Philly Tech News

Showing posts with label Epicor. Show all posts

Links 9/6: SAP launches HANA-only version of Business Warehouse; Malvern-based edtech firm makes another in series of acquisitions

KKR buys out Epicor, with Bensalem offices, for reported $3.3 billion; Prophet 21's legacy

Epicor Bensalem Offices

Today PE giant KKR said it was acquiring Epicor from another PE firm, Apax Partners. Epicor provides vertical market ERP solutions. Bloomberg reported the price to be about $3.3 billion.

The Philly area has a presence within Epicor originating from Activant Solution's 2005 acquisition of Prophet 21, then based in Yardley, Bucks County, for a reported $215 million. Prophet 21's strengths were in retail and distribution, markets Epicor is still strong in. Epicor still uses the Prophet 21 brand name with some products. Activant was merged with Epicor in 2011 by Apax, in a $2 billion deal.

In 2013 Epicor relocated its area operations from Yardley to Bensalem. At the time, it reported headcount there of 200.

Epicor is based in Austin.

There seems to be consensus that under current CEO Joe Cowan, Epicor has been successful in moving its focus to the Cloud. The challenge for Epicor has been developing an overarching product strategy out of various acquired parts.

Bloomberg noted that this is KKR's largest tech acquisition since 2007. It was 11 yesrs ago that KKR participated in the $11 billion LBO of SunGard Data Systems, that was just unwound last year.

Dennis Howlett on Epicor for Digimonica.

Links 7/2/2014: Oracle's $10 billion debt raise leaves some leftover after Micos purchase; PA after Uber & Lyft

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Oracle selling $10 billion in bonds, giving hint to buying spree (PC World)

We were 4 years ahead of SAP, Oracle: Workday CEO (CNBC Video)

A barroom conversation about SAP and the Cloud – but without the noise and the drinks
(SAP Community Network)

More ERP Options, More Difficult Decisions (ASUG News)

Epicor Faces a Challenging Future (Smart Data Collective)

Reed Tech Strengthens Line of LexisNexis Intellectual Property Solutions by Acquiring PatentCore, an Innovator in Patent Data Analytics (Business Wire)

Yahoo Does A “Summer Cleaning,” Shuts Down Its Xobni Acquisition, Plus Other Under-Performing Products (TechCrunch)

Pennsylvania is the latest state to go after Uber and Lyft (Engadget)

NextGen Healthcare and Mirth Launch Enterprise Interoperability Platform (Business Wire)

QTS Acquires New Jersey Data Center from McGraw Hill Financial and forms Strategic Partnership with Atos (PR Newswire)

Links 5/22/2014: The Hill reports on Comcast lobbying efforts; Bentley Systems releases 2013 annual report

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Comcast goes for shock and awe (The Hill)

Comcast: AT&T for DTV Could Prompt Bid for T-Mobile, Says UBS (Barron's: Tech Trader Daily)
;

Baker oversaw firm where NJ pension funds were invested (Boston Globe)

Bentley Systems Releases 2013 Annual Report Online (Business Wire)
8% revenue growth to $593 million; 63% of revenue from outside of US.

VCs eye big cloud software returns despite dwindling valuations (Reuters)

H-P cutting additional 11,000 to 16,000 jobs; results accidentally posted on site: live blog (MarketWatch)

But then who would buy Epicor? (ERP Graveyard)

Exclusive: Element nears deal to buy PHH's leasing unit for $1.35 billion (Reuters)

RightCare Named Winner of 2014 TiE50 Award (Business Wire)

Links 5/6/2014: Ben Franklin funds nine startups; Did SAP place too much emphasis on HANA?

Tom Paine

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Ben Franklin Approves $975,000 for Nine Early-Stage Companies (Ben Franklin Technology Partners)

Alibaba Files to Go Public in the U.S. (New York Times: DealBook)

SAP Shakeup Puts Focus Where It Belongs (Information Week)
Was too much hype built around HANA?

SAP and VMware Head for the Future Together
(New York Times: Bits)

Salesforce combining Radian6 with Buddy Media to create Social Studio (PC World)

Report: PE firm wants to sell Austin's Epicor Software for $3.5 billion (Austin Business Journal)
Epicor's Americas headquarters for its ERP business is in Bensalem.

Workday takes another shot at Oracle, SAP with recruiting app
(PC World)

Here’s what Tableau CEO Christian Chabot thinks about competing against Microsoft, MicroStrategy and everyone else
(GeekWire)

EPAM Acquires Jointech, Expands China-Based Delivery Capabilities (EPAM)

Comcast Goes Wide With X1 Upgrade (Multichannel News)

Comcast Commits to RDK-B (Light Reading)

Shammo: No comment on Comcast-TWC, FiOS plans on track (FierceCable)

BioTelemetry, Inc. Reports First Quarter 2014 Financial Results (Globe Newswire)

Epicor moves Americas ERP headquarters from Yardley to Bensalem & planning for growth; Grand Opening today (Friday)

Tom Paine

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Most tech professionals in the area know that enterprise software giant SAP has its headquarters for the Americas, and well over 2,000 employees, in Newtown Square. And in May of next year it will be the home base for SAP's sole CEO, although the company remains based in Germany.

But less are aware that another important, though smaller Tier II ERP provider, Epicor, has its headquarters for its Americas ERP business in Bucks County. And it is moving from Yardley to Bensalem and holding an open house tomorrow.

Epicor EVP Donna Troy

Epicor's presence in the area dates back to Activant Solutions' 2005 acquisition of Yardley-based Prophet 21 for $215 million. Activant was acquired by private equity firm Apax Partners in 2011, which at the same time also acquired Epicor and merged the two under the Epicor name. The total value of the two deals was about $2 billion, and Epicor currently has annual revenues in the $1 billion range. Epicor says its Bensalem location serves as its headquarters for its ERP business in the Americas, and it currently has about 200 employees there. Worldwide corporate headquarters are in California. Donna Troy, who had previous experience with Dell, SAP, McAfee and IBM, joined Epicor earlier this year as executive vice president and general manager for ERP Americas.

Epicor Director of Continuous Improvement Stuart Maxel, who coordinated the move, said in a phone interview with Philly Tech News that Epicor's key objectives here are to continue the migration of products to the Cloud (Epicor was traditionally on-premise, but now has a mix of on-premise and Software as a Service - SaaS), moving up from serving smaller and medium-sized enterprises to competing for more accounts in larger enterprises, and enhancing its vertical & niche offerings. Epicor's traditional core strengths have been in retail, distribution, and manufacturing.

Although Maxel couldn't talk specific numbers, he said part of the reason for the move
was to allow for expansion, and that is definitely in the plans. I mentioned that Epicor
has not been very visible on the Philly Tech Scene during the time I've covered it,
and he said increasing that was one of its goals.

Epicor's new Bensalem facility

The Yardley facility dated back to the Prophet 21 days (Epicor still uses the Prophet 21
name for some offerings). In the Bensalem facility at the LEED certified Horizon Corporate Center, Epicor is leasing 43,000 square feet on the second floor. Bensalem Mayor Joseph DiGirolamo, local representative Gene DiGirolamo, and state senator Tommy Tomlinson are expected to attend the open house today.