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Activant to merge with Epicor Software Corp.

Livermore, Calif.-based Activant is expected to merge with Epicor Sofware Corp. as part of a deal in which Apax Parnters acquires both of the software solutions providers. 

Following completion of the merger, the combined company will be called Epicor Software Corp.

Apax Partners is private equity firm with a specialty in technology investment, according to a press release announcing the acquisition. 

According to Pervez Qureshi, Activant president and CEO, the new entity can now cover the full spectrum of retailing.

"This transaction is extremely positive for Activant’s customers, employees and investors alike," he said. “Our market leadership and expertise in distribution perfectly complements Epicor’s expertise in the manufacturing and services sectors."

The combined company will have more than 30,000 customers and $825 million in annual revenues, he added. 

Under the terms of the agreement, all of Activant’s outstanding shares and stock options will be acquired for cash. Upon completion of the transaction all of Activant’s outstanding 9-1/2% Senior Subordinated Notes will be redeemed and Activant’s senior secured indebtedness will be repaid.

The deal is expected to be closed by the end of the second quarter. 

 


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