Candescent Buys Quadrant Software as IntelliChief Spins Out
December 6, 2010 Timothy Prickett Morgan
Yet another private equity firm has taken a stake in the IBM i marketplace. Last week, Boston-based Candescent Partners bought document management company Quadrant Software from the company’s founders, Peter DePierro and Gary Langton, for an undisclosed sum. Under the deal with Candescent Partners, DePierro and Langton are selling the Quadrant Software side of the business, which includes FastFax and Formtastic, to the private equity firm while retaining control of IntelliChief, the workflow management tool created by Quadrant.
According to Langton, the IntelliChief business has been a standalone company for the past two years and neither he nor DePierro