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Illustration: Eniola Odetunde/Axios

Clayton, Dubilier & Rice has agreed to buy Texas-based business management software company Epicor Software from KKR for $4.7 billion (including debt).

Why it matters: It's the largest enterprise software deal so far in 2020. It's also a big win for KKR, which tried but failed to sell Epicor last year.

  • ROI: KKR bought Epicor in 2016 from Apax Partners for around $3.3 billion (including debt), and it recently extracted $560 million via a $1.7 billion dividend recap.

The bottom line: "The company, which makes back-office and sales software for manufacturing, distribution, retail and service-industry customers ... has completed a number of acquisitions under KKR’s ownership. Those include deals for electronic-data interchange software maker 1 EDI Source Inc. and warehouse-management software provider Majure Data," writes the Wall Street Journal's Miriam Gottfried.

Go deeper

Ina Fried, author of Login
Sep 18, 2020 - Technology

Scoop: How the Oracle-TikTok deal would work

Illustration: Aïda Amer/Axios

An agreement between TikTok's Chinese owner ByteDance and Oracle includes a variety of concessions in an effort to make the deal palatable to the Trump administration and security hawks in Congress, according to a source close to the companies.

Driving the news: The deal, in the form of a 20-page term sheet agreed to in principle by the companies, would give Oracle unprecedented access and control over user data as well as other measures designed to ensure that Americans' data is protected, according to the source.

Buffett eyes slow U.S. progress, but says "never bet against America"

Warren Buffett in New York City in 2017. Photo: Daniel Zuchnik/WireImage

Warren Buffett called progress in America "slow, uneven and often discouraging," but retained his long-term optimism in the country, in his closely watched annual shareholder letter released Saturday morning.

Why it matters: It breaks months of uncharacteristic silence from the 90-year-old billionaire Berkshire Hathaway CEO — as the fragile economy coped with the pandemic and the U.S. saw a contentious presidential election.

Restaurant software meets the pandemic moment

Illustration: Annelise Capossela/Axios

Food delivery companies have predictably done well during the pandemic. But restaurant software providers are also having a moment as eateries race to handle the avalanche of online orders resulting from severe in-person dining restrictions.

Driving the news: Olo filed last week for an IPO and Toast is rumored to be preparing to do the same very soon.