Epicor Comments on the Termination of Elliott Associates’ Tender Offer
IRVINE, Calif. (November 21, 2008) – Epicor Software Corporation (NASDAQ:EPIC), a leading
provider of enterprise business software solutions for the midmarket and divisions of Global
1000 companies, today issued the following statement in response to Elliott Associates L.P.’s
announcement that it has terminated its previously announced tender offer for all outstanding
shares of common stock of Epicor.
“Epicor remains committed to building stockholder value through the execution of its business
plan, product strategy and roadmap. We believe that our strong slate of existing and new ERP
and Retail products and services, including the release of Epicor 9 which is expected to become
generally available during the fourth quarter, provide excellent near and long term opportunities
to gain market share, while also providing the latest upgrade and migration path for our more
than 20,000 customers worldwide. With retention rates consistently in the 94% range, these
customers provide excellent high margin recurring maintenance revenues for Epicor that are
expected to approach or exceed $200 million for fiscal year 2008. We believe the company is in
an excellent position to drive revenue growth and solid cash flows and we look forward to
delivering sustained growth and value creation for our stockholders.”
Wilson Sonsini Goodrich & Rosati is acting as legal advisor and UBS Investment Bank is acting
as financial advisor to Epicor.
Source: Epicor
