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.
