Epicor Software Corp. has entered into a definitive agreement to be acquired by the global investment firm KKR from funds advised by Apax Partners. Financial terms of the transaction were not disclosed.
Epicor provides industry-specific solutions to customers in the manufacturing, distribution, and retail sectors. The industry-specific solutions are complemented by a team of industry experts that can provide knowledge of best practices for the industries that Epicor serves. With customers in more than 150 countries, Epicor provides solutions localized for specific markets so that as a company expands geographically, Epicor can help facilitate that growth.
“Our top priority continues to be delivering cloud-ready, market-leading solutions paired with a world-class customer experience,” said Joe Cowan, president and CEO of Epicor. “KKR shares our vision of providing innovative technology with a clear focus on helping customers grow business, not software. This is an exciting time for Epicor, and I am extremely appreciative of Apax’s support during the last five years.”
Cowan continued, “We are eager to work with KKR and believe their capabilities in the technology sector, both domestically and internationally, will enable us to find new ways to create value.”
The transaction is expected to close by the end of August, subject to customary conditions to closing, including regulatory approval.