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Epicor

Topic: Company

 From HandWiki - Reading time: 6 min
Short description: U.S. software company
Epicor
TypePrivate
IndustryComputer software
Founded1972
HeadquartersAustin, Texas
Key people
Steve Murphy (CEO)
Lisa Pope (President)[1]
ProductsERP, Retail Software
RevenueUS $1.05 billion FY 2022
OwnerCD&R
Number of employees
4,600
Websitewww.epicor.com

Epicor Software Corporation is a business software company based in Austin, Texas founded in 1972. Its products are aimed at the manufacturing, distribution, retail and services industries.

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.

History

1972–2000

Incorporated in 1972 as Triad Systems Corporation, the company was renamed Activant in 2003, and continued to grow through acquisition. In May 2011, the company was purchased by Apax Partners and merged with Epicor Software Corporation, retaining the Epicor name as a privately held company.[2]

Advanced Business Microsystems was another predecessor company founded in 1984. ABM created a suite of accounting software for MS-DOS and marketed them in a joint venture with IBM known as The Platinum Series. ABM developed the Platinum line into a financial accounting software product designed for multi-user LAN-based environments. ABM was renamed Platinum Software Corporation in 1992 in preparation for its initial public offering.[3]

Platinum announced a version of their products for Microsoft Windows in 1993.[4] Platinum acquired Clientele in 1997, and FocusSoft, an extension to Platinum's existing distribution solution.[5] After a year, Platinum merged with DataWorks to extend its manufacturing solutions and operations. DataWorks Corporation was founded in 1977 (as Budget Computer Systems, San Diego, CA) specializing in integrated enterprise resource planning (ERP) systems targeted at high tech sector companies.[6] In 1999, Platinum/DataWorks became Epicor Software Corporation.[7]

2001–2010

Epicor sold the Platinum for Windows (PFW) products to Sage Group in 2001.[8]

Epicor for Service Enterprises, which automated enterprise services and was completely web-based, was released in 2003. The company acquired CompuNet for the hospitality. It acquired Scala in 2004.[9] In 2005, Epicor purchased CRS Retail to provide a comprehensive retail suite[10] then acquired NSB in 2007 to expand retail offerings.[11] In late 2010, Epicor purchased privately held SPECTRUM Human Resource Systems Corporation to further deliver service from a single-point of accountability.[12]

2011–present

In 2011, Apax Partners purchased both Activant and Epicor and merged the organizations together.[13] Pervez Qureshi, prior CEO of Activant, became CEO of the new Epicor in May, 2011.

In April 2012, Epicor partnered with ASA Automotive Systems Inc. to help ASA dealers increase vehicle parts and service revenue with Epicor Integrated Service Estimator.[14]

In October 2012, Epicor acquired Solarsoft Business Systems,[15] established in 2007 from the merger of CMS Software Inc. of Toronto and XKO Software Ltd from the UK. Before the acquisition, Solarsoft acquired Progressive Solutions in June 2012.[16]

On October 7, 2013, Epicor appointed Joseph L. Cowan as President and CEO.[17]

In October 2014, Epicor announces its acquisition of privately held QuantiSense, Inc., a provider of cloud and on-premises retail analytics software and services for leading specialty and department store chains.[18]

On January 6, 2015, Epicor completes acquisition of privately held ShopVisible, LLC.[19]

In June 2015, Epicor Retail was spun off from Epicor and became Aptos, Inc.[20][21]

On July 5, 2016, Epicor announced that it has entered into a definitive agreement to be acquired by the global investment firm KKR.[22] The acquisition by KKR was finalized on September 1, 2016.[23] Joseph L. Cowan remained president and CEO of Epicor after the acquisition.

On October 1, 2017, Epicor appointed Steve Murphy, prior president of OpenText, president and CEO.[24]

On October 1, 2019, Epicor announced the acquisition of 1 EDI Source, a Solon, Ohio-based provider of Electronic data interchange services and software for an undisclosed amount.[25]

On January 1, 2020, Epicor promoted Himanshu Palsule to president while continuing in his role as Chief Product and Technology officer overseeing Epicor's global portfolio. He will continue to report to CEO Steve Murphy.[26]

On August 31, 2020, KKR announced that it would sell the company to CD&R for $4.7 billion.[27][28][29]

