M&A Deal Summary

OceanSound Partners and TA Associates Acquire Kinective

On June 6, 2023, private equity firms OceanSound Partners and TA Associates acquired software company Kinective

Acquisition Highlights
  • This is OceanSound Partners’ 1st and TA Associates’ 83rd transaction in the Software sector.
  • This is OceanSound Partners’ 8th and TA Associates’ 261st transaction in the United States.
  • This is OceanSound Partners’ 2nd and TA Associates’ 1st transaction in Arizona.

M&A Deal Summary

Date 2023-06-06
Target Kinective
Sector Software
Buyer(s) OceanSound Partners
TA Associates
Deal Type Buyout (LBO, MBO, MBI)

Target

Kinective

Gilbert, Arizona, United States
Kinective is a developer of middleware and application software solutions for the retail banking end-market, serving nearly 2,500 banks and federal credit unions. Kinective is based in Gilbert, Arizona.

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Buyer(S) 2

Buyer

OceanSound Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2018
PE ASSETS 4.5B USD
Size Large
Type Sector Focused
DESCRIPTION

OceanSound Partners is a private equity firm that makes control investments in technology and technology-enabled services companies serving government and enterprise end markets. The Firm seeks situations where it can be a hands-on investor, helping partner companies with its experience in supporting growth initiatives. OceanSound Partners was formed in 2018 and is based in New York, New York.


DEAL STATS #
Overall 8 of 12
Sector: Software M&A 1 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 3
State: Arizona M&A 2 of 2
Country: United States M&A 8 of 12
Year: 2023 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-06 CFM

Tempe, Arizona, United States

CFM is a provider of connectivity, workflow, and analytics software solutions for over 2,500 banks and credit unions in North America. The company helps financial institutions create modern banking experiences, reduce operating costs, improve in-branch productivity, and achieve their IT modernization goals. CFM was formed in 2006 and is based in Tempe, Arizona.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-11 Convey

Denver, Colorado, United States

Convey is a provider of customer engagement software for electric utilities and other highly regulated industry sectors. Convey's software solutions drive increased customer satisfaction, operational efficiency, self-service, and conversion across several communication channels and critical use cases, including power outages, payments, and energy efficiency. Convey was founded in 1998 and is based in Denver, Colorado.

Buy -
Buyer

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 355 of 374
Sector: Software M&A 83 of 89
Type: Buyout (LBO, MBO, MBI) M&A Deals 73 of 75
State: Arizona M&A 1 of 1
Country: United States M&A 261 of 270
Year: 2023 M&A 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-26 Diatech Pharmacogenetics

Jesi, Italy

Diatech Pharmacogenetics is a producer and distributor of reagents and comprehensive solutions in pharmacogenetics and pharmacogenomics. The company provides customized genomics testing solutions in the oncological disease niche, aimed at optimising cancer treatment effectiveness through increased diagnosis precision. Diatech Pharmacogenetics was founded in 1998 and is based in Jesi, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-05 Towne Park

Plymouth Meeting, Pennsylvania, United States

Towne Park is a provider of contracted hospitality services and parking systems nationwide. Towne Park was founded in 1988 and is based in Plymouth Meeting, Pennsylvania.

Sell -