Epicor Completes Acquisition of Solarsoft Business Systems; Reports Preliminary Fiscal 2012 Financial Results

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FOR IMMEDIATE RELEASE  

DUBLIN, Calif., October 15, 2012 -- Epicor Software Corporation, a global leader in business software solutions for manufacturing, distribution, retail and services organizations, today announced that it has completed its previously announced acquisition of Solarsoft Business Systems. Epicor also announced preliminary financial results for its fiscal 2012 full year ended on September 30.

Epicor completed its acquisition of Solarsoft Business Systems for $155 million which was funded with cash on hand and a draw on an existing revolving credit facility of $69 million. As previously stated in the news release "Epicor to Acquire Solarsoft Business Systems," issued on September 13, 2012, the acquisition of Solarsoft extends Epicor’s position as a leading provider of complete end-to-end enterprise business solutions for discrete manufacturing and distribution and wholesale management solutions in key vertical industries including lumber and building materials, automotive, and print and packaging. Jefferies & Company, Inc. acted as sole financial advisor to Epicor Software Corporation.

"This acquisition strengthens our leadership in the manufacturing and distribution segments worldwide," said Pervez Qureshi, CEO and president of Epicor. "The addition of Solarsoft extends our innovative software offerings to a broader range of customers and industries—from automotive parts to packaging to life sciences, from food and beverage to electrical components to lumber and building materials. These solutions, which enable customers to monitor business and boost operating efficiency, are well aligned to Epicor offerings. We are pleased to have completed this acquisition slightly ahead of schedule and excited to begin the process of integrating Solarsoft with Epicor."

To read the Full PDF. News Release please CLICK HERE