M&A Deal Summary

Francisco Partners, Great Hill Partners and Insight Partners Acquire NMI

On September 7, 2017, private equity firm Francisco Partners, private equity firm Great Hill Partners and venture capital firm Insight Partners acquired information technology company NMI from Bregal Sagemount

Acquisition Highlights
  • This is Francisco Partners’ 17th, Great Hill Partners’ 6th and Insight Partners’ 7th transaction in the Information Technology sector.
  • This is Francisco Partners’ 69th, Great Hill Partners’ 57th and Insight Partners’ 41st transaction in the United States.
  • This is Francisco Partners’ 1st, Great Hill Partners’ 4th and Insight Partners’ 2nd transaction in Illinois.

M&A Deal Summary

Date 2017-09-07
Target NMI
Sector Information Technology
Buyer(s) Francisco Partners
Great Hill Partners
Insight Partners
Sellers(s) Bregal Sagemount
Deal Type Secondary Buyout
Advisor(s) Financial Technology Partners (Financial)
Goodwin Procter (Legal)

Target

NMI

Roselle, Illinois, United States
website
NMI provides payments enablement technology that empowers ISOs, ISVs, VARs and payment facilitators to offer branded payment gateway services without building or maintaining their own technology. NMI enables critical payment functionality to affiliates and merchants with its white-labeled, security-focused, feature-rich, omni-channel platform. NMI was formed in 2001 and is based in Roselle, Illinois.

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Buyer(S) 3

Buyer

Francisco Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1999
PE ASSETS 45.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Francisco Partners' headquarters in San Francisco, California.
Francisco Partners' headquarters in San Francisco, California.

Francisco Partners is a private equity firm focused exclusively on investments in technology and technology-enabled services. Specific areas of interest include semiconductors, capital equipment, electronics components, systems and manufacturing, IT services and business process outsourcing, communications, security and enterprise applications, and infrastructure software. Prospective investment situations include divisional buyouts, growth equity financings, acquisitions of private companies, sponsored mergers and acquisitions, and take-privates. Francisco Partners looks for opportunities where it can commit a minimum of $100 million per investment. Francisco Partners was formed in 1999 and is based in San Francisco, California.


DEAL STATS #
Overall 84 of 146
Sector (Information Technology) 17 of 26
Type (Secondary Buyout) 9 of 24
State (Illinois) 1 of 5
Country (United States) 69 of 121
Year (2017) 5 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-05 T-System

Dallas, Texas, United States

T-System is a developer of clinical documentation and coding solutions for hospital-based emergency departments and urgent care facilities. T-System was established in 1996 and is based in Dallas, Texas.

Sell $200M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-25 BluJay Solutions

Holland, Michigan, United States

BluJay Solutions is a provider of cloud-based, logistics execution platform. BluJay Solutions was founded in 1972 and is based in Holland, Michigan.

Buy -
Buyer

Great Hill Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1993
PE ASSETS 12.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Great Hill Partners is a private equity firm focused on growth equity and recapitalization investments in well established public and private companies valued put to $1 billion. Great Hill targets companies within consumer services, business services, financial technology, healthcare, internet, logistics, media, communications, technology services, software and transaction processing. The Firm invests in the range of $25 to $500 million per transaction. Great Hill prefers companies located in the US, but will also consider opportunities in Europe and Latin America. Great Hill Partners was formed in 1993 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 66 of 91
Sector (Information Technology) 6 of 8
Type (Secondary Buyout) 8 of 14
State (Illinois) 4 of 4
Country (United States) 57 of 75
Year (2017) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-14 ZoomInfo

Waltham, Massachusetts, United States

Zoom Information, Inc. is a B2B data provider. ZoomInfo combines user behaviors, business data, and artificial intelligence to streamline sales workflow and deliver revenue results. Zoom Information, Inc. was founded in 2000 and is based in Waltham, Massachusetts.

Buy $240M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-27 Mission

Los Angeles, California, United States

Mission is a managed services provider for public cloud platforms including Amazon Web Services (AWS), Mission provides consulting and managed services, and has built a technology portfolio of solutions that ensures the successful onboarding, operation, and optimization of our customers’ technology environments to the cloud.

Buy -
Buyer
DESCRIPTION

Insight Partners is a growth capital investment firm focused on early to later stage investments principally in the software sector. Insight Partners was formed in 1995 and is based in New York, New York.


DEAL STATS #
Overall 50 of 86
Sector (Information Technology) 7 of 21
Type (Secondary Buyout) 13 of 19
State (Illinois) 2 of 3
Country (United States) 41 of 69
Year (2017) 8 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-30 Tintri

Mountain View, California, United States

Tintri, Inc. offers an enterprise cloud infrastructure built on a public-cloud like web services architecture and RESTful APIs. Organizations use Tintri all-flash storage with scale-out and automation as a foundation for their own clouds—to build agile development environments for cloud native applications and to run mission-critical enterprise applications. Tintri enables users to guarantee the performance of their applications, automate common IT tasks to reduce operating expenses, troubleshoot across their infrastructure, and predict an organization’s needs to scale—the underpinnings of a modern data center. Tintri, Inc. was formed in 2008 and is headquartered in Mountain View, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-23 Bullhorn

Boston, Massachusetts, United States

Bullhorn is a provider of SaaS-based front office software for staffing and recruiting firms. Bullhorn’s offerings combine applicant tracking, customer relationship management, social media recruiting, online job posting, candidate sourcing, email and calendar integration, and business development tools. Bullhorn was founded in 1999 and is based in Boston, Massachusetts.

Buy -

Seller(S) 1

SELLER

Bregal Sagemount

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 2012
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Bregal Sagemount is a growth-focused private capital firm. The Firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount invests $8 to $150 million per transaction in a variety of sectors including software, digital infrastructure, healthcare IT, healthcare services, business and consumer services, financial technology, and specialty finance. Bregal Sagemount was formed in 2012 and is headquartered in New York City.


DEAL STATS #
Overall 16 of 34
Sector (Information Technology) 8 of 12
Type (Secondary Buyout) 8 of 15
State (Illinois) 2 of 2
Country (United States) 15 of 32
Year (2017) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-16 Options

London, United Kingdom

Options is a provider of outsourced financial technology and managed IT services to the global capital markets. Options clients include the leading global investment banks, hedge funds, funds of funds, proprietary trading firms, market makers, broker/dealers, private equity houses and exchanges. Options was founded in 1993 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-29 Accela

San Ramon, California, United States

Accela provides a platform of cloud-based productivity and civic engagement software to governments of all sizes worldwide. The Accela Civic Platform includes cost-effective solutions to manage critical enterprise functions and mobile apps to foster greater citizen engagement. From asset, land, and legislative management to licensing, finance, environmental health, and more, its software drives efficiency for more than 2,000 governments worldwide. Accela was formed in 1999 and is based in San Ramon, California.

Sell -