Private Equity Firm With $800 Million in Available Capital Targets
High-Growth, Human Capital Management Arena for Strategic First
WHITE PLAINS, NY, Sept. 29 /CNW/ - Bedford Funding, a $400 million
private-equity firm (with an additional $400 million available in
co-investment capital) specializing in investments in the software and IT
services sector, announced today its acquisition of Authoria, Inc., the market
leader in comprehensive talent management software solutions, for
$63.1 million. In addition to the purchase price, Bedford Funding will make an
additional $8 million investment in working capital to enhance marketing and
sales initiatives and to accelerate overall corporate growth for Authoria,
With extensive senior management experience in the software industry,
Bedford Funding has, over the last year, closely examined market opportunities
throughout the software sector, and its executive team has been deliberate
with both its pace and its focused market entry with today's news. Bersin &
Associates, a leading research organization with the largest library of
best-practices, case studies, tools, and industry research in the talent
management market, estimates this segment at approximately $2.3 billion today.
Bersin projects that the talent management market will experience an annual
growth rate of approximately 20 percent per year over the next five years.
"Today's investment of more than $70 million to acquire and propel
Authoria, the only fully integrated talent management solution built on a
single platform, positions Bedford Funding squarely in a fast-growing market
that is not yet deeply penetrated," said Charles S. Jones, Managing Partner of
Bedford Funding. "We will continue to seek investment opportunities in this
growing sector looking for product suites which extend the Human Capital
Management (HCM) portfolio and address the customized needs of companies in
target vertical markets."
Regardless of the economic climate, talent management initiatives will
become increasingly important to every company's success. As the U.S.
population ages, as the country faces worker shortages and as businesses are
challenged to attract and retain their most valuable employees, the strongest
companies will look to improve their effectiveness, efficiency and
competitiveness by more closely aligning and measuring individual performance
with corporate goals. In this environment, talent management initiatives and
software solutions will play an increasingly critical role for companies large
and small and across multiple vertical markets.
Authoria(R) helps the world's most competitive employers achieve superior
business results, by optimizing the way they recruit, develop, compensate,
retain, and engage top talent. Designed for business managers as well as HR
professionals, the company's comprehensive talent management solutions enable
more effective recruiting, performance management, compensation management,
and succession planning across an organization. Authoria serves more than 300
large organizations and 4 million managers and employees with our on-demand
Internet-based solutions. Customer companies include Aetna, Alcon, and Boeing.
For more information, visit www.authoria.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 on the software and IT services sectors. 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, please visit the company's website at
For further information:
For further information: Charles Jones, Bedford Funding, (914) 287-4890,