Read MoreQuadrant Software announced this week it has been acquired by Boston-based Candescent Partners, a private equity firm. In business more than 20 years with some 3,500 installations, Quadrant Software is the developer of FastFax fax servers and Formtastic electronic forms software. The solutions run on, and are integrated with, many IBM System i ERP applications. Candescent led the transaction with co-investors Harbert Mezzanine Capital, Bush O’Donnell Capital Partners, Massachusetts Capital Resource Company, and Brooke Private Equity Associates. The sale was effective November 13.