Monday, September 29, 2008

Authoria Acquired by Bedford Funding for $63.1 Million - Waltham, MA

Authoria, a privately held, Waltham-based provider of talent management software, announced on Monday that it has agreed to be acquired by Bedford Funding, a private equity firm, for $63.1 million. In addition to the purchase price, Bedford Funding will make an additional $8 million investment in working capital to enhance Authoria’s overall corporate growth, according to the announcement. Authoria founder Tod Loofbourrow will continue to lead the company as its CEO. Authoria serves more than 300 large organizations and 4 million managers and employees with its Internet-based softwarwe. Its customers include Aetna, Alcon, and Boeing.


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