Waud Capital Partners partnered with George Ahn, a software industry executive, to pursue investments in the vertically-focused application software industry. Ahn most recently served as the head of IBM’s Smarter Infrastructure software organization. Ahn was chief executive of software company TRIRIGA for six years prior to its acquisition by IBM in 2011.
Waud Capital Partners (“WCP”), a leading lower middle-market private equity firm, today announced that it has entered into a partnership with George Ahn, a highly accomplished software industry executive, to pursue investments in the vertically-focused application software industry. WCP and Mr. Ahn plan to establish a platform by investing in a software company and transforming it into a category leader by accelerating its growth, improving and extending its product suite, delivering outstanding service and support, and completing strategic add-on acquisitions.
WCP, a firm with a long history of partnering with exceptional management leaders to identify, acquire and build market-leading companies, has initially committed $100 million of equity capital to its partnership with Mr. Ahn. The partnership follows the recent close of WCP’s fourth private equity fund, Waud Capital Partners IV, which was significantly oversubscribed and closed at the hard cap of $1.056 billion of total capital commitments.
Mr. Ahn, a veteran of the application software industry for over 25 years, most recently served as the head of IBM’s Smarter Infrastructure software organization. During his tenure with IBM, Mr. Ahn had responsibility for industry-leading solutions, which included products such as Maximo and TRIRIGA. In that role, Mr. Ahn led initiatives that significantly accelerated growth, including expanding globally, migrating to the cloud and completing key acquisitions.
Previously, Mr. Ahn led TRIRIGA as its CEO for six years prior to its acquisition by IBM in 2011. As CEO, Mr. Ahn transformed TRIRIGA into a very profitable, high-growth company, which was recognized by analysts as the market leader in real estate and facilities management enterprise software. Prior to TRIRIGA, Mr. Ahn had success in senior leadership positions and created significant shareholder value at several of the software industry’s leading companies. Mr. Ahn served as the head of PeopleSoft’s CRM division, executive vice president and chief marketing officer of TIBCO, and general manager of Siebel Systems’ middle market CRM division…