M&A Deal Summary

Francisco Partners Acquires AdvancedMD

On January 17, 2008, private equity firm Francisco Partners acquired internet software and services company AdvancedMD from Prospector Equity Capital

Acquisition Highlights
  • This is Francisco Partners’ 1st transaction in the Internet Software and Services sector.
  • This is Francisco Partners’ 27th transaction in the United States.
  • This is Francisco Partners’ 1st transaction in Utah.
Investment Fate
  • AdvancedMD was sold to a publicly-traded strategic buyer in 2011.
  • AdvancedMD was sold to a strategic buyer in 2011.
  • AdvancedMD was divested to a consortium of buyers in 2015.
  • AdvancedMD was sold to a publicly-traded strategic buyer in 2018 for 700M USD.
  • AdvancedMD was divested to a consortium of buyers in 2024.

M&A Deal Summary
Date 2008-01-17
Target AdvancedMD
Sector Internet Software and Services
Buyer(s) Francisco Partners
Sellers(s) Prospector Equity Capital
Deal Type Secondary Buyout

Target

AdvancedMD

South Jordan, Utah, United States
AdvancedMD is a provider of cloud-based practice management, electronic health records, and revenue cycle management software solutions to the independent physician practice market. AdvancedMD was founded in 1999 and is based in South Jordan, Utah.

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Buyer(S) 1

Buyer

Francisco Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 45.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Francisco Partners' headquarters in San Francisco, California.
Francisco Partners' headquarters in San Francisco, California.

Francisco Partners is a private equity firm focused exclusively on investments in technology and technology-enabled services. Specific areas of interest include semiconductors, capital equipment, electronics components, systems and manufacturing, IT services and business process outsourcing, communications, security and enterprise applications, and infrastructure software. Prospective investment situations include divisional buyouts, growth equity financings, acquisitions of private companies, sponsored mergers and acquisitions, and take-privates. Francisco Partners looks for opportunities where it can commit a minimum of $100 million per investment. Francisco Partners was formed in 1999 and is based in San Francisco, California.

DEAL STATS #
Overall 32 of 149
Sector (Internet Software and Services) 1 of 28
Type (Secondary Buyout) 2 of 24
State (Utah) 1 of 2
Country (United States) 27 of 124
Year (2008) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-14 MetaSwitch Networks

Enfield, United Kingdom

Metaswitch Networks is a provider of carrier systems and software solutions that are powering the migration of communications networks to open, packet-based architectures. Hundreds of network operators worldwide depend on its Carrier Systems Division for reliable, scalable session control, media gateway and application/feature server solutions to enable compelling revenue-generating services. Its Network Protocols Division develops high performance, portable software components that are integrated into the products of the world's leading communications equipment manufacturers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-05 FX Solutions

Saddle River, New Jersey, United States

FX Solutions LLC provides an Internet-based foreign exchange trading platform which allows retail customers to trade foreign currencies.

Sell -

Seller(S) 1

SELLER

Prospector Equity Capital

Park City, Utah, United States
Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Prospector Equity Capital is a private equity firm that targets smaller, middle-market company investments in the Western US. The Firm has a particular interest in opportunities located in Utah, Wyoming, Idaho, Arizona, and California. Prospector is a generalist investor with interest in a broad range of industries including technology, healthcare, software, communications, and manufacturing. The Firm's target investment size is $500,000 to $4 million in businesses at or near profitability. Prospector Equity Capital was formed in 2002 and is based in Park City, Utah.

DEAL STATS #
Overall 1 of 4
Sector (Internet Software and Services) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Utah) 1 of 3
Country (United States) 1 of 4
Year (2008) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 Media Forum

Salt Lake City, Utah, United States

Media Forum, Inc. (dba MediaForge) is a display advertising and retargeting company that bases its business model on Consumer Engagement, aligning its goals with advertisers’ goals by using a metric that measurably increases site conversions.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-04-22 NetVision

American Fork, Utah, United States

NetVision Inc. provides software that increases network security and reduces the cost of managing network directories.

Buy -
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