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Vista Equity Partners to Acquire Xactly for $564M

Vista Equity Partners to Acquire Xactly for $564M

Forbes. Xactly stockholders will receive $15.65 in cash per share, representing a 17% premium to the closing price as of May 26, 2017 and a 31% premium compared to its 3-month volume weighted average price per share. “This announcement represents a very positive event for our stockholders and enables Xactly to build upon its successful 12-year history,” said Christopher W. Cabrera, founder and CEO of Xactly Corporation. “We are confident that Vista is the ideal partner to accelerate our growth initiatives and enable Xactly to focus on innovation and customer success while forging a new era of incentive compensation management.” “Xactly’s market leadership in cloud incentive compensation solutions makes it an ideal addition to the Vista family of companies,” said Brian Sheth, Co-Founder and President of Vista Equity Partners. “We are looking forward to bringing Vista’s resources and expertise to help drive Xactly’s next phase of innovation and growth.” Xactly’s headquarters will remain in San Jose. The deal is expected to close in the third quarter of 2017, subject to customary closing conditions, including the approval of Xactly’s stockholders and antitrust approval in the United States. JP Morgan Securities LLC is acting as exclusive financial advisor and Wilson, Sonsini, Goodrich & Rosati PC, is serving as legal advisor to Xactly. Vista’s legal advisor is Kirkland & Ellis LLP. As reported by ExitHub earlier this year, Vista agreed to acquire Toronto-based global FinTech leader DH Corp (TSX: DH) known as D+H, for an enterprise value of $4.8 billion. Last December, Vista’s Calif.-based portfolio company PowerSchool agreed to acquire the SunGard K-12 business from FIS (NYSE: FIS), for $850 million. In September, Vista agreed to acquire digital marketing platform GovDelivery for $153 million, as well as Santa Clara, Calif.-based cyber-security company Infoblox Inc. (NYSE: BLOX) for $1.6 billion, Photo: Robert F. Smith, founder, chairman and CEO of Vista Equity Partners. (Bloomberg/Getty Images)]]>

Amdocs $DOX Acquires Vindicia, Brite:Bill and Pontis for $260M

Amdocs $DOX Acquires Vindicia, Brite:Bill and Pontis for $260M

Amdocs (NASDAQ: DOX), a leading provider of customer experience software solutions for communications, entertainment and media service providers, said it has closed the acquisition of three privately owned companies – Vindicia, Brite:Bill and Pontis – in line with the company’s digital strategy. The three similarly priced companies were acquired for a combined amount of approximately $260 million in cash, including certain small earnouts. “Communication and media service providers, including those with over-the-top offerings, are transforming to capture the world of on-demand services and digital immediacy. When combined with business-driven analytics behind the scenes, this ensures a simplified, intuitive and engaging customer experience,” said Amdocs president and CEO Eli Gelman. “These acquisitions, alongside Amdocs’ existing platforms which include multi-channel, digital care and commerce, customer management and big data analytics solutions, position Amdocs as the market leader to help communication and media providers on their journey,” Gelman continued. Silicon Valley-based Vindicia is a market-leading provider of software-as-a-service (SaaS) subscription management and payment solutions. Vindicia makes it easy, flexible and frictionless for digital enterprises to onboard customers and process payments for digital content, over-the-top (OTT) entertainment, online subscriptions and on-demand services. Utilizing cloud-based operations for greater business agility, Vindicia’s ultra-fast time to market allows customers to easily experiment with various service offerings and pricing schemes to quickly introduce offers and attract new users. In addition, Vindicia’s advanced retention capabilities reduce user churn and increase top-line revenue for online service providers. Dublin, Ireland-based Brite:Bill‘s design-led, user-experience experts turn the customer bill into a unique, customer-centric engagement channel. Brite:Bill’s technology and services transform invoices into a personalized, digital, interactive billing experience in the channel of the customer’s choice. The invoice’s customized and engaging design reduces customer confusion around the bill, thereby cutting service provider costs around inbound inquiries, and also provides an engagement opportunity for service providers to promote new services. Tel Aviv-based Pontis, is a leading provider of contextual digital engagement solutions. Pontis’s real-time decisioning and learning technology enables service providers to offer their customers personalized contextual interactions relevant to where that individual customer is in their journey with the service provider. With Pontis, Amdocs is uniquely positioned to help service providers determine the next best action for customer engagement and then to offer the customer, across outbound and inbound channels, the most appropriate service at the right time and the right touch point. The impact of these acquisitions on Amdocs’ diluted non-GAAP earnings per share is expected to be neutral in fiscal 2017. Together, these acquisitions are expected to contribute 1.5% to 2.0% to total company revenue for the full fiscal year 2017. The Yellow Pages Years (1982-1990) Amdocs developed the first automated system for directory publishers, which put the customer, not the phone number, at the center. The 1984 breakup of AT&T led to Amdocs sealing a crucial win with Southwestern Bell (SBC) Yellow Pages, entering the US market and becoming the world leader in the Yellow Pages space. “I’ve always been proud of my long association with Amdocs, but it’s a special privilege to be at the helm as the company celebrates its 30th anniversary,” said Gelman. “In some aspects, Amdocs has changed beyond all recognition over the past three decades.”

