Tampa, Fla. – (January 2010) – Lovett Miller & Co. portfolio company, PeopleClick, Inc. (“PeopleClick”), a talent management software-as-a-service (“SaaS”) company based in Raleigh, NC, was sold for $100 million in cash to an affiliate of Bedford Funding, a private equity firm that specializes in investments in the software and IT. Bedford owns Authoria, another leader in the talent management market. The combination will create PeopleClick Authoria, a fully-integrated talent management solutions provider that currently serves 60 percent of the Fortune 100 companies in the Human Capital Management space. All aspects of the PeopleClick’s Vendor Management System, Compliance and Diversity, and Talent Acquisition products will be integrated with Authoria’s Talent Management products. W. Scott Miller, Co-Founder and Managing Director of Lovett Miller & Co., served on Peopleclick’s board of directors.
About Lovett Miller & Co.
Lovett Miller & Co., co-headquartered in Jacksonville and Tampa, Florida, provides growth capital and shareholder liquidity for rapidly growing, privately held companies throughout the United States. The Firm invests in a range of financings including (1) growth capital, (2) minority shareholder liquidity transactions, and (3) growth buyouts. Lovett Miller & Co. typically invests $3 to $10 million in equity per company, although it is willing to consider both smaller and larger equity investments. For more information on Lovett Miller, visit www.LovettMiller.com.
PeopleClick, Inc. provides workforce solutions to help enterprises efficiently build and manage a productive and diverse workforce. Based in Raleigh, N.C., PeopleClick offers Global 2000 companies technology and services for recruitment management, vendor management, employee management and affirmative action/EEO compliance. The company has more than 2,100 clients in 214 countries and territories, including 54 Fortune 100, and has a strong vertical market presence in retail and healthcare. For more information on PeopleClick, visit PeopleClick.com.
About Bedford Funding
Bedford Funding is a private equity firm specializing in investment opportunities in the consolidating and fragmented technology sector with an initial focus in the software and IT services sector. The firm offers extensive strategic operating and financial management expertise and advice with the intention of providing exceptional performance and financial returns for its portfolio companies and its investors. Bedford Funding serves the IT and investment communities worldwide from its headquarters located in White Plains, NY. For more information on Bedford Funding, log on to BedfordFunding.com. For more information on this transaction, visit www.PeopleclickAuthoria.com.