Former Cerner Vice President Kevin McArdle is co-founding and will serve as CEO of Big Band, a software-as-a-service holding company looking to deploy $100 million to buy software companies.
Alongside Mr. McArdle, Chris Reedy and Jason Heath co-founded the company. Mr. McArdle spent 15 years at Cerner, starting as a sales leader and ending as vice president, according to his LinkedIn.
In 2023, the holding company will target businesses with $1 million to $10 million in revenue.
"In many ways we're trying to do the opposite of what traditional private equity would do. We want to buy great companies and own them as long as we can," Mr. McArdle said in a Feb. 28 Big Band news release. "It's really important to note that all our businesses will have their own CEO, culture, and independence. That doesn't sound novel, but in fact it is for smaller businesses in holding companies."