Private equity advisory firm Apax Partners LLP is acquiring a majority stake in ECi Software Solutions, a Software-as-a-Service (SaaS) provider of enterprise resource planning (ERP) technology. The investment, which stems from the firm’s Apax Funds, comes as the target seeks to transition its software to the cloud.
ECi Software publishes business management and e-commerce software for small and medium-sized businesses. The Fort Worth, Texas-based target serves the distribution, field services, building, construction and manufacturing industries with resource planning tools. Concurrent with the deal, ECi Software will merge with Exact Software’s three ERP businesses: Macola, JobBOSS and MAX. Exact Software is a portfolio company of Apax. The Carlyle Group and Level Equity will retain a minority stake in the business. Financial terms of the deal were not disclosed.