M&A Deal Summary

CIBC Acquires XtraCash

On April 2, 2001, CIBC acquired financial services company XtraCash from JMI Equity

Acquisition Highlights
  • This is CIBC’s 1st transaction in the Financial Services sector.
  • This is CIBC’s 1st transaction in the United States.
  • This is CIBC’s 1st transaction in New Jersey.

M&A Deal Summary

Date 2001-04-02
Target XtraCash
Sector Financial Services
Buyer(s) CIBC
Sellers(s) JMI Equity
Deal Type Add-on Acquisition

Target

XtraCash

Stewartsville, New Jersey, United States
XtraCash, Inc. is a provider of ATM services for all types of retailers and financial institutions. Company also provides payment and transaction processing services.

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Buyer(S) 1

Buyer

CIBC

Toronto, Ontario, Canada

Category Company
Founded 1867
Sector Financial Services
Employees48,047
Revenue 25.5B CAD (2024)
DESCRIPTION

Canadian Imperial Bank of Commerce (CIBC) is a Canadian-based global financial institution serving personal banking and business clients. Through its three major business units - Retail and Business Banking, Wealth Management and Capital Markets, CIBC offers a full range of products and services through its global banking network, branches and offices. Canadian Imperial Bank of Commerce was founded in 1867 and is based in Toronto, Ontario.


DEAL STATS #
Overall 1 of 4
Sector: Financial Services M&A 1 of 3
Type: Add-on Acquisition M&A Deals 1 of 2
State: New Jersey M&A 1 of 1
Country: United States M&A 1 of 3
Year: 2001 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-04 Pulmonx

Redwood City, California, United States

Pulmonx is a medical technology company that provides devices for minimally invasive treatment of patients with Chronic Obstructive Pulmonary Disease (COPD). Pulmonx was founded in 1995 and is based in Redwood City, California.

Buy -

Seller(S) 1

SELLER

JMI Equity

La Jolla, California, United States

Investor Investor Investor Investor Investor


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 $25 million per transaction. JMI Equity was formed in 1992 and maintains offices in San Diego and Baltimore.


DEAL STATS #
Overall 12 of 107
Sector: Financial Services M&A 3 of 3
Type: Add-on Acquisition M&A Deals 8 of 68
State: New Jersey M&A 2 of 4
Country: United States M&A 12 of 95
Year: 2001 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-03-05 Astrum Software

Boston, Massachusetts, United States

Astrum delivers client-to-storage management solutions for Windows 2000/NT/9X based systems, storage area networks and network attached storage. Astrum’s product suite, StorCast, enables customers to proactively manage explosive storage growth, ensuring accessibility and availability to an organization’s most critical assets—data and IT infrastructure.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-08-14 Micro Focus

Newbury, United Kingdom

Micro Focus is a provider of innovative software that allows companies to dramatically improve the business value of their enterprise applications. Micro Focus Enterprise Application Modernization, Testing and Management software enables customers’ business applications to respond rapidly to market changes and embrace modern architectures with reduced cost and risk. Micro Focus was founded in 1976 and is based in Newbury, the United Kingdom.

Buy -