I figured that he knew his tenure would be short and Cowan didn't see why he should move. The Journal report said the deal would include long-term debt and that balance sheet on December 31 reported that just under $1.3 billion. Apax completed its purchase of Epicor and Activant Solutions in May 19, 2011 for $1.77 billion. The two were combined under the Activant management but with the Epicor name in December that year. It's necessary to remember there were acquisitions since then, including that of Cogita Holdings, a Pacific reseller, for an undisclosed sum and that of SolarSoft Business Systems in October 2012 for $122 million.
EPICOR BEING PUT ON BLOCK? Featured
There's no surprise in the report of the Wall Street Journal that Apax Partners wants to sell Epicor for between $2.5 billion and $3.5 billion. A lot of us expected this when the company named Joseph Cowan as CEO in October, in a surprise replacement of Pervez Quereshi. Cowan's resume shows a long streak of short-term jobs as CEO of companies that were sold. Somebody commented about whether his move of company HQ from California to Austin, Texas, possibly had implications for potential buyers.
