M&A Deal Summary

Francisco Partners Acquires Operative

On April 27, 2016, private equity firm Francisco Partners acquired software company Operative from Riverwood Capital

Acquisition Highlights
  • This is Francisco Partners’ 26th transaction in the Software sector.
  • This is Francisco Partners’ 59th transaction in the United States.
  • This is Francisco Partners’ 6th transaction in New York.

M&A Deal Summary
Date 2016-04-27
Target Operative
Sector Software
Buyer(s) Francisco Partners
Sellers(s) Riverwood Capital
Deal Type Secondary Buyout

Target

Operative

New York, New York, United States
Operative is a provider of software solutions to the media industry. Operative is the preferred business software partner for over 150 of the world’s top media brands. No other software company brings a comparable depth of experience to create truly innovative software that performs across all platforms, revenue models, and business units.

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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 74 of 149
Sector (Software) 26 of 50
Type (Secondary Buyout) 7 of 24
State (New York) 6 of 10
Country (United States) 59 of 124
Year (2016) 3 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-29 Betterment

New York, New York, United States

Betterment is an online wealth management platform. Betterment leverages its proprietary software and vertically-integrated technology platform to help retail investors better manage, protect, and grow their wealth, all at a much lower cost than traditional asset managers. The Company’s algorithms automatically invest a customer’s assets across a portfolio of exchange traded funds (ETFs), rebalances investor portfolios, reinvests dividends, and drives ongoing tax loss harvesting to optimize long-term returns.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-01 QGenda

Atlanta, Georgia, United States

QGenda is a provider of automated healthcare workforce management software. Since its launch in 2006, QGenda has grown to serve more than 1,200 customers in over 30 medical specialties across 5,000 hospitals. The subscription-based automated scheduling software is used by practice groups, hospitals, academic medical centers, and enterprise health systems to build optimal schedules for clinicians and medical staff to provide the best possible care. QGenda was founded in 2006 and is based in Atlanta, Georgia.

Buy -

Seller(S) 1

SELLER

Riverwood Capital

Menlo Park, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2008
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Riverwood Capital is a tech-focused on private equity firm. Riverwood will consider investment opportunities across North and South America and looks for situations where the firm can commit $25 to $125 per transaction. Prospective transaction situations include growth capital financings, carve-outs, consolidations, and buyouts. Specific areas of interest include IT, communications, technology hardware, electronics, software, and digital media. Riverwood Capital was formed in 2008 and is based in Menlo Park, California.

DEAL STATS #
Overall 7 of 24
Sector (Software) 3 of 6
Type (Secondary Buyout) 1 of 3
State (New York) 1 of 2
Country (United States) 5 of 17
Year (2016) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-01 Nubox

Santiago, Chile

Nubox is a provider of cloud-based, next-generation accounting, payroll and e-billing solution for small businesses in Latin America. Its easy-to-use software allows small business owners to effortlessly manage their accounting, send invoices electronically, pay employees, prepare their tax reports, track their cash-flow, and monitor financial growth, through an intuitive, automated online platform. Nubox was founded in 2001 and is based in Santiago, Chile.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-01 Industrious

New York, New York, United States

Industrious LLC is a premium flexible workspace provider in the U.S. with over 65 locations in more than 40 U.S. cities. Its Workplace Experience platform, which pairs thoughtfully-designed spaces with hospitality-driven services and amenities, has reshaped the concept of coworking into a scalable solution for companies of all sizes and stages. Industrious was established in 2013 and is based in New York City.

Buy -
Mergr

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