Platinum Equity Acquires Quark
Los Angeles-headquartered Platinum Equity has acquired Quark, a provider of publishing software for professional designers and enterprise organizations.
Financial terms of the transaction were not disclosed.
"Quark is a legendary brand that helped create the desktop publishing market and is now helping organizations transform how they publish content both to print and digital media," said Brian Wall, partner at Platinum, who led the team pursuing the acquisition. "Quark is committed to its loyal and dedicated user base and we are enthusiastic about the company's new products which are gaining traction and generating positive reviews. We believe that with their expertise and innovative software, Quark has the potential to revolutionize publishing again."
Based in Denver, Quark provides a set of software applications targeted at creative professionals and the enterprise dynamic publishing market. These tools are components in a value chain of software products that enable the creation, management, publication, and delivery of content across a variety of media including print, e-mail, web, social media and the next generation of e-reader, tablet and mobile devices such as the iPad.
"This transition comes at an exciting time for our company and our customers. In the past few years we have made great strides in helping our customers realize dynamic publishing, have re-invigorated QuarkXPress and have readied Quark to take an early leadership position in digital publishing," said Raymond Schiavone, president and CEO at Quark. "Platinum Equity is well-positioned to help us continue to execute our dynamic publishing vision through their market reach, merger and acquisition experience, and operational support. This is the natural next step for Quark's evolution."
Wall said that Platinum Equity already has initiated a process focused on transitioning Quark to new ownership. The Platinum operations team is working together with the Quark management team to focus on Quark's core markets and create an acquisition strategy focused on expanding the breadth and depth of Quark's product capabilities and geographic coverage.