Add-on Acquisition • Internet Software and Services

Q2 Holdings Acquires PrecisionLender

On October 1, 2019, Q2 Holdings acquired internet software and services company PrecisionLender for 510M USD

Acquisition Context

This is Q2 Holdings’ 3rd transaction in the Internet Software and Services sector.
This is Q2 Holdings’ largest (disclosed) transaction.
This is Q2 Holdings’ 4th transaction in the United States.
This is Q2 Holdings’ 1st transaction in North Carolina.

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M&A Deal Summary
Date	October 1, 2019
Target	PrecisionLender
Sector	Internet Software and Services
Buyer(s)	Q2 Holdings
Deal Type	Add-on Acquisition
Deal Value	510M USD
Advisor(s)	William Blair (Financial) Cozen O'Connor (Legal)

Target Company

PrecisionLender

Charlotte, North Carolina, United States

Lender Performance Group LLC is a SaaS provider of data-driven sales enablement, pricing and portfolio management solutions for financial institutions (FIs) globally. Lender Performance Group is based in Charlotte, North Carolina.

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Buyer Overview 1

Buyer

Q2 Holdings

Austin, Texas, United States

Category	Company
Founded	2004
Sector	Software
Employees	2,476
Revenue	696M USD (2024)

DESCRIPTION

Q2 Holdings is a provider of secure cloud-based virtual banking software solutions. Q2 Holdings was founded in 2004 and is based in Austin, Texas.

Deal Context for Buyer	#
Overall	4 of 6
Sector: Internet Software and Services	3 of 3
Type: Add-on Acquisition	4 of 6
State: North Carolina	1 of 1
Country: United States	4 of 5
Year: 2019	1 of 1
Size (of disclosed)	1 of 3

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2018-08-08	Cloud Lending San Mateo, California, United States Cloud Lending, Inc. is a cloud-based lending and leasing platform of choice for leading lenders. The end-to-end lending platform simplifies the borrower experience, increases application volumes, accelerates loan decisioning, and reduces operational inefficiencies through digitization and automation. Cloud Lending, Inc. was founded in 2014 and is based in San Mateo, California.	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

2018-08-08

Cloud Lending

San Mateo, California, United States

Cloud Lending, Inc. is a cloud-based lending and leasing platform of choice for leading lenders. The end-to-end lending platform simplifies the borrower experience, increases application volumes, accelerates loan decisioning, and reduces operational inefficiencies through digitization and automation. Cloud Lending, Inc. was founded in 2014 and is based in San Mateo, California.

Buy

FOLLOWING DEAL

DATE	TARGET	DEAL TYPE	VALUE
2021-04-01	ClickSWITCH Minneapolis, Minnesota, United States ClickSWITCH is a digital account switching solution for financial institutions and challenger banks that simplifies the process of bringing new account holders onboard by quickly, safely, and efficiently switching direct deposits and automatic payments to new accounts. The company enables financial institutions to make switching easy, capture more deposits, rapidly and consistently gain PFI status, and increase profitability. ClickSWITCH was formed in 2014 and is based in Minneapolis, Minnesota.	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

2021-04-01

ClickSWITCH

Minneapolis, Minnesota, United States

ClickSWITCH is a digital account switching solution for financial institutions and challenger banks that simplifies the process of bringing new account holders onboard by quickly, safely, and efficiently switching direct deposits and automatic payments to new accounts. The company enables financial institutions to make switching easy, capture more deposits, rapidly and consistently gain PFI status, and increase profitability. ClickSWITCH was formed in 2014 and is based in Minneapolis, Minnesota.

Buy

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