M&A Deal Summary

Kennet Partners and JMI Equity Acquire NetPro Computing

On August 16, 2004, growth capital firm Kennet Partners and private equity firm JMI Equity acquired software company NetPro Computing

Acquisition Highlights
  • This is Kennet Partners’ 2nd and JMI Equity’s 16th transaction in the Software sector.
  • This is Kennet Partners’ 2nd and JMI Equity’s 19th transaction in the United States.
  • This is Kennet Partners’ 1st and JMI Equity’s 1st transaction in Arizona.
Investment Fate
  • NetPro Computing was sold to a publicly-traded strategic buyer in 2008 for 79M USD.

M&A Deal Summary

Date 2004-08-16
Target NetPro Computing
Sector Software
Buyer(s) Kennet Partners
JMI Equity
Deal Type Buyout (LBO, MBO, MBI)

Target

NetPro Computing

Phoenix, Arizona, United States
NetPro Computing, Inc. is a provider of infrastructure optimization software products.

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Buyer(S) 2

Buyer

Kennet Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1997
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Kennet Partners is a private investment firm that invests in fast-growing companies providing information technology products and technology-enabled services. Kennet typically commits $10 to $50 million of equity per transaction in companies with revenues up to $50 million. The Firm generally invests in businesses located in Western Europe and the US. In addition to providing growth capital, Kennet also finances private mergers, shareholder liquidity needs, corporate divestitures or spin-outs, and restructuring situations. Kennet Partners was formed in 1997 and is based in London.


DEAL STATS #
Overall 7 of 42
Sector: Software M&A 2 of 15
Type: Buyout (LBO, MBO, MBI) M&A Deals 3 of 9
State: Arizona M&A 1 of 1
Country: United States M&A 2 of 19
Year: 2004 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-05-01 Ubizen Aethis SA

Louvain-la-Neuve, Belgium

Ubizen is a provider of managed security services to Fortune 500 companies.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-01 Kapow Technologies

Palo Alto, California, United States

Kapow Technologies provides an on-demand application ‘mashup’ platform that powers enterprise solutions in reputation management, competitive intelligence, and content integration and migration at a fraction of the cost of traditional methods. Kapow has more than 300 clients such as AT&T, Bank of America, Wells Fargo, CSFB, Intel, Vodafone, Audi, DHL and SimplyHired.

Buy -
Buyer

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 21 of 130
Sector: Software M&A 16 of 55
Type: Buyout (LBO, MBO, MBI) M&A Deals 8 of 23
State: Arizona M&A 1 of 3
Country: United States M&A 19 of 114
Year: 2004 M&A 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-22 Blackbaud

Charleston, South Carolina, United States

Blackbaud is a provider of nonprofit software and services. Blackbaud offers a full spectrum of cloud-based and on-premise software solutions and related services for organizations of all sizes including: fundraising, eMarketing, advocacy, constituent relationship management (CRM), financial management, payment solutions, analytics, education solutions, and vertical-specific solutions. Blackbaud was incorporated in 1981 and is based in Charleston, South Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-01 Courion

Westborough, Massachusetts, United States

Courion Corp. is a provider of identity governance and administration solutions to manage access risk and maintain compliance.

Buy -