Happy Wednesday, Dear Tech Take Readers!
Many sale processes put on hold are hitting the restart button as the world reopens from the covid-19 pandemic. Certain sub-sectors of technology are even seen as beneficiaries of the global shutdown amid an acceleration of digital adoption. Read more about this phenomenon in my latest industry deep dive with participation of investors including TCV, TPG Growth and Great Hill Partners.
I’m hearing PE-driven tech M&A will be back in full swing after Labor Day. In the meantime, here’s one big deal I want to put on your radar.
KKR-backed Epicor Software is back in the market, I learned this week.
The process, which first launched in summer 2019, was pulled by the firm in October after the bids for the software company came in below expectations, PE Hub reported at the time.
In August, KKR, advised by Barclays, was expected to fetch between $4 billion and $5 billion for Epicor, PE Hub reported.
This time around, the seller’s expect to produce a deal valued closer to $5 billion, sources told me.
Clearlake-backed Ivanti recently brought on both a new management team and new investor. And those two are no coincidence.
The company has been looking for a new backer since April 2019, but it’s original sale process failed to secure the right commitment. Now, with new leadership in the hands of former Infor executive Jim Schaper and his management team, Ivanti looks a lot more attractive, sources told me.
TA Associates has joined Clearlake as an investor in Ivanti in a deal valuing the company north of $2 billion. Read more about the company and its growth path in my recent story.
Have a great day! Reach me with your thoughts, tips, gossip, whatever at firstname.lastname@example.org.