TA Associates Completes Significant Growth Investment in Priority Software
TA Associates, a leading global growth private equity firm, today announced that it has completed a significant growth investment in Priority Software Ltd., a leading global provider of Enterprise Resource Planning (ERP) software. TA joins existing investor Fortissimo Capital, a leading private equity firm based in Israel and focused on special situations and growth opportunities, as an institutional investor in Priority Software. Financial terms of the transaction were not disclosed.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201004005040/en/
Founded in 1986, Priority Software provides end-to-end cloud-based (SaaS) and on-premise business management solutions for organizations of all sizes to improve business efficiency and the customer experience. The company’s Priority PRO product provides comprehensive ERP software for medium to large organizations encompassing demand planning, manufacturing operations, financial management, human capital management, procurement and supply chain management. Priority Software also provides business management software for smaller companies that focuses on financial management, reporting and accounting. The company has more than 10,000 customers and over 300,000 end users across multiple end markets, including manufacturing, construction, healthcare and pharma, services, and retail and wholesale. Priority Software has more than 200 employees located across five offices in Israel, the U.S., the UK and Belgium.
“TA’s extensive experience investing in the enterprise software space and in partnering with growing companies like Priority Software made the firm an attractive investment partner,” said Andres Richter, CEO of Priority Software. “We’ve identified opportunities to accelerate our growth and further expand Priority Software’s market penetration both nationally and internationally, and we believe that TA will be a valuable partner for us alongside Fortissimo to help us realize our ambitions.”
“Priority Software is considered by many to be a market leader in the Israeli ERP space, and we believe that the company has significant untapped potential,” said Stefan Dandl, a Senior Vice President at TA Associates who has joined the Priority Software Board of Directors. “Additionally, there is significant opportunity for Priority Software to expand internationally in its addressable market through acquisitive and organic growth. We look forward to partnering with the Priority Software and Fortissimo teams in these growth efforts.”
“We have been following Priority Software for several years and have been impressed by the quality of the company’s management team and the growth they have achieved to date,” said Naveen Wadhera, a Managing Director and Co-head of the EMEA Technology Group at TA Associates who has joined the Priority Software Board of Directors. “The ERP market continues to see strong growth globally, driven by a need for operational efficiency and transparency, coupled with increasing adoption of cloud-based solutions. We believe that Priority Software’s flexible, innovative and high-quality products make it well-positioned to capitalize on these opportunities, and we are pleased to become an investment partner alongside Fortissimo as the company enters its next stage of growth.”
“As a firm focused on creating value from growth, Fortissimo is proud to have partnered with the Priority Software team and been a part of the company’s rapid growth over the last six years,” said Yuval Cohen, Managing Partner at Fortissimo Capital. “We continue to believe in Priority Software’s growth potential in Israel as a result of its leadership position, loyal customer base and superior technology and its potential to continue driving growth worldwide. We are excited to welcome TA as a new partner to further accelerate Priority Software’s growth.”
About Priority Software
Priority Software provides flexible, end-to-end business management solutions for organizations of all sizes in a wide range of industries, from a fully featured ERP platform serving multinational corporations, to small and growing businesses. Recognized by top industry analysts and professionals for its product innovation, Priority Software improves business efficiency and the customer experience, providing real-time access to business data and insights in the cloud, on premise and on-the-go. With offices in the U.S., the UK, Belgium and Israel, and a global network of business partners, Priority Software enables more than 10,000 companies in 40 countries to manage and grow their business. For more information, visit www.priority-software.com.
About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $2 billion per year. The firm’s more than 90 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.
About Fortissimo Capital
Fortissimo Capital is a private equity fund, established in 2004, that invests primarily in Israeli-related technology and industrial companies to expedite growth. Fortissimo raised $1.6 billion across five funds. Fortissimo Capital is a special situations and growth capital Israeli-related private equity fund focused primarily on maturing technology and industrial companies that are at a point of inflection. Fortissimo's investment strategy is to achieve capital appreciation through taking a leading role and active approach in Israeli-related global businesses that require immediate and significant change, or stimulation of growth and by building business fundamentals to facilitate sustainable long-term growth and value creation. More information about Fortissimo Capital is available at www.ffcapital.com.
