Activant Acquired And Appoints New President/CEO
Activant Solutions Inc. announced the completed acquisition of Activant Solutions Holdings Inc. and all its subsidiaries by funds affiliated with private equity firms Hellman & Friedman LLC, Thoma Cressey and JMI Equity from funds affiliated with HM Capital Partners LLC. The new investment partners are said to help software businesses achieve their strategic and financial objectives.
The company also announced that Pervez Qureshi has been named president and CEO of Activant. In his most recent role as chief operating officer, Qureshi oversaw company-wide operations through its recent growth and acquisition phase. He has been with Activant since 1994, and carries more than 20 years of high-tech industry management experience. “The acquisition of Activant will bring low fundamental changes to operations,” Qureshi told SUPPLY HOUSE TIMES. “We like vertical markets and hope to be the major player in the markets we're in. We are now a larger company and will be able to provide the latest technology and resources implementing them for our customers.”
When asked what is behind all the mergers and acquisitions in the distribution management field, Quershi said, “All markets consolidate. There have been a lot of small software companies in the distribution market place, many of them in the $5-10 million range. Those may have started out proprietary and now the owner wants to take his company to the next level. As for Activant, we look forward to more acquisition opportunities or adjacent related markets.”