“When I joined in 1987 as a team leader, managing two people, we were still a small, young company, focusing on one application/business area – Yellow Pages.” –Eli Gelman, Amdocs President & CEO
Amdocs Today “Today we’re a global company with over 250 service provider customers, offices in some 60 countries and a workforce of over 19,000 employees. But in one crucial area we have not changed: the determination of our employees to ensure the success of whatever project they’re working on, at any particular time,” Gelman concluded. Amdocs is a market leader in customer experience software solutions and services for the world’s largest communications, entertainment and media service providers. For more than 30 years, Amdocs solutions, which include BSS, OSS, network control, optimization and network functions virtualization, coupled with professional and managed services, have accelerated business value for its customers by simplifying business complexity, reducing costs and delivering a world-class customer experience. Last year Amdocs acquired a substantial majority of Comverse Inc.’s (NASDAQ:CNSI) business support systems (BSS) business unit assets for $272 million. Comverse was originally founded in Israel as Comverse Technology in 1997, becoming one of Israel’s flagship high-tech companies. Its BSS asset sale to Amdocs was part of a multi-step divestment plan. The Amdocs portfolio enables service providers to capture the world of digital immediacy by operating across digital dimensions to engage customers with personalized, omni-channel experiences. Amdocs and its more than 24,000 employees serve customers in over 90 countries. The company is headquartered in Chesterfield, Missouri. Amdocs had revenue of $3.6 billion in fiscal 2015, and has a current market capitalization of over $9 billion. HeritageBrand-Infographic_v09 Photo: Eli Gelman, Amdocs President & CEO.]]>

$KKR to Acquire @Epicor Software From @Apax_Partners, Deal Said for $3.3B

$KKR to Acquire @Epicor Software From @Apax_Partners, Deal Said for $3.3B

ongoing efforts to sell Epicor were reported by ExitHub in June. A few days ago, KKR was said to have made a buyout bid in excess of $10 billion for iconic motorcycle manufacturer Harley-Davidson (NYSE: HOG). The move comes amid a recent flurry of business software company buyouts. A month ago, New York-based private equity firm Thoma Bravo LLC agreed to acquire Qlik Technologies Inc. (NASDAQ: QLIK), a leader in visual analytics and data visualization, for $3 billion. In May, Israeli enterprise software solutions provider NICE Systems (NASDAQ: NICE) agreed to acquire Salt Lake City, Utah-based inContact Inc. (NASDAQ: SAAS), a leading provider of cloud contact center software, for $940 million. In late March, Vista Equity Partners agreed to acquire San Mateo, Calif.-based marketing automation platform Marketo Inc. (NASDAQ: MKTO), for $1.79 million. Founded in 1972, Epicor has over 33,000 customers in more than 150 countries around the world. Epicor provides industry-specific business software designed around the needs of manufacturing, distribution, retail, and services organizations. Epicor provides enterprise resource planning (ERP), customer relationship management (CRM), supply chain management (SCM), and human capital management (HCM) software to business customers in both Software as a Service (SaaS) and On-Premises deployment models. “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.” “KKR is very pleased to be partnering with Epicor to accelerate its next phase of global growth,” said Herald Chen, member of private equity and head of technology at KKR. “Through a world-class Epicor team, leading cloud-ready technologies and a keen focus on its customers, the company is in tremendous position to build on its long history of success.” Jason Wright, a partner at Apax Partners, said, “We are proud of our collaboration with Epicor to build one of the largest global providers of enterprise applications differentiated by a focus on the customer and deep industry expertise. Through its unwavering focus on driving growth for its customers, Epicor, led by President and CEO Joe Cowan, grew organically and also expanded through strategic acquisitions. Our partnership with Epicor exemplifies Apax’s strategy of helping companies strengthen their leadership positions and accelerate their growth.” KKR is primarily making the investment from its eleventh Americas Private Equity investment fund. Morgan Stanley & Co. LLC and RBC Capital Markets served as financial advisors to KKR on the transaction. BofA Merrill Lynch and UBS Investment Bank served as financial advisors to Epicor. The transaction is expected to close by the end of August, subject to customary conditions to closing, including regulatory approval. KKR, founded in 1976 and headquartered in New York City, is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world‐class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners’ capital and brings opportunities to others through its capital markets business. As of December 31, 2015, the firm had $120 billion in assets under management. Apax Partners, headquartered in London, is an independent global partnership focused solely on long-term investment in growth companies. the firm typically invests in large companies with an enterprise value between €1bn and €5bn, in four sectors: Tech & Telco, Services, Healthcare, and Consumer. The firm has a global network of 8 offices in four continents and employs over 230 people. At December 31, 2015, the firm, including its various predecessors, have raised approximately $38 billion (€35bn) dating back to 1969. Apax Partners is one of the oldest and largest private equity firms operating on an international basis. In April 2011, Apax acquired both Epicor (formerly NASDAQ: EPIC) and business management software provider Activant Solutions Inc., in a deal valued at $2 billion, and combined the two companies. Apax invested $647 million equity into the deals, an SEC filing said. In 2014, Apax explored the sale of Epicor, but ultimately chose not to sell, turning down offers it deemed too low from bidders including CVC Capital Partners. Some bids were around $3 billion including debt, the Journal reported. In May 2015, Epicor was in the market with “a $1.4 billion covenant-lite term loan that is part of a $1.5 billion dividend recap credit,” Thomson Reuters Loan Pricing Corp said. Proceeds were to be used reportedly to refinance and recap Epicor’s existing debt as well as pay a distribution to its parent Apax. Standard & Poor’s said the dividend to Apax was $300 million, on top of a $380 million distribution Epicor made to Apax in June 2013. The $680 million dividend was greater than the $647 million it invested. Apax reportedly received a third dividend from Epicor RSG US Inc., a business unit which was reportedly spun off into a separate, privately held company backed by Apax, Moody’s said in May 2015.]]>

