M&A Deal Summary

Nordic Capital, Insight Venture Partners and 22C Capital Acquires Inovalon Holdings

On August 19, 2021, private equity firm Nordic Capital, venture capital firm Insight Venture Partners and private equity firm 22C Capital LLC acquired information technology company Inovalon Holdings, Inc. for 7.3B USD

Acquisition Highlights
  • This is Nordic Capital’s 8th, Insight Venture Partners’ 21st and 22C Capital’s 2nd transaction in the Information Technology sector.
  • This is Nordic Capital’s 1st, Insight Venture Partners’ 1st and 22C Capital’s 1st largest (disclosed) transaction.
  • This is Nordic Capital’s 10th, Insight Venture Partners’ 60th and 22C Capital’s 3rd transaction in the United States.
  • This is Nordic Capital’s 1st, Insight Venture Partners’ 1st and 22C Capital’s 1st transaction in Maryland.

M&A Deal Summary

Date 2021-08-19
Target Inovalon Holdings, Inc.
Sector Information Technology
Buyer(s) Nordic Capital
Insight Venture Partners
22C Capital LLC
Deal Type Going Private
Deal Value 7.3B USD
Advisor(s) J.P. Morgan Securities LLC (Financial)
Latham & Watkins (Legal)

Target

Inovalon Holdings, Inc.

Bowie, Maryland, United States
website
Inovalon is a provider of cloud-based platforms empowering data-driven healthcare. Through the Inovalon ONE Platform, the company brings to the marketplace a national-scale capability to interconnect with the healthcare ecosystem, aggregate and analyze data in real-time, and empower the application of resulting insights to drive meaningful impact at the point of care. Leveraging its platform, unparalleled proprietary datasets, and industry-leading subject matter expertise, Inovalon enables better care, efficiency, and financial performance across the healthcare ecosystem. From health plans and provider organizations to pharmaceutical, medical device, and diagnostics companies, Inovalon’s unique achievement of value is delivered through the effective progression of “Turning Data into Insight, and Insight into Action.” Inovalon was founded in 1998 and is based in Bowie, Maryland.

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Buyer(S) 3

Buyer

Nordic Capital

Stockholm, Sweden

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 12.5B EUR
SizeMega
Type Sector Agnostic
DESCRIPTION

Nordic Capital is a private equity investment firm that targets middle-market company investments located in Scandinavia and Northern Europe. Nordic seeks investments across a wide range of industries and prefers situations where there are 'opportunities for new industrial combinations, strategic repositioning, international expansion and operational improvements'. Nordic Capital was formed in 1989 and has offices in Stockholm, Copenhagen, London, Oslo, and Helsinki.


DEAL STATS #
Overall 119 of 126
Sector (Information Technology) 8 of 8
Type (Going Private) 6 of 6
State (Maryland) 1 of 1
Country (United States) 10 of 10
Year (2021) 8 of 9
Size (of disclosed) 1 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-15 Duco Technology Ltd.

London, United Kingdom

Duco Technology is a provider of software as a service (SaaS) solutions in the cloud to financial services, insurance and FinTech companies dealing with mission critical data management issues. Duco Technology was founded in 2010 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-13 Qred AB

Stockholm, Sweden

Qred is a provider of financing and payment services to small businesses in the Nordics and the Netherlands, with its fully automated credit system, digital platform, and easy, innovative solutions for entrepreneurs seeking financing. Qred was founded in 2015 and is headquartered in Stockholm, Sweden.

Buy -
Buyer

Insight Venture Partners

Investor Investor Investor Investor Investor

website


Category Venture Capital Firm
Founded 1995
PE ASSETS 20.0B USD
SizeMega
Type Sector Focused
DESCRIPTION

Insight Venture Partners is a venture capital and private equity firm focused on investing in and acquiring growth-stage software, internet, and data services companies. Insight Venture Partners was formed in 1995 and is based in New York City.


DEAL STATS #
Overall 77 of 79
Sector (Information Technology) 21 of 23
Type (Going Private) 6 of 6
State (Maryland) 1 of 1
Country (United States) 60 of 61
Year (2021) 4 of 4
Size (of disclosed) 1 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-04 EveryAction, Inc.

Washington, District of Columbia, United States

EveryAction is a provider of Digital, Fundraising, and Organizing SaaS tools to nonprofits and progressive campaigns. EveryAction clients raise billions of dollars, send billions of emails, and recruit millions of supporters. Built and supported by nonprofit experts, EveryAction's tools allow nonprofits of all sizes to optimize interactions with supporters and prospects, leading to the best outcomes. EveryAction is based in Washington, District of Columbia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-29 Armis, Inc.

Palo Alto, California, United States

Armis is a provider in enterprise IoT security services. Armis discovers devices on and off the network, continuously analyzes endpoint behavior to identify risks and attacks, and protects critical information and systems by identifying suspicious or malicious devices and quarantining them. Armis was established in 2015 and is based in Palo Alto, California.

Sell -
Buyer

22C Capital LLC

Investor Investor

website


Category Private Equity Firm
Founded 2017
SizeSmall
Type Sector Agnostic
DESCRIPTION

22C Capital is a private investment firm focused on opportunities in the business services, healthcare, and financial services sectors. 22C is a hands-on investor and will consider companies throughout the US. 22C Capital was formed in 2017 and is headquartered in New York City.


DEAL STATS #
Overall 3 of 3
Sector (Information Technology) 2 of 2
Type (Going Private) 1 of 1
State (Maryland) 1 of 1
Country (United States) 3 of 3
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-26 Accuity Delivery Systems LLC

Mount Laurel, New Jersey, United States

Accuity Delivery Systems is a revenue cycle management business that provides clinical documentation improvement, coding and quality assurance and provider education services to its hospital clients. Accuity Delivery Systems is based in Mount Laurel, New Jersey.

Buy -