one of the world's largest enterprise application vendors.
In a statement on Monday, Apax Partners said the two acquisitions have a combined value of $2bn (£1.22bn). The merged entity is expected to become one of the biggest global providers of enterprise applications focused on the manufacturing, distribution, services and retail sectors, with over 30,000 customers and $825m in annual revenues. It will be named Epicor Software Corporation and become a privately held company.
According to the Associated Press, Apax offered $12.50 a share for Irvine, California-based Epicor, which represents an 11.2-percent premium on the stock's closing price on Friday. The Epicor deal alone is valued at about $800m, the AP reported.
For more on this ZDNet UK-selected story, see Private equity firm buys Epicor, Activant on ZDNet Asia.
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