Supply chain software company RedPrairie has been acquired by private equity group New Mountain Capital. It was previously owned by Francisco Partners, another private equity group.
The deal puts an end to plans for an initial public offering which were announced by RedPrairie in November last year.
Mike Mayoras, RedPrairie chief executive said: “Our relationship with New Mountain Capital will allow us to reach our strategic goals quickly, efficiently and with certainty. We believe there are significant opportunities to provide more value to our customer base by expanding our product portfolio and entering new markets.”
Alok Singh, managing director of New Mountain Capital, said: “We aim to work closely with RedPrairie’s management team and help them accelerate their growth and strategic development, making them an even more valued partner to their customer base.”