MENLO PARK Calif. Investor Accel-KKR, based here, said it acquired controlling interest in iTradeNetwork Inc. of Pleasanton, Calif., a provider of subscription-based software services for e-business and supply-chain management used by foodservice suppliers, distributors and operators, among others.
Sources at Accel-KKR said the balance of the equity in the 8-year-old iTradeNetwork was assumed by company management and Boston-based ABRY Partners. The financial terms of the transaction were not disclosed, but the parties involved said iTradeNetwork founder and chief executive Robert Bonavito and other executives will continue in their current roles.
"We are delighted to be increasing our investment in a business that is well-positioned for continued growth and market leadership," Accel-KKR managing director Tom Barnds said.
