Private equity firm KKR & Co Inc will sell business software maker Epicor Software Corp to Clayton Dubilier & Rice in a $4.7 billion deal, the companies said on Monday.
FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid
Companies such as Epicor that generate recurring revenue through business software sales have been popular targets for the private equity industry. CD&R’s Operating Partner Jeff Hawn will become the chairman of Epicor’s board following deal close, which is expected later this year, the companies said.
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