Tag: Associates

05
Oct
2020
Posted in technology

John McAfee, McAfee Associates Founder, Indicted on Tax Evasion Charges

John McAfee, a computer programmer best known for his anti-virus software, has been indicted on federal tax evasion charges after allegedly hiding assets from the IRS, including real property, a vehicle, and a yacht, the Department of Justice said Monday. McAfee, the founder of McAfee Associates, has been charged with tax evasion and willful failure to file tax returns, according to an unsealed June indictment following his arrest in Spain. Prosecutors allege McAfee earned millions of dollars from promoting cryptocurrencies, consulting, speaking engagements, and selling his life story for a documentary—but failed to file tax returns from 2014 and 2018. To avoid tax liability, McAfee allegedly directed his income to several bank accounts and cryptocurrency accounts and bought several items, including real estate, a yacht, and a car. The indictment, however, does not allege McAfee received any income from the anti-virus company he once founded.

The announcement comes just hours after the U.S. Securities and Exchange Commission (SEC) sued McAfee for allegedly making over $23.1 million in undisclosed compensation by recommending seven cryptocurrency offerings on Twitter that were false or misleading. “Potential investors in digital asset securities are entitled to know if promoters were compensated by the issuers of those securities,” Kristina Littman, Cyber Unit Chief said in a statement, adding that McAfee “allegedly leveraged his fame to deceptively tout numerous digital asset securities to his followers without informing investors of his role as a paid promoter.”

Read it at Department of Justice

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04
Oct
2020
Posted in software

TA Associates Completes Significant Growth Investment in Priority Software

TA Associates, a leading global growth private equity firm, today announced that it has completed a significant growth investment in Priority Software Ltd., a leading global provider of Enterprise Resource Planning (ERP) software. TA joins existing investor Fortissimo Capital, a leading private equity firm based in Israel and focused on special situations and growth opportunities, as an institutional investor in Priority Software. Financial terms of the transaction were not disclosed.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201004005040/en/

Founded in 1986, Priority Software provides end-to-end cloud-based (SaaS) and on-premise business management solutions for organizations of all sizes to improve business efficiency and the customer experience. The company’s Priority PRO product provides comprehensive ERP software for medium to large organizations encompassing demand planning, manufacturing operations, financial management, human capital management, procurement and supply chain management. Priority Software also provides business management software for smaller companies that focuses on financial management, reporting and accounting. The company has more than 10,000 customers and over 300,000 end users across multiple end markets, including manufacturing, construction, healthcare and pharma, services, and retail and wholesale. Priority Software has more than 200 employees located across five offices in Israel, the U.S., the UK and Belgium.

“TA’s extensive experience investing in the enterprise software space and in partnering with growing companies like Priority Software made the firm an attractive investment partner,” said Andres Richter, CEO of Priority Software. “We’ve identified opportunities to accelerate our growth and further expand Priority Software’s market penetration both nationally and internationally, and we believe that TA will be a valuable partner for us alongside Fortissimo to help us realize our ambitions.”

“Priority Software is considered by many to be a market leader in the Israeli ERP space, and we believe that the company has significant untapped potential,” said