|
SUNNYVALE, CA, January 29, 2008– Liquid Engines, the leading provider of enterprise-class corporate tax management software, today announced the successful completion of a financial recapitalization with Incyte Capital, LLC, a San Francisco–based private equity firm active in the software and telecommunications industries. Under the new arrangement, Incyte will operate as a close partner to the company and will provide funding for continued growth and major corporate initiatives. Financial terms of the transaction were not disclosed.
Liquid Engines, founded in 2000, is dedicated to empowering tax professionals to develop and manage world-class tax organizations and is today a recognized leader and innovator in corporate tax technology. Armed with Liquid Engines’ solutions — which combine the power of people, process, and technology — corporate tax departments benefit from efficiency gains, increased certainty in their decisions, and enhanced insight into potential risks and opportunities.
“We are excited to have Liquid Engines join our portfolio of companies,” said Marc Gineris, founder of Incyte Capital. “We see strong growth potential in the tax technology segment and are impressed with the advancements Liquid Engines has made to date. We believe that the company’s brand is highly regarded in the industry; their employees are professional, knowledgeable, and dedicated; their products are of extremely high quality; and their customers derive important recurring value from the company’s products and services. We view this combination as a foundational formula for success and leadership in the industry.”
Tom Steding, CEO of Liquid Engines, added: “We view Incyte as the perfect partner for Liquid Engines. They are pragmatic, experienced, and professional, and can offer us the resources and support we need to deliver on our vision of becoming the industry leader.”
Incyte, founded in 2000, brings to Liquid Engines a wealth of knowledge and broad-based experience garnered from a consistent track record of successful investments. Employing a focused, partner-intensive approach intended to result in measurable benefits to all existing stakeholders, Incyte Capital is particularly experienced in enhancing the profitability and long-term sustainability of business models in the application software and business services sectors.
About Incyte Capital
Founded in 2000, Incyte Capital, together with its affiliates Incyte Capital Partners, LLC, and Incyte Capital Funding, LLC, is a privately held investment holding company focused exclusively on private equity control investments and recapitalization buyouts. The firm seeks investments in medium-size public and private companies.
About Liquid Engines,
Inc. >>
 back to news & events
|
