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M&A Deal Summary

Hyland Acquires Nuxeo

On March 4, 2021, Hyland acquired software company Nuxeo from Goldman Sachs Merchant Banking and Kennet Partners

Acquisition Highlights
  • This is Hyland’s 9th transaction in the Software sector.
  • This is Hyland’s 15th transaction in the United States.
  • This is Hyland’s 2nd transaction in New York.

M&A Deal Summary
Date 2021-03-04
Target Nuxeo
Sector Software
Buyer(s) Hyland
Sellers(s) Goldman Sachs Merchant Banking
Kennet Partners
Deal Type Add-on Acquisition

Target

Nuxeo

Brooklyn, New York, United States
Nuxeo provides an extensible and modular Enterprise Content Management Platform enabling architects and developers to easily build and run business applications. The Nuxeo Platform offers modern technologies, a powerful plug-in model and extensive packaging capabilities for Document Management, Digital Asset Management and Case Management applications. Over 1,000 organizations rely on Nuxeo to run business-critical applications, including TBWA, Electronic Arts, Verizon, Sharp, Capital One, and the U.S. Navy.

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Buyer(S) 1

Buyer

Hyland

Westlake, Ohio, United States
Category Company
Founded 1991
Sector Software
DESCRIPTION

Hyland is a developer and marketer of enterprise content management (ECM) software. The company's OnBase enterprise content management solution is deployable at both the departmental and enterprise levels and provides organizations with unique, modular solutions that help them streamline their work processes and share information among their employees, business partners, and customers. Hyland was founded in 1991 and is based in Cleveland, Ohio.

DEAL STATS #
Overall 16 of 16
Sector: Software M&A 9 of 9
Type: Add-on Acquisition M&A Deals 12 of 12
State: New York M&A 2 of 2
Country: United States M&A 15 of 15
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-09 Alfresco Software

Wellesley, Massachusetts, United States

Alfresco Software, Inc. is an enterprise open-source software company focused on making business flow quickly, seamlessly, and intelligently, by driving the convergence of enterprise content management and business process management. Alfresco Software was founded in 2005 and is based in Wellesley, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-21 LawLogix

Phoenix, Arizona, United States

LawLogix is a provider of software as a service (“SaaS”) solutions and data migration services to law firms, employers, and non-profit organizations. The Company provides immigration case management, electronic I-9 compliance, and E-Verify solutions with a focus on engineering excellence, stellar customer service and support, and thorough legal analysis. LawLogix is based in 2000 and is based in Phoenix, Arizona.

Sell -

Seller(S) 2

SELLER

Goldman Sachs Merchant Banking

New York, New York, United States

Investor

Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.

DEAL STATS #
Overall 95 of 126
Sector: Software M&A 7 of 11
Type: Add-on Acquisition M&A Deals 31 of 43
State: New York M&A 10 of 12
Country: United States M&A 68 of 90
Year: 2021 M&A 2 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-06 Equa bank

Praha, Czech Republic

Equa bank offers simple, comprehensible, and transparent banking services for retail and business customers. Products include current and savings accounts with free maintenance, multi-currency debit cards, mortgages, term deposits, consumer loans, insurance, and business loans. Equa bank is based in Praha, Czech Republic.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-09 Oikos Group

Protaras, Cyprus

OIKOS GROUP is a Real Estate- Developing company dedicated to Exclusive Beachfront Properties. Oikos Group has been carrying out everything promised with ethos and dignity. Oikos Group with the experience of more than 50 projects for the last 10 years, continues to rise by creating unique projects for unique people in Prime Locations. Oikos Group is based in Protaras, Cyprus.

Buy -
SELLER

Kennet Partners

London, United Kingdom

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1997
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Kennet Partners is a private investment firm that invests in fast-growing companies providing information technology products and technology-enabled services. Kennet typically commits $10 to $50 million of equity per transaction in companies with revenues up to $50 million. The Firm generally invests in businesses located in Western Europe and the US. In addition to providing growth capital, Kennet also finances private mergers, shareholder liquidity needs, corporate divestitures or spin-outs, and restructuring situations. Kennet Partners was formed in 1997 and is based in London.

DEAL STATS #
Overall 37 of 41
Sector: Software M&A 16 of 17
Type: Add-on Acquisition M&A Deals 30 of 32
State: New York M&A 2 of 2
Country: United States M&A 13 of 15
Year: 2021 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-02 Rimilia Holdings

Worcs, United Kingdom

Rimilia Holdings Ltd. is a designer and developer of cash allocation software solutions and technologies that automate and drive value from existing manually intensive finance processes. Rimilia was founded in 2008 and is based in Worcs, United Kingdom.

Sell $150M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-26 nudge Global

London, United Kingdom

nudge Global provides a SaaS platform focused on enhancing the financial wellbeing of individuals. Nudge is addressing a rapidly growing demand for wellbeing solutions as employee wellbeing becomes a higher priority for organizations due to the increased pressures of working from home, the uncertain macroeconomic environment, and strains on many employees. nudge Global was founded in 2013 and is based in London, United Kingdom.

Buy -
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