April 9, 2007 Timothy Prickett Morgan
Consolidation is not just happening at bigger software companies. It’s also happening, perhaps under the radar, at smaller software firms. For example, last week, two mid-tier ERP software providers, CMS Software and XKO Software were merged together, and like so many other deals done in the IT industry of late, the deal was financed with private equity capital.
XKO’s software operations were acquired by Marlin Equity Partners, a private equity firm based in Los Angeles for an estimated $28 million back in October 2006. XKO was publicly traded in the United Kingdom, where it is located, on the AIM