Acquisitions

  • Intrepid (1995) [30]
  • Clientele (1997)
  • Interactive Group (1997) [31]
  • Dataworks (1998) [32][33]
  • CompuNet (2003)
  • ROI Systems (2003)
  • Scala (2004)
  • CRS Retail (2005)
  • NSB Retail (2007), incorporating since 2001 STS Systems
  • SPECTRUM Human Resources Systems Corp.(2010)
  • Solarsoft Business Systems (2012)
  • QuantiSense (2014)
  • ShopVisible, LLC (2015)
  • DotNetIT (2016)
  • docSTAR (2017) [34]
  • MechanicNet (2019)
  • 1 EDI Source (2019)
  • KBMax (2021)
  • Grow.com (2022)
  • eFlex Systems (2022)
  • Data Interchange (2022)

Program

Epicor also released the plan 'Fit for the Future,' intended to support stakeholders in the group develop market sustainability and thrive in the new environment.

Providers involve resellers, device integrators, and business partners who can use the Epicor software range and services to introduce, plan, and build transformational IT strategies.

Source:[35][36] [37] [38]

See also

References

  1. ↑ "Epicor Leadership Team". Epicor Software. https://www.epicor.com/en-us/newsroom/epicor-leadership-team/. 
  2. ↑ "Apax Partners Acquires Software Giants Epicor, Activant For Close To $2 Billion" (in en-US). https://social.techcrunch.com/2011/04/04/apax-partners-buy-software-giant-epicor-for-close-to-1-billion/. 
  3. ↑ "EPICOR | PDF | Supply Chain Management | Enterprise Resource Planning". https://www.scribd.com/document/98082605/EPICOR. 
  4. ↑ "Archives". 16 March 1993. https://articles.latimes.com/1993-03-16/business/fi-615_1_accounting-software. 
  5. ↑ "Platinum Software Becomes Epicor". 4 May 1999. https://articles.latimes.com/1999/may/04/business/fi-33905. 
  6. ↑ "Definition of: DataWorks.". Epicor. https://www.pcmag.com/encyclopedia/term/40907/dataworks. 
  7. ↑ "Platinum Software Becomes Epicor". Epicor. 4 May 1999. https://articles.latimes.com/1999/may/04/business/fi-33905. 
  8. ↑ "E2b teknologies - Vendor | Sage". 10 October 2016. http://e2btek.com/vendor-sage/. 
  9. ↑ "Epicor Commences Public Offer for All Shares of Scala Business Solutions". https://www.sec.gov/Archives/edgar/data/891178/000119312504086373/d425.htm. 
  10. ↑ "Epicor Buys CRS Retail Systems For $121M". Epicor. http://www.socaltech.com/epicor_buys_crs_retail_systems_for____m/s-0002739.html. 
  11. ↑ "Epicor NSB Buy to Further Consolidate Retail Software Midmarket". Epicor. https://www.gartner.com/doc/570210/epicor-nsb-buy-consolidate-retail. 
  12. ↑ "Epicor® to Acquire Spectrum Human Resource Systems Corporation". Epicor. http://www.hr.com/en/communities/epicor%C2%AE-to-acquire-spectrum-human-resource-systems_ghqc2yo9.html. 
  13. ↑ "Apax Partners To Merge Epicor, Activant". Epicor. 5 April 2011. http://www.informationweek.com/applications/apax-partners-to-merge-epicor-activant/d/d-id/1097018?. 
  14. ↑ "Hundreds of ASA Customers Now Growing Parts & Service Revenue with Epicor Integrated Service Estimator Solution". https://www.asaauto.com/pr-04-26-12//. 
  15. ↑ "Epicor Completes Acquisition of Solarsoft Business Systems; Reports Preliminary Fiscal 2012 Financial Results". Epicor. 15 October 2012. https://finance.yahoo.com/news/epicor-completes-acquisition-solarsoft-business-130000481.html. 
  16. ↑ "Solarsoft Acquires Progressive Solutions". Epicor. http://www.prosalesmagazine.com/news/deals/solarsoft-acquires-progressive-solutions_o. 
  17. ↑ "Joseph L. Cowan Appointed President and Chief Executive Officer of Epicor Software Corporation". Epicor. http://www.epicor.com/press-room/news-releases.aspx. 
  18. ↑ "Epicor Acquires QuantiSense, Extends BI and Analytics Offering". http://risnews.edgl.com/retail-news/Epicor-Acquires-QuantiSense,-Extends-BI-and-Analytics-Offering95965. 