For TA Associates:
For Priority Software:
For Fortissimo Capital:
Fortissimo Capital Fund
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
PMI Announces Medicago to Supply Up to 76 Million Doses of Its Plant-Derived COVID-19 Vaccine Candidate23.10.2020 21:00:00 EEST | Press release
Since 2008, Philip Morris Investments B.V. (PMIBV), a subsidiary of Philip Morris International (PMI) (NYSE: PM), has been a shareholder of Medicago (in which it currently holds an approximately one-third equity stake) and has supported Medicago’s innovative plant-derived research and development focused on vaccines. The investment is consistent with PMI’s own efforts to leverage science and innovation. Japan-based Mitsubishi Tanabe Pharma Corporation (MTPC) is the majority shareholder and PMIBV’s partner in Medicago. Among other things, PMIBV and MTPC will contribute additional funding to support Medicago’s efforts to develop a COVID-19 vaccine candidate. Medicago, a biopharmaceutical company headquartered in Quebec City, announced that it reached an agreement with Public Services and Procurement Canada (PSPC) to supply up to 76 million doses of its vaccine candidate for COVID-19, subject to Health Canada approval. Innovation, Science & Economic Development (ISED), another department
Fujikura Enters 5G mmWave Infrastructure Market With the Introduction of Industry’s Highest Performance, and Low Power Consumption Phased Array Antenna Module (PAAM)23.10.2020 11:00:00 EEST | Press release
Fujikura Ltd. (TOKYO:5803) (President & CEO: Masahiko Ito) today announced the introduction of industry’s most advanced and highly integrated Phased Array Antenna Module (PAAM) for 5G mmWave operating in 3GPP bands n257 (28 GHz), n258 (26 GHz) and n261 (27 GHz). The Fujikura PAAM is the industry’s highest performance PAAM targeting indoor and outdoor applications such as 5G mmWave Fixed Wireless Access (FWA), 5G mmWave Mobile Wireless Access (MWA), 5G mmWave wireless backhaul, and other emerging applications. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201023005099/en/ Fig.1 Block diagram of Fujikura PAAM. (Graphic: Business Wire) Key Differentiating Features of the Fujikura PAAM The Fujikura PAAM is a high performance phased array antenna module with a novel integrated antenna, and supports concurrent dual polarized beams in both transmission and reception (Fig.1). The PAAM integrates best-in-class mmWave-ICs developed i
VAAST Bikes Now Available in Europe23.10.2020 10:02:00 EEST | Press release
VAAST Bikes, a forward-thinking bicycle manufacturer known for its innovative Allite® Super Magnesium™ frames, has signed an agreement with German cycling-specialist retailer giant Internetstores (Fahrrad.de/Brügelmann.de/Bikester). Two of VAAST’s key bicycle models – including the gravel-ready all-road A/1 bike, and the urban U/1 – are now stocked at Internetstores’ eCommerce sites. Both VAAST models will be available to order online for delivery in fourteen locations across Europe via Fahrrad.de/Brügelmann.de in Germany and the partner site Bikester in 13 countries, including the UK, France, the Netherlands, Belgium, Switzerland, Austria, Poland, Denmark, Italy, Sweden, Norway, Finland and Spain. Customers in Germany can benefit from personal service in Fahrrad.de’s five stores and 190 local service partners, while eCommerce customers Europe-wide will be able to receive their new VAAST bicycle within just days of ordering online. VAAST’s unique position as the only bicycle manufactur
Mitsubishi Chemical Holdings Corporation: Notice Regarding Change in Representative Corporate Executive Officers23.10.2020 09:40:00 EEST | Press release
Mitsubishi Chemical Holdings Corporation (“MCHC”) (TOKYO: 4188) announced that, at the meeting of its Board of Directors held today, it resolved change of representative corporate executive officers as outlined below. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201022006285/en/ Jean-Marc Gilson (Photo: Business Wire) 1. Change in Representative Corporate Executive Officers (Appointed) Name: Jean-Marc Gilson Title: Representative Corporate Executive Officer President and Chief Executive Officer (Retiring) Name: Hitoshi Ochi Title: Representative Corporate Executive Officer President and Chief Executive Officer 2. Biographical Sketch of New Representative Corporate Executive Officer Refer to the appendix 3. Scheduled Date of Appointment April 1, 2021 4. Reason for the Change MCHC converted to a company with a nominating committee, etc. in June 2015. Since then, the Nominating Committee has carried out preparations to proper
MYAH Wins Prestigious Silmo D’Or Award23.10.2020 08:00:00 EEST | Press release
Topcon Healthcare, a leading provider of medical devices and software solutions for the global eye care community, announced today that its MYAH myopia and dry eye management device has won the 2020 Silmo D’Or Award in the Material/Equipment category. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201022005242/en/ Topcon Healthcare announced today that its MYAH myopia and dry eye management device has won the 2020 Silmo D’Or Award. (Photo: Business Wire) The Silmo D’Or Awards are presented each year to recognize creativity in optical product design, innovation and technology. This year marked the 27th annual awards ceremony, which was held virtually and live streamed online on Saturday, October 3rd. The award committee was proud to recognize forward-thinking companies who have continued to launch products and propel the industry forward despite the global pandemic. MYAH came out on top in the Material/Equipment category and
ABB: Q3 2020 Results23.10.2020 07:46:00 EEST | Press release
“Third quarter revenues in all business areas were still dampened due to the impact of COVID-19, although a strong recovery in China and ongoing cost mitigation efforts supported a strong underlying performance. On the upside, the integration of GEIS and turnaround of Installation Products in Electrification is starting to bear fruit and Motion is performing robustly. Robotics and Industrial Automation, on the other hand, are taking more time to recover,” said Björn Rosengren, CEO of ABB. “We are pushing ahead with the decentralization of the group and the ongoing review of our portfolio, while carrying out our share buyback program as planned. We look forward to presenting further details on our strategic progress at our Capital Markets Day on November 19.” KEY FIGURES CHANGE CHANGE ($ millions, unless otherwise indicated) Q3 2020 Q3 2019 US$ Comparable 9M 2020 9M 2019 US$ Comparable Orders 6,109 6,688 -9% -8% 19,509 21,702 -10% -7% Revenues 6,582 6,892 -4% -4% 18,952 20,910 -9% -7% I
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom