Venture • Software

JMI Equity and Updata Partners Invest In Harmony Information Systems

On December 22, 2006, private equity firm JMI Equity and growth capital firm Updata Partners invested in software company Harmony Information Systems

Investment Context
  • This is JMI Equity’s 25th and Updata Partners’ 10th transaction in the Software sector.
  • This is JMI Equity’s 36th and Updata Partners’ 21st transaction in the United States.
  • This is JMI Equity’s 3rd and Updata Partners’ 5th transaction in Virginia.
Investment Fate
  • Harmony Information Systems was sold to a strategic buyer in 2014.

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Investment Summary

Date December 22, 2006
Target Harmony Information Systems
Sector Software
Investor(s) JMI Equity
Updata Partners
Deal Type Venture

Target Company

Harmony Information Systems

Reston, Virginia, United States
Harmony Information Systems Inc. is a provider of Web-based, business process and case management software solutions for the human services industry. HarmonyIS developed and markets Harmony, a Web-based, enterprise framework suite of software applications for information management in the human services field.
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Investors Overview 2

Investor

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 Context for Investor #
Overall 40 of 130
Sector: Software 25 of 55
Type: Venture 13 of 29
State: Virginia 3 of 9
Country: United States 36 of 114
Year: 2006 11 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-05 ServiceNow

Santa Clara, California, United States

ServiceNow is a provider of service management software that automates and manages enterprise service relationships. ServiceNow was formed in 2004 and is based in Santa Clara, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-10 Nimsoft

Campbell, California, United States

Nimsoft is a provider of IT performance and availability monitoring solutions. Nimsoft is the premier provider of business-focused service level management solutions that customers can easily deploy and use.

Buy -
Investor

Updata Partners

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1998
PE ASSETS 1.5B USD
Size Large
Type Sector Focused
DESCRIPTION

Updata Partners is the investment affiliate of Updata Advisors, an East Coast US based investment bank. Updata Partners looks to invest in growth oriented information technology businesses from early-stage to buyout, with revenues up to $50 million. Updata Partners typically invests between $15 and $150 million as a lead or co-lead investor. Within information technology, Updata has specific interest in; infrastructure software, physical and digital security, storage software, educational software, internet and interactive technology, media and wireless infrastructure and services, financial technology software, retail technology, business intelligence, subscription-based and on-demand information services, and business services. Updata Partners was formed in 1998 and is based in Washington DC.


Deal Context for Investor #
Overall 21 of 68
Sector: Software 10 of 33
Type: Venture 14 of 43
State: Virginia 5 of 8
Country: United States 21 of 58
Year: 2006 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-12 CMWare

Plainsboro, New Jersey, United States

CMWare, Inc. develops world class technology and services that provide individuals with remote access to content, media and applications residing on their PCs for entertainment and business purposes. CMWare's PC place-shifting solutions create value-added data services revenue streams and enhance subscriber loyalty for mobile carriers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-01 Secure Software

McLean,, Virginia, United States

Secure Software provides application-security products and process technology that help organizations cost-effectively eliminate security flaws at the source - insecure software code - in legacy, acquired, and new-start applications

Sell -