$KKR to Acquire @Epicor Software From @Apax_Partners, Deal Said for $3.3B

@Apax_Partners Said to Seek Exit for @Epicor Enterprise Software

UPDATED July 6, 2016.

Private equity firm KKR & Co. L.P. (NYSE: KKR) agreed to acquire Epicor in a deal reportedly valued at $3.3 billion


Private equity firm Apax Partners is said to be exploring an exit strategy for its Austin, Texas-based global enterprise software portfolio company Epicor Software Corp., The Wall Street Journal reported. The move comes amid a recent flurry of business software company buyouts. Less than a month ago, New York-based private equity firm Thoma Bravo LLC agreed to acquire Qlik Technologies Inc. (NASDAQ: QLIK), a leader in visual analytics and data visualization, for $3 billion. In May, Israeli enterprise software solutions provider NICE Systems (NASDAQ: NICE) agreed to acquire Salt Lake City, Utah-based inContact Inc. (NASDAQ: SAAS), a leading provider of cloud contact center software, for $940 million. In late March, Vista Equity Partners agreed to acquire San Mateo, Calif.-based marketing automation platform Marketo Inc. (NASDAQ: MKTO), for $1.79 million. Founded in 1972, Epicor has over 33,000 customers in more than 150 countries around the world. Epicor provides industry-specific business software designed around the needs of manufacturing, distribution, retail, and services organizations. Epicor provides enterprise resource planning (ERP), customer relationship management (CRM), supply chain management (SCM), and human capital management (HCM) software to business customers in both Software as a Service (SaaS) and On-Premises deployment models. Epicor chief executive Joe Cowan said the interest from private-equity buyers is “no surprise” given the company’s “strong performance and market leadership,” according to the Journal. “We’ll consider those expressions of interest. As we do so, we’ll be guided by what makes the most sense for the company and our customers.” Apax Partners, headquartered in London, is an independent global partnership focused solely on long-term investment in growth companies. the firm typically invests in large companies with an enterprise value between €1bn and €5bn, in four sectors: Tech & Telco, Services, Healthcare, and Consumer. The firm has a global network of 8 offices in four continents and employs over 230 people. At December 31, 2015, the firm, including its various predecessors, have raised approximately $38 billion (€35bn) dating back to 1969. Apax Partners is one of the oldest and largest private equity firms operating on an international basis. In April 2011, Apax acquired both Epicor (formerly NASDAQ: EPIC) and business management software provider Activant Solutions Inc., in a deal valued at $2 billion, and combined the two companies. Apax invested $647 million equity into the deals, an SEC filing said. In 2014, Apax explored the sale of Epicor, but ultimately chose not to sell, turning down offers it deemed too low from bidders including CVC Capital Partners. Some bids were around $3 billion including debt, the Journal reported. In May 2015, Epicor was in the market with “a $1.4 billion covenant-lite term loan that is part of a $1.5 billion dividend recap credit,” Thomson Reuters Loan Pricing Corp said. Proceeds were to be used reportedly to refinance and recap Epicor’s existing debt as well as pay a distribution to its parent Apax. Standard & Poor’s said the dividend to Apax was $300 million, on top of a $380 million distribution Epicor made to Apax in June 2013. The $680 million dividend was greater than the $647 million it invested. Apax reportedly received a third dividend from Epicor RSG US Inc., a business unit which was reportedly spun off into a separate, privately held company backed by Apax, Moody’s said in May 2015.]]>