Home Fairfield Norwalk-based etouches acquired by Steve Young’s private equity firm

Norwalk-based etouches acquired by Steve Young’s private equity firm

The cloud event management software and sourcing solutions provider is the latest purchase by HGGC.

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steve young and HGGC
HGGC co-founder and former NFL star quarterback Steve Young with members of the private equity firm’s team.

Norwalk-based etouches, a provider of cloud event management software and sourcing solutions, was acquired by HGGC, a private equity firm co-founded by Greenwich native Steve Young and headquartered in Palo Alto, California.

The terms of the transaction were not disclosed, although HGGC said that etouches was the final platform investment made from its $1.33 billion second fund. It is also the seventh marketing services technology platform that HGGC invested in, following AutoAlert, Dealer FX, Integrity, MyWebGrocer, Selligent, and SSI.

In a statement released by the companies, HGGC’s acquisition is being positioned to “help etouches significantly expand its business and further invest in its market-leading cloud platform to win a greater share of the $6 billion event management software (EMS) and venue sourcing market.”
Farouk Hussein, principal at HGGC, noted that event management is “an enormous business expense, accounting for up to 3 percent of total revenue and nearly a quarter of all B2B marketing budgets – approximately $14 billion.”

 

 

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Phil Hall's writing for Westfair Communications has earned multiple awards from the Connecticut Press Club and the Connecticut Society of Professional Journalists. He is a former United Nations-based reporter for Fairchild Broadcast News and the author of 10 books (including the 2020 release "Moby Dick: The Radio Play" and the upcoming "Jesus Christ Movie Star," both published by BearManor Media). He is also the host of the SoundCloud podcast "The Online Movie Show," co-host of the WAPJ-FM talk show "Nutmeg Chatter" and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill's Congress Blog, Profit Confidential, The MReport and StockNews.com. Outside of journalism, he is also a horror movie actor - usually playing the creepy villain who gets badly killed at the end of each film.

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