M&A Deal Summary

3M Acquires HighJump Software

On January 5, 2004, 3M acquired software company HighJump Software from Gemini Investors

Acquisition Highlights
  • This is 3M’s 1st transaction in the Software sector.
  • This is 3M’s 3rd transaction in the United States.
  • This is 3M’s 1st transaction in Minnesota.
Investment Fate
  • HighJump Software was divested to a consortium of buyers in 2008 for 85M USD.
  • HighJump Software was sold to a strategic buyer in 2014.
  • HighJump Software was divested to a consortium of strategic buyers in 2017.

M&A Deal Summary

Date 2004-01-05
Target HighJump Software
Sector Software
Buyer(s) 3M
Sellers(s) Gemini Investors
Deal Type Add-on Acquisition

Target

HighJump Software

Eden Praire, Minnesota, United States
HighJump Software, Inc. is a provider of supply chain management software that streamlines the flow of inventory and information from supplier to store shelf. HighJump Software was founded in 1983 and is based in Eden Praire, Minnesota.

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Buyer(S) 1

Buyer

3M

St. Paul, Minnesota, United States

Category Company
Founded 1902
Sector Diversified
Employees92,000
Revenue 24.6B USD (2024)
DESCRIPTION
Entrance to 3M's corporate campus in St. Paul, Minnesota.
Entrance to 3M's corporate campus in St. Paul, Minnesota.

3M is a diversified manufacturing and technology company that produces a variety of adhesives, abrasives, safety products, chemicals, and other goods for consumers and businesses. 3M was incorporated in 1902 and is based in St. Paul, Minnesota.


DEAL STATS #
Overall 3 of 81
Sector: Software M&A 1 of 6
Type: Add-on Acquisition M&A Deals 2 of 70
State: Minnesota M&A 1 of 4
Country: United States M&A 3 of 51
Year: 2004 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1996-07-01 Glassbridge

New York, New York, United States

Glassbridge is a provider of data storage and data security. Products include DVDs, CDs, and Blu-ray disc recordable media, as well as USB flash drives, flash cards, and external hard disks; and audio and accessories, such as headphones, speakers, and accessories. GlassBridge was founded in 1996 and is based in New York, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-12 Hornell International

Gagnef, Sweden

Hornell provides personal protective equipment for welders, including Speedglas auto-darkening filters, Adflo respiratory protection devices, and other innovative solutions.

Buy -

Seller(S) 1

SELLER

Gemini Investors

Wellesley, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Gemini Investors is a middle-market private equity firm that targets investments in growing and established businesses. Areas of interest include technology, business services, consumer services, healthcare, education, manufacturing and distribution. Gemini looks for companies with $5 to $50 million in annual revenue and typically makes investments of $3 to $8 million in the form of preferred stock and/or subordinated debt. Prospective transaction types include growth capital, recapitalization and buyout situations. Gemini Investors was formed in 1993 and is based in Wellesley, Massachusetts.


DEAL STATS #
Overall 3 of 54
Sector: Software M&A 1 of 6
Type: Add-on Acquisition M&A Deals 1 of 25
State: Minnesota M&A 1 of 5
Country: United States M&A 3 of 54
Year: 2004 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-12-01 Axcelerant

Redwood Shores, California, United States

Operator of corporate broadband virtual private network related services. (Acquired by iPass)

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-02-01 TAG

Chicago, Illinois, United States

TAG is a multi-vertical retail healthcare support organization. TAG offers a full range of essential business support services to consumer healthcare brands under the Aspen Dental, Chapter Aesthetic Studio, ClearChoice Dental Implant Centers and WellNow Urgent Care trade names. TAG was founded in 1981 and is based in Chicago, Illinois.

Buy $19M