Date Posted: 12/15/2010
Epicor to buy Spectrum Human Resource for $16M
Epicor to buy Spectrum Human Resource for $16 million in cash
IRVINE (AP) -- Business software maker Epicor Software Corp. said Monday it has agreed to buy Spectrum Human Resource Systems Corp., a maker of web-based human resource systems, for about $16 million in cash.
Epicor expects the deal to close by Dec. 31. Spectrum, based in Denver, has about 100 employees and more than 430 direct customers, the company said.
Epicor does not expect the acquisition to have a material effect on its 2010 results, though it does expect it to add slightly to its revenue and earnings beginning in the first quarter of 2011.
Shares of Epicor closed down 20 cents at $10.41.
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