Investment Summary

Summit Partners, Adams Street Partners and Sorenson Capital Invest In Visier

On May 30, 2013, growth capital firm Summit Partners, asset manager Adams Street Partners and private equity firm Sorenson Capital invested in internet software and services company Visier

Investment Highlights
  • This is Summit Partners’ 18th, Adams Street Partners’ 16th and Sorenson Capital’s 5th transaction in the Internet Software and Services sector.
  • This is Summit Partners’ 3rd, Adams Street Partners’ 2nd and Sorenson Capital’s 1st transaction in Canada.
  • This is Summit Partners’ 1st, Adams Street Partners’ 1st and Sorenson Capital’s 1st transaction in British Columbia.

Investment Summary

Date 2013-05-30
Target Visier
Sector Internet Software and Services
Investor(s) Summit Partners
Adams Street Partners
Sorenson Capital
Deal Type Venture

Target

Visier

Vancouver, British Columbia, Canada
Visier is a provider of SaaS-based business intelligence applications focused on workforce analytics for HR departments. Visier’s solutions are preconfigured to provide intuitive, highly visual, and interactive content out of the box. Visier was founded in 2010 and is based in Vancouver, British Columbia.

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Investor(S) 3

Investor

Summit Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1984
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Summit Partners is a private investment and asset management firm focused on venture, growth, credit, and public equity investing. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 254 of 392
Sector: Internet Software and Services M&A 18 of 47
Type: Venture M&A Deals 16 of 34
State: British Columbia M&A 1 of 1
Country: Canada M&A 3 of 6
Year: 2013 M&A 6 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-30 Ruffalo Noel Levitz

Cedar Rapids, Iowa, United States

Ruffalo Noel Levitz is a provider of fundraising, membership and enrollment management services and software for institutions of higher education and high-affinity nonprofit organizations. Ruffalo Noel Levitz was founded in 1991 and is based in Cedar Rapids, Iowa.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-04 Peak Well Systems Pty

Perth, Australia

Peak Well Systems Pty Ltd. is a provider of downhole well intervention technology to the global oil & gas industry. The company’s advanced tools extend well life, restore well integrity and enhance well performance.

Buy -
Investor

Adams Street Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1972
PE ASSETS 60.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Adams Street Partners is a diversified, global investment firm that targets direct, fund of funds, and secondary investments. Adams' direct investing group covers co-investments in buyout transactions, as well as growth equity and venture capital commitments. The direct buyout and growth equity team looks to commit $5 to $30 million per transaction. For venture related investments, commitments of $5 to $20 million are provided to companies in the technology, life sciences and technology enabled services sectors. Typically, target companies have received prior financing from early stage venture firms and are seeking additional capital to fund product development and commercialization. Adams Street Partners was formed in 1972 and is based in Chicago, Illinois.


DEAL STATS #
Overall 89 of 152
Sector: Internet Software and Services M&A 16 of 32
Type: Venture M&A Deals 61 of 102
State: British Columbia M&A 1 of 2
Country: Canada M&A 2 of 4
Year: 2013 M&A 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-15 Atlantis Computing

Mountain View, California, United States

Atlantis Computing, Inc. is a provider of software complements virtualization solutions from Citrix, Microsoft and VMware to optimize the use of data center storage by virtualized desktops and servers, automate large scale deployment and management, and lower implementation risks.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-18 OncoMed Pharmaceuticals

Redwood City, California, United States

OncoMed Pharmaceuticals, Inc. is a clinical-stage company that discovers and develops novel therapeutics targeting cancer stem cells, the cells believed to be capable of driving tumor growth, recurrence and metastases. OncoMed Pharmaceuticals, Inc. was founded in 2004 and is based in Redwood City, California.

Sell -
Investor

Sorenson Capital

Lehi, Utah, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Sorenson Capital is a private equity firm that seeks to support buyout and growth capital financings of lower middle-market companies. Sorenson invests across a broad range of industries and generally pursues companies with significant market share, high barriers to entry, fragmented industry competition, motivated managment, and sustainable pricing and profit margins. Target businesses typically have sales of $30 to $300 million with earnings of $3 to $25 million. Sorenson's geographic preference is for opportunities in the Mountain West and West Coast regions of the US. Sorenson raised its inaugural fund in 2004 and is based in Lehi, Utah.


DEAL STATS #
Overall 27 of 48
Sector: Internet Software and Services M&A 5 of 13
Type: Venture M&A Deals 2 of 12
State: British Columbia M&A 1 of 1
Country: Canada M&A 1 of 1
Year: 2013 M&A 7 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-15 AccessData Group

Orem, Utah, United States

AccessData Group, Inc. is a provider of digital forensic investigation software. AccessData has worked with more than 130,000 users in law enforcement, government agencies, corporations and law firms around the world, providing both stand-alone and enterprise-class solutions that can synergistically work together. AccessData Group was founded in 1987 and is based in Orem, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-26 Wilson Electronics

St. George, Utah, United States

Wilson Electronics is a wireless communications company focused on designing and manufacturing high-performance cell phone signal boosters. The company's cellular signal boosters overcome the problem of dropped calls, limited range and reduced data rates for cell phones and data cards by amplifying weak cellular signals. It's powerful bidirectional cellular amplifiers provide the highest receiver sensitivity in the industry and protect cell sites by preventing oscillation and overload. Wilson Electronics was formed in 1966 and is based in St. George, Utah.

Buy -