New Private Equity Firm Eyes Software

Private equity firm M2 Technologies Partners will focus on acquisitions of mid-market enterprise software and services businesses.


Companies Mentioned
Posted on Jul 27, 2008

In a rapidly consolidating enterprise software market, a new player has emerged.

Private equity firm M2 Technologies Partners stepped onto the scene in June, focusing on "domestic and international acquisitions of software and services businesses" and touting the well-heeled leadership and backing of veteran Silicon Valley investment firm Accel-KKR.

Based in Menlo Park, CA, M2 is led by two mid-market software industry veterans - Mark Duffell, the former chief operating officer of Epicor Software, and Michael Piraino, one-time CFO at the mid-market ERP provider.

In looking for investment opportunities, M2 will target "mid-market enterprise software and service businesses requiring specific operational expertise or [that] are ready for consolidation," according to a company statement. Backer Accel-KKR, which was created in 2000 as a joint venture of equity investors Accel and KKR, defines its investment sweet spot as companies with $15 million to $150 million in revenue. Neither company would disclose the monetary value of Accel-KKR's M2 sponsorship.

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