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Elliott Associates, a major shareholder, has launched a tender offer to buy all share of Irvine, Calif.-based Epicor Software for $529 million.
Epicor's board rejected a $9.50 per share offer from Elliott, which has been pictured as a vulture fund in some press accounts. The stock had closed at $6.25 a share just before Elliott launched the tender offer, just before Epicor began its annual Perspectives user conference. At that conference, CEO Tom Kelly said he could not make any comments beyond Epicor's statements to the SEC.
SAGE CHOOSES CFO
Sage Software has named Marc Loupe as chief financial officer, replacing Jim Eckstaedt who was ousted in 2007.
Loupe, who was most recently SVP finance for Xoject, which provides global business aviation services, started in June, according to a prepared statement from Sage. The company also named Greg Hammermaster as the new president of the payments solution division. Hammermaster joined from SunTrust Banks, where he was senior vice president of commercial card and payment services.
CDC SOFTWARE NAMES PRESIDENT
Atlanta-based CDC Software, which markets products such as Ross Systems and Pivotal, has promoted Bruce Cameron, EVP worldwide sales and marketing, to the additional position of president.
Cameron came to CDC in 2004 with the acquisition of Pivotal when he became general manager. In September, the company said it expected adjusted EBITDA for the second half to range from $10 million to $10.5 million, compared to about $1.4 million in 2007's corresponding period.
ACCOUNTMATE POSTPONES CONFERENCE
AccountMate Software has postponed its Synergy reseller conference from March to October.
CEO David Dierke says the company wanted to be sensitive to ways it could help its resellers manage time and expenses. However, Dierke also said September sales were good for VAR s and that October had started out strong as well.
DELTEK PACKAGES SERVICE PLANS
Deltek, a Herndon, Va.-based company that markets accounting applications for project-based companies, has released four new package services plans.
These are designed to speed implementation and make engagements more predictable and cost-efficient. The plans are built around GCS Premier Billing Package Service, Costpoint Quickstart Implementation Service, Costpoint Upgrade Service and Deltek Performance Management Quick Start Service.
ACTIVANT HIRES TWO EVPS
Activant, which markets financial software in four specialized markets, has added two EVP positions to handle the company's wholesale distribution, hardlines and lumber segments.
Kevin Roach, previously president of Rockwell Software, has become EVP of the Yardley, Pa.-based wholesale distribution group, while Paul Salsgiver has assumed the same position for the hardlines and lumber group, based in
YOUNG JOINS HEALTHCARE GROUP
Two veterans of Great Plains/Microsoft Business Solutions have become officers of Lighthouse 1, a healthcare software company based in
The Fargo Forum, an area newspaper, reported that Jeff Young, formerly a corporate vice president at MBS has become president and CEO of Lighthouse 1, which is a sister of
KINTERA SUPPORT INCREASED
Blackbaud has increased the San Diego-based support staff of its Kintera division by 50 percent, although the company did not specify employee numbers.
Blackbaud, which purchased Kintera earlier this year, said this was the first phase and that it includes expanded training, the use of Blackbaud's support infrastructure, improved access to product and industry experts, and self-service options.
The company is also integrating the Blackbaud and Kintera support operations for better peak call load balancing between the company's