MarchFirst gets $150M from Francisco Partners

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Chicago--MarchFirst Inc. has received a $150 million investment from Francisco Partners, a San Francisco-based private equity firm. Francisco will invest the capital in exchange for shares of MarchFirst preferred stock that will equate to 17% ownership. The financing round is a timely one for MarchFirst, which recently slashed its work force by 10% and whose stock has been battered. Its shares have been trading in the low single digits, off a 52-week high of $72 5/16.
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