Quark Software Inc. has been acquired by Parallax Capital Partners LLC, a southern California-based private equity firm, founded in January 1999 to make investments in middle market software and related technology companies. It has since acquired more than 20 companies typically generating anywhere from $5 to $100 million in annual revenues.
Parallax states it intends, through organic growth and acquisitions, to help Quark accelerate the adoption of its content automation solutions, which enables organizations to deliver content (text, video, data, etc.) to any format and channel – mobile, print, Web and more. In May 2017, Quark also released a new version of its QuarkXPress software.
Quark has positioned itself as a leader in content automation and was recently selected as a Gartner Cool Vendor in Content Services and a 2017 SIIA CODiE Award finalist for Best Multi-Channel Publishing Platform.
“Quark has achieved what so many established brands fail to, which is to reinvent our company in the face of insurmountable odds,” said Quark President and CEO Ray Schiavone. “Through content automation, today Quark enables some of the world’s largest organizations to transform customer experience, reduce time-to-market, improve compliance and reduce costs.”
Financial details of the acquisition were not released. Piper Jaffray, an investment bank and asset management firm, served as the exclusive financial advisor to Quark in this transaction.
“Quark is having a transformational impact within a wide range of industries, completely redefining how organizations create, manage, publish and deliver business-critical content,” said James Hale, Managing Partner at Parallax. “This is a company with outstanding talent and leadership, innovative technology and acclaimed customer base.”
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