Quark today released a letter to its customers stating that it has been purchased by Platinum Equity, a California-based private equity firm. The company had been privately held by the Ebrahimi family since 2000.
“Quark is a legendary brand that helped create the desktop publishing
market and is now helping organizations transform how they publish
content both to print and digital media,” said Brian Wall, partner at
Platinum, in a statement. “Quark is committed to its loyal and dedicated
user base and we are enthusiastic about the company’s new products,
which are gaining traction and generating positive reviews. We believe
that with their expertise and innovative software, Quark has the
potential to revolutionize publishing again.”
Quark was founded in 1981 by Tim Gill and Mark Pope. Pope left in 1990, selling his shares to the rest of the executives. Fred Ebrahimi joined the company in 1986 as CEO. When Gill departed the company in 2000, he sold his shares to Ebrahimi, placing sole ownership in his hands. Ebrahimi retired in 2006 and passed all of his shares to his children.
Since its founding in 1995, Platinum Equity has closed over 115 deals worth $30 billion in aggregate revenues at the time of closing.
Platinum Equity has already “initiated a process focused on transitioning Quark to new ownership.”
| A letter from the CEO Dear Loyal Customer:
I am writing to share some fantastic news with you: Platinum
This transition comes at an exciting time for our company and
As a global investment firm, Platinum Equity is
On behalf of the entire Quark team, I want to thank you once
Should you have any questions at all, please e-mail us. We hope you’ll share the confidence and excitement that we have for Regards,
Ray Schiavone |
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