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RealTime IT News

Francisco Partners Buys XcelleNet from Sterling Commerce

Private equity firm Francisco Partners acquired Sterling Commerce's Managed Systems Division, formerly known as XcelleNet.

MSD will operate as an independent, privately-held company based in Atlanta and will again be called XcelleNet Inc.

Financial specifics of the deal were not disclosed.

MSD's current management team, headed by Joan Herbig as chief executive officer, will remain on board.

Francisco Partners is focused on buyout and recapitalization investments in technology companies. It targets public companies, divisions of public companies and private companies with transaction values ranging from $50 million to $2 billion.

The firm's principals include Sandy Robertson, who founded two technology investment banks, Robertson Stephens Inc. and the predecessor firm to Montgomery Securities.

XcelleNet is a provider of enterprise-wide management solutions for end-user devices. XcelleNet's CONNECT:Manage solution enables enterprises to manage applications and content for laptops, PC companions, handhelds and smart phones. The company's RemoteWare (formerly CONNECT:Remote) is a retail polling and management solution for remote PCs and point-of-sale devices.