Divestiture • Business Services

NMI Acquires Sphere Commercial Division

On October 12, 2023, NMI acquired business services company Sphere Commercial Division from SphereCommerce

Acquisition Context
  • This is NMI’s 1st transaction in the Business Services sector.
  • This is NMI’s 3rd transaction in the United States.
  • This is NMI’s 1st transaction in Tennessee.

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M&A Deal Summary

Date October 12, 2023
Target Sphere Commercial Division
Sector Business Services
Buyer(s) NMI
Sellers(s) SphereCommerce
Deal Type Divestiture

Target Company

Sphere Commercial Division

Nashville, Tennessee, United States
Sphere's Commercial Division provides underwriting and risk management services.
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Buyer Overview 1

Buyer

NMI

Schaumburg, Illinois, United States

Category Company
Founded 2001
Sector Information Technology
DESCRIPTION

NMI provides payments enablement technology that empowers ISOs, ISVs, VARs and payment facilitators to offer branded payment gateway services without building or maintaining their own technology. NMI enables critical payment functionality to affiliates and merchants with its white-labeled, security-focused, feature-rich, omni-channel platform. NMI was founded in 2001 and is based in Schaumburg, Illinois.


Deal Context for Buyer #
Overall 5 of 5
Sector: Business Services 1 of 1
Type: Divestiture 1 of 1
State: Tennessee 1 of 1
Country: United States 3 of 3
Year: 2023 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-06 Agreement Express

Vancouver, British Columbia, Canada

Agreement Express is a client onboarding automation provider for financial services. The platform allows wealth management and payment companies to deliver a consistent customer application, approval, and onboarding experience across their product offerings & channels. Agreement Express was founded in 2001 and is based in Vancouver, British Columbia.

Buy -

Seller Profile 1

SELLER

SphereCommerce

Melville, New York, United States

Category Company
Founded 2017
Sector Information Technology
DESCRIPTION

SphereCommerce is a provider of software and financial technology company providing integrated solutions that reduce friction and facilitate better and more secure commercial interactions with customers in primarily healthcare and non-profit. SphereCommerce was founded in 2017 and is based in Melville, New York.


Deal Context for Seller #
Overall 1 of 1
Sector: Business Services 1 of 1
Type: Divestiture 1 of 1
State: Tennessee 1 of 1
Country: United States 1 of 1
Year: 2023 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-17 Health iPASS

Oak Brook, Illinois, United States

Health iPASS, Inc. is a provider of cloud-based patient engagement software and revenue cycle management technology. Health iPASS’s solutions enhance provider revenue collections and deliver a streamlined healthcare consumer experience from appointment to final payment. Health iPASS was founded in 2013 and is based in Oak Brook, Illinois.

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