M&A Deal Summary

TPG Acquires Eze Software

On January 23, 2013, private equity firm TPG acquired software company Eze Software from ConvergEx Group

Acquisition Highlights
  • This is TPG’s 10th transaction in the Software sector.
  • This is TPG’s 137th transaction in the United States.
  • This is TPG’s 7th transaction in Massachusetts.
Investment Fate
  • Eze Software was sold to a publicly-traded strategic buyer in 2018 for 1.5B USD.

M&A Deal Summary

Date 2013-01-23
Target Eze Software
Sector Software
Buyer(s) TPG
Sellers(s) ConvergEx Group
Deal Type Divestiture

Target

Eze Software

Boston, Massachusetts, United States
Eze Castle Software LLC is a provider of investment management software solutions designed to optimize operational and investment alpha throughout the entire investment process. Eze Software provides the platform for growth for the entire investment management community, maximizing efficiencies across order management, trade execution & analytics, portfolio analytics & modeling, compliance & regulatory reporting, commission management, and portfolio & investor accounting. Eze Castle Software was formed in 1995 and is based in Boston, Massachusetts.

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Buyer(S) 1

Buyer

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 296.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.


DEAL STATS #
Overall 201 of 451
Sector: Software M&A 10 of 40
Type: Divestiture M&A Deals 20 of 41
State: Massachusetts M&A 7 of 15
Country: United States M&A 137 of 298
Year: 2013 M&A 3 of 26
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-18 Norwegian Cruise Line Holdings

Miami, Florida, United States

Norwegian Cruise Line Holdings is a diversified cruise operator of global cruise lines spanning market segments from contemporary to luxury under the Norwegian, Oceania and Regent brands. These brands operate 21 ships with approximately 40,000 Berths visiting approximately 420 worldwide destinations. Norwegian is an innovator in cruise travel with a history of breaking the boundaries of traditional cruising, most notably with the introduction of “Freestyle Cruising,” which changed the industry by giving guests more freedom and flexibility. Oceania is a market leader in the upper-premium cruise segment featuring the fine cuisine at sea, elegant accommodations, impeccable service and destination-driven itineraries. Regent is a market leader in the luxury cruise segment with all-suite accommodations, highly personalized service and the industry’s most inclusive luxury experience featuring round-trip air, fine wines and spirits and unlimited shore excursions among its numerous included amenities. Norwegian Cruise Line Holdings was formed in 1966 and is based in Miami, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-29 Copano Energy

Houston, Texas, United States

Copano Energy LLC, is a midstream natural gas company providing comprehensive services to natural gas producers, including natural gas gathering, intrastate transmission, processing, conditioning and treating to producers.

Sell $3.2B

Seller(S) 1

SELLER

ConvergEx Group

New York City, New York, United States

Category Company
Founded 2006
Sector Business Services
Employees1,200
DESCRIPTION

ConvergEx Group LLC is an agency-focused global brokerage and trading related services provider that takes on the industry's toughest challenges, from complicated trades to complex businesses. With clients' interests as the top priority, Convergex delivers comprehensive solutions that span global high-touch and electronic trading, prime brokerage, clearing, commission management and beyond. Headquartered in New York with a presence in several other locations including Atlanta, Boston, Orlando, San Francisco and London, the company serves nearly 3,000 clients accessing over 100 global market centers.


DEAL STATS #
Overall 2 of 2
Sector: Software M&A 2 of 2
Type: Divestiture M&A Deals 2 of 2
State: Massachusetts M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2013 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-23 RealTick

Chicago, Illinois, United States

RealTick LLC is a multi‐broker, cross‐asset electronic execution platform based in Chicago, Illinois.

Sell -