A formal deal was signed by Blackstone to purchase the majority of Priority Software, a mission-critical business software company situated in Tel Aviv, Israel.
The deal’s total value was not made public.
With Blackstone’s investment, the business will be able to maintain its leadership position in the ERP software industry and expand into new markets and sectors.
About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds.
About Priority Software
Priority Software, under the direction of CEO Sagive Greenspan, provides ERP solutions and mission-critical business software to a range of sectors, improving corporate administration via cloud-based apps. Its product package, which covers hospitality, retail management, and educational solutions, is backed by more than 100 partners globally. The solutions help organizations drive development, streamline operations, and boost profitability while making sure they are prepared to handle future challenges and seize new possibilities in their particular industries. They do this by automating complicated procedures and centralizing data management.
Over 17,000 clients and over 300,000 end users in various end markets make up the company’s clientele. Over 500 people work at Priority, which is spread across five offices in Belgium, the US, and Israel.
