The financial terms of the deal were not disclosed, but Bloomberg News is reporting the deal is worth about $3.3 billion.
Austin-based Epicor provides software to customers in the manufacturing, distribution and retail industries in more than 150 countries.
“Our top priority continues to be delivering cloud-ready, market-leading solutions paired with a world-class customer experience,” Joe Cowan, president and CEO of Epicor, said in a news statement. “KKR shares our vision of providing innovative technology with a clear focus on helping customers grow business, not software. This is an exciting time for Epicor, and I am extremely appreciative of Apax’s support during the last five years.”
“KKR is very pleased to be partnering with Epicor to accelerate its next phase of global growth,” Herald Chen, member of private equity and Head of technology at KKR, said in a news statement. “Through a world-class Epicor team, leading cloud-ready technologies and a keen focus on its customers, the company is in tremendous position to build on its long history of success.”
KKR expects to close the acquisition by the end of August, pending regulatory approval.
Founded in 1972, Epicor Software with 3,900 employees had almost $1 billion in revenue last year.