  19. ↑ "Epicor Acquires ShopVisible". Epicor. 6 January 2015. http://www.accountingtoday.com/accounting-technology/news/epicor-acquires-shopvisible-73241-1.html. 
  20. ↑ "Newly Independent Company Aptos Launches New Brand, Readies Retailers to Engage Customers Differently" (Press release). Aptor (formerly Epicor Retail). 2015. Retrieved 17 June 2015.
  21. ↑ "Epic Transformation: Epicor Retail Becomes Aptos". RIS News. http://risnews.edgl.com/retail-insight-blog/Epic-Transformation--Epicor-Retail-Becomes-Aptos100911. 
  22. ↑ "Epicor Growth Strategy Affirmed by Acquisition by Leading Global Investment Firm KKR" (Press release). Epicor Software. 2016. Archived from the original on 9 July 2016. Retrieved 12 July 2016.
  23. ↑ "Epicor Announces Close of KKR Acquisition and Executive Leadership Appointments to Accelerate Growth Strategy" (Press release). Epicor Software. 2016. Archived from the original on 4 September 2016. Retrieved 1 September 2016.
  24. ↑ Epicor Corporation Announces CEO Succession/
  25. ↑ "Epicor Acquires Electronic Data Interchange (EDI) Solution Provider 1 EDI Source" (Press release). Epicor Software. 2019. Retrieved 1 October 2019.
  26. ↑ "Epicor Promotes Himanshu Palsule to President" (in en). https://www.dcvelocity.com/articles/44880-epicor-promotes-himanshu-palsule-to-president. 
  27. ↑ "KKR to sell Epicor Software in $4.7 billion deal, 4 years after buying the company" (in en). August 31, 2020. https://www.marketwatch.com/story/kkr-to-sell-epicor-software-in-47-billion-deal-4-years-after-buying-the-company-2020-08-31. 
  28. ↑ Gagliordi, Natalie. "ERP software company Epicor sells to private equity firm CD&R" (in en). https://www.zdnet.com/article/erp-software-company-epicor-sells-to-private-equity-firm-cd-r/. 
  29. ↑ Kruppa, Miles; Wiggins, Kaye (31 August 2020). "KKR sells software group Epicor to CD&R in $4.7bn deal". Financial Times. https://www.ft.com/content/76dbc938-ce00-4fa1-947c-731b0e35490a. 
  30. ↑ "Intrepid Interactive". 22 March 2013. https://www.corumgroup.com/transactions/intrepid-interactive. 
  31. ↑ "Dataworks Completes Interactive Group Acquisition". 13 October 1997. https://techmonitor.ai/techonology/dataworks_completes_interactive_group_acquisition_1. 
  32. ↑ "Platinum Software becomes Epicor after Dataworks Merge". 28 April 1999. https://techmonitor.ai/techonology/platinum_software_becomes_epicor_after_dataworks_merge. 
  33. ↑ "Platinum Software Will Buy Competitor for $92 Million". Los Angeles Times. 14 October 1998. https://www.latimes.com/archives/la-xpm-1998-oct-14-fi-32215-story.html. 
  34. ↑ "Epicor Acquires Enterprise Content Management Software Provider docSTAR and Expands Cloud-Based Solutions Portfolio". http://www.kmworld.com/Articles/News/News/Epicor-Acquires-Enterprise-Content-Management-Software-Provider-docSTAR-and-Expands-Cloud-Based-Solutions-Portfolio-115566.aspx. 
  35. ↑ "Epicor launches partner support program in wake of COVID-19". https://channellife.com.au/story/epicor-launches-partner-support-program-in-wake-of-covid-19. 
  36. ↑ "New Epicor CEO takes to the road to meet with customers, employees". https://www.fierceceo.com/technology/epicor-ceo-steers-company-against-heavy-hitters. 
  37. ↑ "Epicor CEO: Proposed Tax Reform Would Boost Manufacturers". 12 December 2017. https://chiefexecutive.net/epicor-ceo-proposed-tax-reform-boost-manufacturers/. 
  38. ↑ "Epicor buys leading CPQ vendor KBMax". 27 May 2021. https://www.enterprisetimes.co.uk/2021/05/27/epicor-buys-leading-cpq-vendor-kbmax/. 

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