Epicor Explained

Type:Private
Key People:Steve Murphy
Lisa Pope [1]
Industry:Computer software
Products:ERP, Retail Software
Revenue:US $1.05 billion FY 2022
Owner:CD&R
Num Employees:4,600
Homepage:www.epicor.com
Foundation:1972
Location:Austin, Texas

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.[2]

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

Advanced Business Microsystems (ABM) was a 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

Another predecessor company, incorporated in 1972 as Triad Systems Corporation, was renamed Activant in 2003, and continued to grow through acquisition.

In 2011, Apax Partners purchased both Activant and Epicor and merged the organizations together retaining the Epicor name as a privately held company.[13] [14] 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.[15]

In October 2012, Epicor acquired Solarsoft Business Systems,[16] 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.[17]

On October 7, 2013, Epicor appointed Joseph L. Cowan as President and CEO.[18]

In October 2014, Epicor announced 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.[19]

On January 6, 2015, Epicor completes acquisition of privately held ShopVisible, LLC.[20]

In June 2015, Epicor Retail was spun off from Epicor and became Aptos, Inc.[21] [22]

On July 5, 2016, Epicor announced that it has entered into a definitive agreement to be acquired by the global investment firm KKR.[23] The acquisition by KKR was finalized on September 1, 2016.[24] 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.[25]

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.[26]

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.[27]

On August 31, 2020, KKR announced that it would sell the company to CD&R for $4.7 billion.[28] [29] [30]

On June 12, 2024, Epicor announced its acquisition of KYKLO, a provider of Product Information Management (PIM) and content-driven lead generation solutions for manufacturers and distributors.[31]

Acquisitions

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.[37] [38] [39] [40]

See also

Notes and References

  1. Web site: Epicor Leadership Team . Epicoir Leadership Team . Epicor Software . 9 October 2021.
  2. Web site: Best Software Development Companies in Austin, USA .
  3. Web site: EPICOR | PDF | Supply Chain Management | Enterprise Resource Planning.
  4. Web site: Archives. . 16 March 1993 .
  5. Web site: Platinum Software Becomes Epicor. articles.latimes.com/. 4 May 1999 .
  6. Web site: Definition of: DataWorks.. pcmag.com. Epicor.
  7. Web site: Platinum Software Becomes Epicor. Los Angeles Times. 4 May 1999 . Epicor.
  8. Web site: E2b teknologies - Vendor | Sage. 10 October 2016.
  9. Web site: Epicor Commences Public Offer for All Shares of Scala Business Solutions. sec.gov.
  10. Web site: Epicor Buys CRS Retail Systems For $121M. socaltech.com. Epicor.
  11. Web site: Epicor NSB Buy to Further Consolidate Retail Software Midmarket. https://web.archive.org/web/20150214104809/https://www.gartner.com/doc/570210/epicor-nsb-buy-consolidate-retail. dead. February 14, 2015. gartner.com. Epicor.
  12. Web site: Epicor® to Acquire Spectrum Human Resource Systems Corporation. hr.com. Epicor.
  13. Web site: Apax Partners Acquires Software Giants Epicor, Activant For Close To $2 Billion . 2022-08-22 . TechCrunch . en-US.
  14. Web site: Apax Partners To Merge Epicor, Activant. informationweek.com. 5 April 2011. Epicor.
  15. Web site: Hundreds of ASA Customers Now Growing Parts & Service Revenue with Epicor Integrated Service Estimator Solution.
  16. Web site: Epicor Completes Acquisition of Solarsoft Business Systems; Reports Preliminary Fiscal 2012 Financial Results. yahoo.com. 15 October 2012 . Epicor.
  17. Web site: Solarsoft Acquires Progressive Solutions. prosalesmagazine.com. Epicor.
  18. Web site: Joseph L. Cowan Appointed President and Chief Executive Officer of Epicor Software Corporation. epicor.com. Epicor.
  19. Web site: Epicor Acquires QuantiSense, Extends BI and Analytics Offering. risnews.edgl.com.
  20. Web site: Epicor Acquires ShopVisible. accountingtoday.com. 6 January 2015. Epicor.
  21. Newly Independent Company Aptos Launches New Brand, Readies Retailers to Engage Customers Differently . Aptor (formerly Epicor Retail) . 2015 . 17 June 2015.
  22. News: Epic Transformation: Epicor Retail Becomes Aptos. 22 June 2015. RIS News.
  23. Epicor Growth Strategy Affirmed by Acquisition by Leading Global Investment Firm KKR . Epicor Software . 2016 . 12 July 2016 . https://web.archive.org/web/20160709170433/http://www.epicor.com/Press-Room/News-Releases/Epicor-Growth-Strategy-Affirmed-with-Acquisition-by-Leading-Global-Investment-Firm-KKR.aspx . 9 July 2016 . dead .
  24. Epicor Announces Close of KKR Acquisition and Executive Leadership Appointments to Accelerate Growth Strategy . Epicor Software . 2016 . 1 September 2016 . https://web.archive.org/web/20160904212926/http://www.epicor.com/Press-Room/News-Releases/Epicor-Announces-Close-of-KKR-Acquisition-and-Executive-Leadership-Appointments-to-Accelerate-Growth-Strategy.aspx . 4 September 2016 . dead .
  25. https://www.epicor.com/newsroom/epicor-announces-ceo-succession Epicor Corporation Announces CEO Succession
  26. Epicor Acquires Electronic Data Interchange (EDI) Solution Provider 1 EDI Source . Epicor Software . 2019 . 1 October 2019.
  27. Web site: Epicor Promotes Himanshu Palsule to President. www.dcvelocity.com. en. 2020-03-18.
  28. Web site: KKR to sell Epicor Software in $4.7 billion deal, 4 years after buying the company. MarketWatch. en. August 31, 2020.
  29. Web site: Gagliordi. Natalie. ERP software company Epicor sells to private equity firm CD&R. 2020-09-17. ZDNet. en.
  30. News: Kruppa . Miles . Wiggins . Kaye . 31 August 2020 . KKR sells software group Epicor to CD&R in $4.7bn deal . Financial Times . 2020-09-17.
  31. Web site: PYMNTS . 2024-06-12 . Epicor Adds Product Information Management Capabilities With Kyklo Acquisition . 2024-06-13 . PYMNTS.com . en-US.
  32. Web site: Intrepid Interactive . 22 March 2013.
  33. Web site: Dataworks Completes Interactive Group Acquisition . Tech Monitor . 13 October 1997 . 8 October 2021.
  34. Web site: Platinum Software becomes Epicor after Dataworks Merge . 28 April 1999 . 9 October 2021.
  35. News: Platinum Software Will Buy Competitor for $92 Million . 9 October 2021 . Los Angeles Times . 14 October 1998.
  36. Web site: Epicor Acquires Enterprise Content Management Software Provider docSTAR and Expands Cloud-Based Solutions Portfolio.
  37. Web site: Epicor launches partner support program in wake of COVID-19. 15 June 2020. channel life.
  38. Web site: New Epicor CEO takes to the road to meet with customers, employees. Fierce CEO. 2017-12-12. 2019-07-23. https://web.archive.org/web/20190723162034/https://www.fierceceo.com/technology/epicor-ceo-steers-company-against-heavy-hitters. dead.
  39. Web site: 12 December 2017 . Epicor CEO: Proposed Tax Reform Would Boost Manufacturers . Chief Executive.
  40. Web site: 15 October 2023 . Epicor buys leading CPQ vendor KBMax .

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