EPICOR TO BE ACQUIRED
Irvine, Calif. - Epicor Software Corp. has entered into an agreement to be acquired by London-based private equity firm Apax Partners, with the intent to combine the ERP software developer with business management software provider Activant Solutions Inc.
Under the agreement, Apax will commence a tender offer to acquire all of the outstanding common stock of Epicor for $12.50 per share in cash - or approximately $976 million. In addition, Apax entered into an agreement to acquire Activant with the intent to create one of the largest global providers of enterprise applications focused on the manufacturing, distribution, services and retail sectors. Following completion of the merger, the combined company will be known as Epicor Software Corp. and will no longer be publicly traded.
The combined company is expected to have over 30,000 customers, and $825 million in annual revenues.
Under the terms of the agreement, the company was free to solicit superior proposals from third parties for a period of 30 calendar days through May 4.
BILL.COM GOES MOBILE
Palo Alto, Calif. - Cloud-based bill payment service Bill.com has officially released Bill.com Mobile, allowing users of any smart phone or Web-connected mobile device to review and approve bills, schedule payments from an authorized bank account, and access all their Bill.com accounts from a single dashboard. Bill.com Mobile is included as part of the Business Bill Payment service at $19.99 per month, and of the Business Bill Payment and Online Invoicing service at $24.99 per month.
CYMA RELEASES PAYROLL AND HR REPORTING TOOL
Tempe, Ariz. - Accounting software developer CYMA Systems has released CYMA Business Insight, a Microsoft Excel-based financial reporting tool that integrates with CYMA's existing payroll and HR database to allow users to extract wage, benefit, tax and other labor costs for reporting purposes.
DELTEK OFFERS BUSINESS INTELLIGENCE FOR PROFESSIONAL SERVICES FIRMS
Herndon, Va. - Enterprise resource planning software maker Deltek Inc. has released a new version of Deltek Maconomy Analytix, a business intelligence product aimed at professional services firms that integrates with the Deltek Maconomy enterprise resource planning system. The new product is designed to provide accounting firms, consultants, research organizations and law firms with live business reporting, an ad hoc query tool, and analytical capabilities. It also offers an interface with formatting capabilities and a Microsoft Office toolbar.
A cross-industry group of customers have been using the new release of Maconomy Analytix to test the capabilities that helped define the new version of the business intelligence system.
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