A Raleigh software company started during the dot-com boom has been sold to a private equity firm for $100 million.
Bedford Funding of White Plains, N.Y., bought Peopleclick and plans to merge the Raleigh company with another software firm it owns, Authoria.
The combined Peopleclick Authoria will employ about 500 people at two main offices in Raleigh and Waltham, Mass. There are no job cuts planned, said spokeswoman Abby Snyder. Typically, such unions led to some reductions down the road, as management looks to trim costs and make the merger pay off.
Both companies sell software and services that help other corporations manage their human resources functions, such as recruiting and managing employees. Peopleclick's clients include Best Buy, GlaxoSmithKline, McDonald's, WakeMed and Blue Cross Blue Shield of North Carolina.
Charles Jones, managing partner of Bedford, will take over as chairman and CEO of Peopleclick Authoria. He will split his time between Raleigh and Waltham, Snyder said. Private equity firms typically buy companies with an eye on later taking them public or selling them.
Ron Kupferman, CEO of Peopleclick, and Jim McDevitt, CEO of Authoria, will serve as vice chairmen.
Kupferman founded Raleigh-based Global Software in 1970, and it spun off Peopleclick in 2000. Peopleclick is one of downtown Raleigh's larger private employers.
Global Software, which last month moved to bigger offices in North Raleigh, is run by Kupferman's sons Matthew and Spencer.