Epicor Acquires Spectrum Human Resources Systems

December 14, 2010 – Epicor Software Corporation, a provider of enterprise business software solutions to the midmarket and Global 1000 companies, has acquired Denver-based SPECTRUM Human Resource Systems Corporation for approximately $16 million in cash, subject to certain closing adjustments. With approximately 100 employees, over 430 direct customers and projected full-year 2010 revenues of approximately $14 million, Spectrum’s Web-based human resource and talent management solutions will be the core of the newly formed Epicor Human Capital Management (HCM) group. The acquisition broadens Epicor’s position as a leading provider of complete end-to-end enterprise business solutions to the manufacturing, distribution, retail, hospitality and services sector. “We are excited to join forces with Epicor and the opportunity it creates to rapidly accelerate the momentum Spectrum has built in the HCM market,” said Sybll Romley, CEO and president of Spectrum. “The economic downturn has shifted much of the focus of corporate HR from recruitment and on-boarding to talent management and employee development. With increasingly decentralized workforces, the rise of social networking, and rapidly evolving government, privacy, and regulatory compliance requirements, the value of a truly integrated HCM solution that aligns HR best practices with the overall business objectives of a company is significant.”