M&A Deal Summary

Francisco Partners and Accel-KKR Acquire Vendavo

On October 1, 2014, private equity firms Francisco Partners and Accel-KKR acquired software company Vendavo

Acquisition Highlights
  • This is Francisco Partners’ 21st and Accel-KKR’s 15th transaction in the Software sector.
  • This is Francisco Partners’ 52nd and Accel-KKR’s 28th transaction in the United States.
  • This is Francisco Partners’ 1st and Accel-KKR’s 4th transaction in Colorado.

M&A Deal Summary

Date 2014-10-01
Target Vendavo
Sector Software
Buyer(s) Francisco Partners
Accel-KKR
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) William Blair
Spurrier Capital Partners (Financial)

Target

Vendavo

Denver, Colorado, United States
Vendavo provides flexible software solutions that assist manufacturers and distributors with managing, pricing and structuring contractual relationships. Vendavo Advantage is a complete, enterprise-class solution combining all aspects of deal pricing, negotiating, analysis and monitoring. Vendavo was founded in 1998 and is based in Denver, Colorado.

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Buyer(S) 2

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 65 of 160
Sector: Software M&A 21 of 53
Type: Buyout (LBO, MBO, MBI) M&A Deals 21 of 28
State: Colorado M&A 1 of 1
Country: United States M&A 52 of 134
Year: 2014 M&A 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-01 Zego

San Diego, California, United States

Zego is a payments technology and resident engagement platform for the residential real estate industry that unifies critical resident touchpoints into one app. The Company’s mobile-first platform delivers portfolio-wide efficiency, higher NOI and more engaged residents by seamlessly integrating payment, billing and utility expense management capabilities with a proprietary resident engagement and communication portal. Zego also provides smart home device functionality. Zego serves 6,000 residential real estate companies and over 12 million units nationwide. Zego was founded in 2003 and is based in San Diego, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-11 CoverMyMeds

Twinsburg, Ohio, United States

CoverMyMeds LLC is a provider of software suite which automates the medication prior authorization process for more than 500 electronic health records (EHR) systems, 47,000 pharmacies, 700,000 providers and most health plans and PBMs. By ensuring appropriate access to medications, the company helps its customers avoid billions of dollars each year in administrative waste and avoidable medical spending caused by prescription abandonment.

Buy -
Buyer

Accel-KKR

Menlo Park, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 19.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Accel-KKR is a private equity firm that seeks control and growth-oriented investments in middle-market technology companies. The Firm targets investments in public and private companies with revenues ranging from $15 to $150 million. Accel-KKR pursues transactions across multiple segments of the technology industry, including software, hardware and internet technologies, and IT enabled services. Accel-KKR's first fund was created in 2000 by Accel Partners and Kohlberg Kravis Roberts & Co. to invest in technology assets and businesses that were outside of each firm's core focus. Accel-KKR is based in Menlo Park, California.


DEAL STATS #
Overall 32 of 123
Sector: Software M&A 15 of 55
Type: Buyout (LBO, MBO, MBI) M&A Deals 14 of 33
State: Colorado M&A 4 of 6
Country: United States M&A 28 of 86
Year: 2014 M&A 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-25 PrismHR

Hopkinton, Massachusetts, United States

PrismHR provides software and services, empowering human resource outsourcing service providers such as Professional Employer Organizations (PEOs) and Administrative Service Organizations (ASOs) to deliver world-class HR, benefits, and payroll to small and medium-sized businesses. PrismHR was founded in 1985 and is based in Hopkinton, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-08 Optimizely

New York City, New York, United States

Optimizely provides an integrated digital experience platform (DXP) with tools for website optimization, content management, e-commerce, A/B testing, and personalization. Optimizely was founded in 1994 and is based in New York City, New York.

Buy -