A private equity firm whose leadership includes former EMC chief executive Joe Tucci has bought a majority stake in BackOffice Associates, a business data management firm based on Cape Cod, the company said Thursday.
Bridge Growth Partners LLC, of which Tucci is chairman, did not disclose the amount of its investment. But BackOffice, headquartered in Hyannis, said the figure was substantially higher than a $30 million investment it received from Goldman Sachs in 2008.
BackOffice has about 800 employees. Chief executive David Booth will keep his job and remain on the company’s board of directors.
“We are thrilled to have Bridge Growth Partners as our majority investor and look forward to taking our customers’ data-driven results to the next level with new capabilities and value,” he said in a statement.
Tucci left EMC after engineering the $60 billion sale of the one-time Massachusetts tech giant to Dell. Inc.Andy Rosen can be reached at firstname.lastname@example.org. Follow him on Twitter at @andyrosen.