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FrontRange bought by equity firm

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FrontRange bought by equity firm

Barney Beal, News Editor

FrontRange Solutions Inc., the maker of GoldMine CRM and HEAT help desk applications, will be acquired by a private equity firm.

Francisco Partners, a Menlo Park, Calif.-based equity firm focused on technology, has agreed to acquire all of the shares of Pleasanton, Calif.-based FrontRange for approximately $200 million. The deal requires regulatory and shareholder approval and is expected to close in about 90 days.

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"This investment by Francisco Partners will enable FrontRange Solutions to continue to pursue our aggressive growth strategy," Michael McCloskey, CEO, said in a statement. "We are committed to providing our customers and partners with market-leading products and superior service and support. This investment further strengthens that commitment." further strengthens that commitment."

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