Tuesday, November 8, 2016

Francisco Partners Acquires Prometheus Group

San Francisco-based private equity investor Francisco Partners has acquired the majority stake in Raleigh, North Carolina-based Prometheus Group, a provider of enterprise asset management and plant maintenance software. Financial details of that acquisition were not disclosed. The two said that Prometheus founder and CEO Eric Huang has retained a "substantial" ownership position in the company. Prometheus was advised by Pacific Crest Securities and Holland & Knight LLP in the deal, with Francisco tapping Signal Hill and Paul Hastings LLP for their services.