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Accel-KKR backs launch of new private equity firm M2 Technology Partners
18/06/2008. Source: AltAssets. 
 Menlo Park-headquartered technology private equity firm Accel-KKR is backing the launch of software and services-focused private equity firm M2 Technology Partners. Financial details were not disclosed.
The newly-formed firm will be led by Mark Duffell and Michael Piraino, the former president and COO, and former executive vice president and CFO of Epicor Software Corporation, respectively.
Duffell and Piraino will also serve as advisors to Accel-KKR and be members of its operating advisory committee.
Tom Barnds, Accel-KKR managing director, said, 'We are extremely pleased to be joining forces with Mark and Michael. We have known them both for a number of years and we have great respect for their abilities.'
Duffell added, 'The blend of the core competencies of Accel-KKR and M2 creates a powerful acquisition vehicle in the mid-market enterprise software and services sector, a space where there continues to be strong potential for value creation.'
Accel-KKR targets investments in mid-market technology companies with between $15m to $150m in revenue. In December of last year, the firm acquired a majority stake in software business iTradeNetwork.
Copyright © 2008 AltAssets
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