Another possibility would be a hardware company looking to get into enterprise applications. Hewlett-Packard and IBM would seem to be less likely suitors given their focus on large enterprises, but Dell's SMB pedigree, as well as its desire to grow its software business, makes it more of a possibility.
It could also end up that another private equity firm buys Epicor, or the company is broken up and sold in pieces, said analyst Frank Scavo , managing partner of IT consulting firm Strativa.
The best Epicor's customer base can hope for is a buyer "that has big pockets and can make investments in these systems," Scavo said. "It's as good as you can expect for a vendor that has such a diverse portfolio."
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