TCV acquires software maker EtQ

EtQ has been acquired by Technology Crossover Ventures, with funding coming from the $2.5 billion TCV IX, the two firms said. Terms of the transaction were not disclosed.

The investment is EtQ’s first institutional capital since it was founded in 1992 and will accelerate product development and the company’s international expansion. EtQ develops quality management system, and environmental, health, and safety software

Evercore served as financial advisor to EtQ, and KeyBanc Capital Markets served as financial advisor to TCV.