M&A Deal Summary

ION Group Acquires Triple Point Technology

On July 13, 2013, ION Group acquired internet software and services company Triple Point Technology from ABRY Partners, JMI Equity and Welsh Carson Anderson & Stowe for 900M USD

Acquisition Highlights
  • This is ION Group’s 2nd transaction in the Internet Software and Services sector.
  • This is ION Group’s 3rd largest (disclosed) transaction.
  • This is ION Group’s 2nd transaction in the United States.
  • This is ION Group’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2013-07-13
Target Triple Point Technology
Sector Internet Software and Services
Buyer(s) ION Group
Sellers(s) ABRY Partners
JMI Equity
Welsh Carson Anderson & Stowe
Deal Type Add-on Acquisition
Deal Value 900M USD

Target

Triple Point Technology

Westport, Connecticut, United States
website
Triple Point Technology is a global provider of cloud and on-premise Commodity Management software that delivers advanced analytics for optimizing end-to-end commodity and energy value chains.

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Buyer(S) 1

Buyer

ION Group

Dublin, Ireland

website

Category Company
Founded 1998
Sector Software
DESCRIPTION

ION provides mission-critical trading and workflow automation software solutions to financial institutions, central banks, governments and corporations. The Company's proprietary software offers a flexible, open, customizable and cost-effective trading solutions that provides real-time integration of market data with internal systems.

DEAL STATS #
Overall 4 of 16
Sector (Internet Software and Services) 2 of 4
Type (Add-on Acquisition) 4 of 16
State (Connecticut) 1 of 1
Country (United States) 2 of 8
Year (2013) 2 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-10 Financial Software Systems

Horsham, Pennsylvania, United States

Financial Software Systems is a financial risk-management software and consulting firm headquartered in Horsham, Pennsylvania USA, with sales and support offices in London, Miami, San Francisco, Guayaquil, Singapore, Hong Kong and Hyderabad.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-06 Reval

New York, New York, United States

Reval is a global SaaS provider for Treasury and Risk Management, helping enterprises better manage cash, liquidity and financial risk, and account for and report on complex financial instruments and hedging activities.

Buy -

Seller(S) 3

SELLER

ABRY Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1989
PE ASSETS 12.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

ABRY Partners is a media and communications focused private equity investment firm. Specific areas of interest include television, publishing, convention/trade shows, for-profit training, couponing, monitoring services, telephone companies, communications towers, music libraries, database providers, wireless communications, and in-store advertisers. ABRY can provide both equity and mezzanine capital, typically committing $20 to $200 million of equity or $15 to $50 million of mezzanine capital per transaction. Prospective transaction situations include buyouts, expansion financings, platform acquisitions, consolidations, and recapitalizations. ABRY Partners was formed in 1989 and is headquartered in Boston, Massachusetts.

DEAL STATS #
Overall 38 of 98
Sector (Internet Software and Services) 1 of 9
Type (Add-on Acquisition) 19 of 51
State (Connecticut) 1 of 1
Country (United States) 34 of 85
Year (2013) 5 of 5
Size (of disclosed) 11 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-11 Navtech

Waterloo, Ontario, Canada

Navtech, Inc. is a provider of flight operations products (including electronic flight bag solutions, aeronautical charts and flight-planning services) to 400 aircraft operators.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-17 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.

Buy -
SELLER

JMI Equity

La Jolla, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1992
PE ASSETS 7.5B USD
Size Mega
Type Sector Focused
DESCRIPTION

JMI Equity is a private equity firm focused on investments in software, internet, business service, and healthcare IT. Targeted businesses typically help automate and optimize business and information technology processes. The Firm will consider investments at all stages of development, including early-stage companies, self-funded businesses requiring growth capital, and later stage businesses in need of buyout or recapitalization funding. JMI looks to commit at least $10 million per transaction. JMI Equity was formed in 1992 and maintains offices in San Diego and Baltimore.

DEAL STATS #
Overall 57 of 105
Sector (Internet Software and Services) 6 of 21
Type (Add-on Acquisition) 40 of 66
State (Connecticut) 3 of 4
Country (United States) 52 of 93
Year (2013) 2 of 5
Size (of disclosed) 6 of 34
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-17 Halogen Software

Ottawa, Ontario, Canada

Halogen Software, Inc. is a provider of cloud-based employee performance and talent management software.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-19 Empathica

Mississauga, Ontario, Canada

Empathica, Inc. is a provider of customer experience management platform for the retail industry. The Company empowers its clients to protect their brand equity and improve profitability by enabling them to measure, manage and improve the quality of their customer experiences.

Sell -
SELLER

Welsh Carson Anderson & Stowe

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1979
PE ASSETS 27.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Welsh Carson Anderson & Stowe (WCAS) is a mega-sized, specialist private equity firm focused on investments in growth-oriented companies operating within the healthcare and technology/tech-enabled services industries. WCAS will consider small and large transactions; including venture investments, growth equity investments, buy-and-build transactions, public-to-private acquisitions, and corporate carve-outs. The Firm prefers control situations and generally seeks opportunities in the US. Welsh Carson Anderson & Stowe was formed in 1979 and is based in New York City.

DEAL STATS #
Overall 41 of 73
Sector (Internet Software and Services) 1 of 3
Type (Add-on Acquisition) 27 of 43
State (Connecticut) 1 of 3
Country (United States) 40 of 70
Year (2013) 2 of 3
Size (of disclosed) 13 of 33
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-27 Bausch & Lomb

Rochester, New York, United States

Bausch & Lomb is a manufacturer of ophthalmic products.

Sell $8.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-20 Alert Logic

Houston, Texas, United States

Alert Logic is a provider of network, system, and application SaaS solutions for customers of hosting and cloud service providers. Alert Logic was founded in 2002 and is based in Houston, Texas.

Buy -
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