Quofore Sold to AFS Technologies, Providing an Exit for ABS Capital
October 25, 2012
After raising a healthy $20.25 million in venture funding, Quofore has been acquired by PE-backed AFS Technologies. The sale provides an exit for growth equity investor ABS Capital Partners, which led Quofore's $15 million Series A financing in 2009 and participated in the company's $5.25 million Series B round in 2011. Quofore's mobile software solutions for consumer products companies will strengthen AFS' enterprise platform, which caters to the food, beverage, logistics and financial sectors. PE firm ABRY Partners was a financial partner to AFS in the acquisition.