Going Private • Information Technology

Nordic Capital, Insight Partners and 22C Capital Acquire Inovalon

On August 19, 2021, private equity firm Nordic Capital, venture capital firm Insight Partners and private equity firm 22C Capital acquired information technology company Inovalon for 7.3B USD

Acquisition Context
  • This is Nordic Capital’s 8th, Insight Partners’ 17th and 22C Capital’s 2nd transaction in the Information Technology sector.
  • This is Nordic Capital’s , Insight Partners’ and 22C Capital’s largest (disclosed) transaction.
  • This is Nordic Capital’s 11th, Insight Partners’ 69th and 22C Capital’s 3rd transaction in the United States.
  • This is Nordic Capital’s 1st, Insight Partners’ 1st and 22C Capital’s 1st transaction in Maryland.

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M&A Deal Summary

Date August 19, 2021
Target Inovalon
Sector Information Technology
Buyer(s) Nordic Capital
Insight Partners
22C Capital
Deal Type Going Private
Deal Value 7.3B USD
Advisor(s) J.P. Morgan Securities (Financial)
Latham & Watkins (Legal)

Target Company

Inovalon

Bowie, Maryland, United States
Inovalon is a provider of cloud-based platforms empowering data-driven healthcare. Through the Inovalon ONE Platform, the company brings to the marketplace a national-scale capability to interconnect with the healthcare ecosystem, aggregate and analyze data in real-time, and empower the application of resulting insights to drive meaningful impact at the point of care. Inovalon was founded in 1998 and is based in Bowie, Maryland.
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Buyers Overview 3

Buyer

Nordic Capital

Stockholm, Sweden

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 31.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Nordic Capital is a private equity investment firm that targets mid to large-sized company investments located in Northern Europe as well as the US. Nordic seeks investments across a wide range of industries and prefers situations where there are 'opportunities for new industrial combinations, strategic repositioning, international expansion and operational improvements'. Nordic Capital was formed in 1989 and is based in Stockholm, Sweden.


Deal Context for Buyer #
Overall 119 of 142
Sector: Information Technology 8 of 11
Type: Going Private 6 of 8
State: Maryland 1 of 1
Country: United States 11 of 16
Year: 2021 9 of 10
Size (of disclosed) 1 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-26 Equipe Zorgbedrijven

Eindhoven, Netherlands

Equipe Zorgbedrijven is an independent group of specialised clinics. The group provides outpatient healthcare in the Netherlands active in hand and wrist surgery & therapy and aesthetic care, with a growing presence in orthopaedics, ophthalmology & general surgery. Equipe Zorgbedrijven was founded in 1995 and is based in Eindhoven, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-13 Qred

Stockholm, Sweden

Qred is a provider of financing and payment services to small businesses in the Nordics and the Netherlands, with its fully automated credit system, digital platform, and easy, innovative solutions for entrepreneurs seeking financing. Qred was founded in 2015 and is headquartered in Stockholm, Sweden.

Buy -
Buyer

Insight Partners

Investor Investor Investor Investor Investor


Category Venture Capital Firm
Founded 1995
PE ASSETS 90.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Insight Partners is a growth capital investment firm focused on early to later stage investments principally in the software sector. Insight Partners was formed in 1995 and is based in New York, New York.


Deal Context for Buyer #
Overall 83 of 99
Sector: Information Technology 17 of 18
Type: Going Private 6 of 8
State: Maryland 1 of 1
Country: United States 69 of 79
Year: 2021 4 of 6
Size (of disclosed) 1 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-04 EveryAction

Washington, District of Columbia, United States

EveryAction is a provider of Digital, Fundraising, and Organizing SaaS tools to nonprofits and progressive campaigns. EveryAction clients raise billions of dollars, send billions of emails, and recruit millions of supporters. Built and supported by nonprofit experts, EveryAction's tools allow nonprofits of all sizes to optimize interactions with supporters and prospects, leading to the best outcomes. EveryAction is based in Washington, District of Columbia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-23 Nexus Cognitive Solutions

Addison, Texas, United States

Nexus Cognitive Solutions is an AI, data analytics, and software-development services firm focused on digital-maturity. Nexus Cognitive Solutions is based in Addison, Texas.

Buy -
DESCRIPTION

22C Capital is a private investment firm focused on opportunities in the business services, healthcare, and financial services sectors. 22C is a hands-on investor and will consider companies throughout the US. 22C Capital was formed in 2017 and is headquartered in New York City.


Deal Context for Buyer #
Overall 3 of 4
Sector: Information Technology 2 of 2
Type: Going Private 1 of 1
State: Maryland 1 of 1
Country: United States 3 of 4
Year: 2021 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-26 Accuity Delivery Systems

Mount Laurel, New Jersey, United States

Accuity Delivery Systems is a revenue cycle management business that provides clinical documentation improvement, coding and quality assurance and provider education services to its hospital clients. Accuity Delivery Systems is based in Mount Laurel, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-15 Definitive Healthcare

Framingham, Massachusetts, United States

Definitive Healthcare is a provider of data and intelligence on hospitals, physicians, and other healthcare providers. Definitive Healthcare was founded in 2011 and is based in Framingham, Massachusetts.

Sell -