M&A Deal Summary

Metavante Acquires MBI Benefits

On May 10, 2005, Metavante acquired information technology company MBI Benefits from Wind Point Partners for 145M USD

Acquisition Highlights
  • This is Metavante’s 1st transaction in the Information Technology sector.
  • This is Metavante’s largest (disclosed) transaction.
  • This is Metavante’s 3rd transaction in the United States.
  • This is Metavante’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2005-05-10
Target MBI Benefits
Sector Information Technology
Buyer(s) Metavante
Sellers(s) Wind Point Partners
Deal Type Add-on Acquisition
Deal Value 145M USD
Advisor(s) Lane, Berry & Co. International LLC (Financial)

Target

MBI Benefits

Waltham, Massachusetts, United States
MBI Benefits, Inc. is a provider of electronic payment services for employee benefit and consumer-directed health care (CDHC) accounts. MBI Benefits Card allows employees to pay for eligible expenses at pharmacies, physician offices, vision service facilities and other healthcare businesses using funds from Flexible Spending Accounts, Health Savings Accounts and Health Reimbursement Arrangements (HRAs).

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Buyer(S) 1

Buyer

Metavante

Milwaukee, Wisconsin, United States

Category Company
Founded 1964
Sector Information Technology
DESCRIPTION

Metavante Corp. is a financial services technology company providing integrated banking and payments products and services to banks, retailers, healthcare providers and government entities. Metavante provides core processing technology to run bank operations including account processing for deposit, loan and trust systems, e-banking, risk and compliance and commercial treasury.


DEAL STATS #
Overall 3 of 5
Sector (Information Technology) 1 of 2
Type (Add-on Acquisition) 3 of 4
State (Massachusetts) 1 of 1
Country (United States) 3 of 5
Year (2005) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-29 Prime Associates

Clark, New Jersey, United States

Prime Associates, Inc. is a international provider of software, data and services that address the regulatory and compliance mandate of financial institutions. Prime Associates's Compliance Manager™ provides a complete suite of state-of-the-art solutions for Anti Money Laundering, FAC and Sanctioned Parties, Enhanced Due Diligence, Bank Secrecy Act and other regulations to the financial community.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-22 AdminiSource

Carrollton, Texas, United States

AdminiSource, located in Carrollton, Texas, is a technology company that has clients in 30 states across the nation. Formed in 1997, AdminiSource continues to provide customized payment distribution services, both print/mail and electronic, along with other applications including: ID cards, billing statements, correspondence and fulfillment services. All services are Web-enabled, with secure access ensuring client data and information is protected. AdminiSource currently produces 300,000 - 400,000 transactions daily for over 120 client locations nationwide.

Buy -

Seller(S) 1

SELLER

Wind Point Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Wind Point Partners is a private equity firm focused on acquisitions of mid-sized companies operating in the business services, consumer products, healthcare services, and industrial products sectors. Wind Point looks to invest $60 to $130 million in companies valued up to $500 million. Prospective transaction types include leveraged buyouts, recapitalizations, industry consolidations, and growth capital financings. Wind Point Partners began investing in 1984 and is based in Chicago.


DEAL STATS #
Overall 7 of 56
Sector (Information Technology) 2 of 2
Type (Add-on Acquisition) 5 of 26
State (Massachusetts) 1 of 2
Country (United States) 7 of 51
Year (2005) 1 of 3
Size (of disclosed) 11 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-08 Waterbury Companies

Waterbury, Connecticut, United States

Waterbury Companies, Inc. is a manufacturing and marketing of consumer and commercial products primarily for janitorial, office supply, food service, professional use, agriculture, packaging, and consumer markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-07-28 LDMI Telecommunications

Southfield, Michigan, United States

LDMI Telecommunications, Inc. is an integrated communications provider serving small and mid-sized businesses in the Great Lakes region. Its services include local and long distance phone service, high speed sDSL Internet connectivity and enhanced products such as conference calling and voice mail.

Sell -