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by Jeff Moad, MA Editorial Staff
Posted on Thursday, October 30, 2008 3:16:51 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Revenue surges, but license sales fall for the mid-market ERP provider, reflecting a new timidity among would-be IT buyers. |
| Keywords: | Epicor sales, Epicor revenue, ERP revenue |
Facing a dramatic economic slowdown and an unsolicited takeover bid, Epicor Software Corp. yesterday reported mixed third-quarter financial results, with overall revenue climbing 31.7%, but earnings falling 52.6%.
Separately, Epicor announced yesterday that its board of directors unanimously rejected the unsolicited offer from private investment firm Elliott Associates to acquire the company for $528 million. In a statement, Epicor said the board believes Elliott’s $9.50-per-share offer is too low and too conditional, and the board questioned the seriousness of the offer.
“The effect of the offer’s numerous and subjective conditions is that the offer may be illusory and Epicor’s stockholders cannot be assured that Elliott Associates will consummate the offer,” Epicor said in the statement.
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