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Avaya, a portfolio company of global private equity firms TPG Capital and Silver Lake, launched a stand-alone cloud-based communications platform-as-a-service (CPaaS) called Zang, which also allows users to easily and quickly create voice and SMS applications – whether for a mobile device, computer or integrated into traditional phone systems.  The announcement was made by Avaya at Enterprise Connect EC16 in Orlando, Fla. “QuickBase has cultivated a large, passionate customer base and sustained strong financial performance with 33 percent annual revenue growth over the past decade,” said Allison Mnookin, QuickBase newly appointed CEO. “QuickBase is led by a strong management team with a highly supportive customer base and a platform that has been changing the way businesses create and deploy applications,” said Michael Donovan, a WCAS general partner. “With increased focus and investment, such as doubling product development funding, the company can even better serve its customers and capitalize on the multi-billion dollar opportunity ahead.” According to a recent report by Forrester, this market is expected to grow to more than $15 billion in 2020, added the company. “I’m pleased we have found a home for QuickBase with a company that will invest in its future and provide the product support and service customers deserve,” said Brad Smith, chairman and CEO, Intuit. QuickBase has been a pioneer in the low-code platform space since 1999, enabling in-house developers to create and deploy business applications. Once the transaction is closed, Intuit will become one of QuickBase’s largest customers with more than 10,000 actively used apps, created without code and used across all employees and departments. The deal is subject to customary closing conditions, including requisite regulatory approvals, and is expected to close during the first half of 2016. Intuit announced the intention to divest the QuickBase business last August. Headquartered in Cambridge, Mass., QuickBase is focused on helping businesses of all sizes drive productivity and digitally transform their organizations. The platform’s unique low-code interface enables users to create custom applications faster and easier without learning code. QuickBase is used by more than 6,000 customers, including half of the Fortune 100, across a variety of industries and use cases. Intuit Inc. creates business and financial management solutions that simplify the business of life for small businesses, consumers and accounting professionals. Its flagship products and services include QuickBooks and TurboTax, which make it easier to manage small businesses and tax preparation and filing. Mint.com provides a fresh, easy and intelligent way for people to manage their money, while ProSeries and Lacerte are Intuit’s leading tax preparation offerings for professional accountants. Founded in 1983, and headquartered in Mountain View, Calif., Intuit had revenue of $4.2 billion in its fiscal year 2015. The company has approximately 7,700 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. The company has a market capitalization of $26.21 billion. Welsh, Carson, Anderson & Stowe focuses its investment activity on two target industries: technology and healthcare. Since its founding in 1979, WCAS has organized 16 limited partnerships with total capital of over $22 billion. WCAS has a current portfolio of approximately twenty-five companies. WCAS’s strategy is to partner with outstanding management teams and build value for its investors through a combination of operational improvements, internal growth initiatives and strategic acquisitions.]]>