Strategic Investment Positions EtQ to Accelerate Innovation Efforts and Growth Strategy
FARMINGDALE, NY — EtQ, a provider of quality management system software, has been acquired by TCV, one of the largest technology focused growth equity firms. TCV brings significant experience in software buyouts, having partnered with many leading software companies, including IQMS, Seismic Micro-Technology (SMT), and Genesys. The investment represents EtQ’s first institutional investment since its founding in 1992 and will enable the company to accelerate its innovation efforts, enhance its product development, and expand its international operations. Terms of the transaction were not disclosed.
“We selected TCV from many suitors as our first institutional investment partner given their long history of supporting leading technology companies to achieve their strategic objectives and reach their full potential,” said Glenn McCarty, CEO and co-founder of EtQ. “We sought a partner that would not only align with us on achieving our vision and advancing our innovation strategy, but also provide us with the experience, flexibility, and resources to accelerate our growth. TCV’s investment will allow EtQ to deepen and expand our mission of bringing best-in-class software solutions to our customers.”